Everence Capital Management Inc. acquired a new stake in Facebook, Inc. (NASDAQ:FB) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 59,695 shares of the social networking company’s stock, valued at approximately $17,582,000. Facebook accounts for approximately 1.6% of Everence Capital Management Inc.’s investment portfolio, making the stock its 9th largest holding.
Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in shares of Facebook in the fourth quarter valued at approximately $8,021,574,000. Morgan Stanley lifted its position in shares of Facebook by 44.5% in the fourth quarter. Morgan Stanley now owns 30,382,192 shares of the social networking company’s stock valued at $8,299,199,000 after acquiring an additional 9,362,408 shares in the last quarter. Itau Unibanco Holding S.A. lifted its position in Facebook by 1,791.4% during the fourth quarter. Itau Unibanco Holding S.A. now owns 7,405,858 shares of the social networking company’s stock worth $18,849,000 after buying an additional 7,014,302 shares in the last quarter. Cibc World Markets Corp lifted its position in Facebook by 357.0% during the fourth quarter. Cibc World Markets Corp now owns 4,219,334 shares of the social networking company’s stock worth $1,152,553,000 after buying an additional 3,296,086 shares in the last quarter. Finally, D1 Capital Partners L.P. lifted its position in Facebook by 64.4% during the fourth quarter. D1 Capital Partners L.P. now owns 3,642,789 shares of the social networking company’s stock worth $995,064,000 after buying an additional 1,427,000 shares in the last quarter. 64.95% of the stock is currently owned by institutional investors.
In other Facebook news, CFO David M. Wehner sold 678 shares of Facebook stock in a transaction dated Friday, March 19th. The stock was sold at an average price of $289.99, for a total transaction of $196,613.22. Following the completion of the sale, the chief financial officer now directly owns 34,425 shares of the company’s stock, valued at approximately $9,982,905.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 68,000 shares of Facebook stock in a transaction dated Wednesday, April 7th. The stock was sold at an average price of $310.73, for a total value of $21,129,640.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,436,094 shares of company stock valued at $390,590,898 over the last ninety days. 14.14% of the stock is owned by company insiders.
Facebook (NASDAQ:FB) last released its earnings results on Wednesday, January 27th. The social networking company reported $3.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.24 by $0.64. Facebook had a return on equity of 23.27% and a net margin of 32.00%. The firm had revenue of $28.10 million during the quarter, compared to analysts’ expectations of $26.43 billion. During the same period in the previous year, the firm posted $2.56 EPS. Facebook’s revenue for the quarter was up 33.2% on a year-over-year basis. Research analysts forecast that Facebook, Inc. will post 9.39 earnings per share for the current fiscal year.
FB has been the topic of a number of analyst reports. Loop Capital lifted their price objective on Facebook from $330.00 to $370.00 and gave the stock a “buy” rating in a research report on Tuesday, February 16th. Barclays lifted their price objective on Facebook from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Thursday, January 28th. Wolfe Research initiated coverage on Facebook in a research report on Wednesday, March 31st. They set an “outperform” rating on the stock. Pivotal Research lifted their price objective on Facebook from $315.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, January 28th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $350.00 price objective on shares of Facebook in a research report on Thursday, January 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Facebook presently has a consensus rating of “Buy” and a consensus price target of $327.15.
Facebook Company Profile
Facebook, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and private messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application that is used by people and businesses to communicate in a private way.
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