Jennison Associates LLC grew its holdings in Facebook, Inc. (NASDAQ:FB) by 9.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,147,053 shares of the social networking company’s stock after purchasing an additional 1,360,607 shares during the quarter. Facebook makes up approximately 2.9% of Jennison Associates LLC’s portfolio, making the stock its 6th largest holding. Jennison Associates LLC owned 0.52% of Facebook worth $2,943,375,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in FB. Cribstone Capital Management LLC raised its stake in Facebook by 186.2% during the second quarter. Cribstone Capital Management LLC now owns 624 shares of the social networking company’s stock worth $121,000 after purchasing an additional 406 shares during the period. IMA Wealth Inc. purchased a new position in Facebook during the second quarter worth approximately $122,000. Trust Department MB Financial Bank N A purchased a new position in Facebook during the second quarter worth approximately $134,000. Northwest Wealth Management LLC purchased a new position in Facebook during the second quarter worth approximately $194,000. Finally, AJ Wealth Strategies LLC purchased a new position in Facebook during the second quarter worth approximately $216,000. Institutional investors and hedge funds own 60.25% of the company’s stock.
In other news, CEO Mark Zuckerberg sold 420,000 shares of Facebook stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $182.64, for a total value of $76,708,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher K. Cox sold 3,300 shares of Facebook stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $150.09, for a total transaction of $495,297.00. Following the completion of the transaction, the insider now directly owns 115,837 shares of the company’s stock, valued at $17,385,975.33. The disclosure for this sale can be found here. Insiders sold a total of 2,990,832 shares of company stock valued at $525,285,785 over the last ninety days. Company insiders own 16.25% of the company’s stock.
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Tuesday, October 30th. The social networking company reported $1.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.30. Facebook had a net margin of 37.57% and a return on equity of 27.89%. The company had revenue of $13.73 billion during the quarter, compared to analyst estimates of $13.82 billion. During the same period last year, the business earned $1.59 EPS. The firm’s revenue for the quarter was up 32.9% compared to the same quarter last year. Sell-side analysts predict that Facebook, Inc. will post 7.32 earnings per share for the current year.
A number of equities analysts have recently commented on the stock. Piper Jaffray Companies raised their target price on shares of Facebook to $250.00 and gave the company an “in-line” rating in a research note on Friday, July 20th. Nomura assumed coverage on shares of Facebook in a research note on Tuesday, July 10th. They issued a “buy” rating and a $228.00 target price on the stock. UBS Group downgraded shares of Facebook from a “buy” rating to a “neutral” rating and cut their target price for the company from $212.00 to $180.00 in a research note on Thursday, July 26th. Raymond James downgraded shares of Facebook from a “strong-buy” rating to an “outperform” rating and set a $210.00 target price on the stock. in a research note on Thursday, July 26th. Finally, Cowen cut their target price on shares of Facebook from $235.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, July 26th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. Facebook currently has a consensus rating of “Buy” and an average target price of $194.54.
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Facebook Company Profile
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.
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