Private Asset Management Inc. Lowers Stake in Facebook, Inc. (NASDAQ:FB)

Private Asset Management Inc. lowered its stake in shares of Facebook, Inc. (NASDAQ:FB) by 4.9% in the first quarter, HoldingsChannel.com reports. The firm owned 1,136 shares of the social networking company’s stock after selling 59 shares during the period. Private Asset Management Inc.’s holdings in Facebook were worth $335,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of FB. Thomasville National Bank boosted its position in Facebook by 7.4% in the 1st quarter. Thomasville National Bank now owns 2,638 shares of the social networking company’s stock valued at $440,000 after buying an additional 182 shares during the period. SWS Partners boosted its position in Facebook by 73.0% in the 4th quarter. SWS Partners now owns 14,196 shares of the social networking company’s stock valued at $3,878,000 after buying an additional 5,991 shares during the period. Koshinski Asset Management Inc. boosted its position in Facebook by 67.6% in the 4th quarter. Koshinski Asset Management Inc. now owns 9,764 shares of the social networking company’s stock valued at $2,668,000 after buying an additional 3,939 shares during the period. Everhart Financial Group Inc. purchased a new position in Facebook in the 4th quarter valued at approximately $276,000. Finally, Bard Financial Services Inc. purchased a new position in Facebook in the 4th quarter valued at approximately $3,007,000. 64.95% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:FB opened at $313.80 on Thursday. The company has a market cap of $893.60 billion, a price-to-earnings ratio of 35.66, a PEG ratio of 1.29 and a beta of 1.18. The firm’s 50-day simple moving average is $275.55 and its 200-day simple moving average is $271.28. Facebook, Inc. has a fifty-two week low of $167.74 and a fifty-two week high of $314.25.

Facebook (NASDAQ:FB) last issued its earnings results on Wednesday, January 27th. The social networking company reported $3.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.24 by $0.64. The business had revenue of $28.10 million for the quarter, compared to the consensus estimate of $26.43 billion. Facebook had a net margin of 32.00% and a return on equity of 23.27%. The business’s quarterly revenue was up 33.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.56 earnings per share. As a group, sell-side analysts forecast that Facebook, Inc. will post 9.39 earnings per share for the current fiscal year.

Several equities analysts have commented on the stock. MKM Partners raised their price target on shares of Facebook from $330.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, January 28th. Truist raised their price objective on shares of Facebook from $320.00 to $333.00 in a report on Thursday, January 28th. Evercore ISI restated an “outperform” rating and issued a $370.00 price objective on shares of Facebook in a report on Tuesday. Piper Sandler raised their price objective on shares of Facebook from $275.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, January 28th. Finally, BMO Capital Markets raised their price objective on shares of Facebook from $325.00 to $335.00 and gave the company an “outperform” rating in a report on Thursday, January 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-seven have issued a buy rating and one has issued a strong buy rating to the stock. Facebook presently has a consensus rating of “Buy” and an average target price of $327.15.

In related news, CEO Mark Zuckerberg sold 68,000 shares of the business’s stock in a transaction dated Wednesday, April 7th. The shares were sold at an average price of $310.73, for a total transaction of $21,129,640.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Susan J.S. Taylor sold 3,147 shares of the business’s stock in a transaction dated Thursday, April 1st. The stock was sold at an average price of $300.00, for a total transaction of $944,100.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,436,094 shares of company stock worth $390,590,898. 14.14% of the stock is owned by insiders.

About Facebook

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.

Read More: Capital gains and your 401(k) or IRA

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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