Facebook, Inc. (FB) Shares Sold by Arcadia Investment Management Corp MI

Arcadia Investment Management Corp MI lowered its position in Facebook, Inc. (NASDAQ:FB) by 16.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,984 shares of the social networking company’s stock after selling 4,206 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in Facebook were worth $4,078,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Townsend & Associates Inc boosted its stake in shares of Facebook by 6.6% during the 2nd quarter. Townsend & Associates Inc now owns 4,077 shares of the social networking company’s stock worth $792,000 after acquiring an additional 254 shares in the last quarter. Winslow Evans & Crocker Inc. boosted its stake in shares of Facebook by 2.2% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 12,658 shares of the social networking company’s stock worth $2,462,000 after acquiring an additional 274 shares in the last quarter. Harvest Group Wealth Management LLC boosted its stake in shares of Facebook by 2.4% during the 1st quarter. Harvest Group Wealth Management LLC now owns 12,430 shares of the social networking company’s stock worth $1,986,000 after acquiring an additional 286 shares in the last quarter. Truewealth LLC boosted its stake in shares of Facebook by 7.1% during the 2nd quarter. Truewealth LLC now owns 4,306 shares of the social networking company’s stock worth $837,000 after acquiring an additional 287 shares in the last quarter. Finally, Sit Investment Associates Inc. boosted its stake in shares of Facebook by 0.5% during the 2nd quarter. Sit Investment Associates Inc. now owns 56,660 shares of the social networking company’s stock worth $11,010,000 after acquiring an additional 290 shares in the last quarter. Hedge funds and other institutional investors own 60.25% of the company’s stock.

Several equities analysts recently weighed in on FB shares. SunTrust Banks cut their price objective on Facebook to $200.00 and set a “buy” rating for the company in a research report on Thursday, July 26th. Wells Fargo & Co set a $220.00 price objective on Facebook and gave the stock a “buy” rating in a research report on Monday, October 29th. Credit Suisse Group reissued a “buy” rating and set a $210.00 price objective on shares of Facebook in a research report on Wednesday, October 31st. Raymond James cut Facebook from a “strong-buy” rating to an “outperform” rating and set a $210.00 price objective for the company. in a research report on Thursday, July 26th. Finally, Bank of America cut their price objective on Facebook from $205.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, October 24th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $194.54.

In other news, CEO Mark Zuckerberg sold 602,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $176.67, for a total value of $106,355,340.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Colin Stretch sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $179.17, for a total value of $134,377.50. Following the completion of the sale, the vice president now owns 85,615 shares in the company, valued at $15,339,639.55. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,571,582 shares of company stock worth $448,690,663. Corporate insiders own 17.23% of the company’s stock.

Facebook stock opened at $144.96 on Friday. The company has a market capitalization of $435.58 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 0.91 and a beta of 0.55. Facebook, Inc. has a 12 month low of $139.03 and a 12 month high of $218.62.

Facebook (NASDAQ:FB) last released its quarterly earnings data on Tuesday, October 30th. The social networking company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.30. Facebook had a return on equity of 27.89% and a net margin of 37.57%. The company had revenue of $13.73 billion for the quarter, compared to analyst estimates of $13.82 billion. During the same period in the prior year, the company posted $1.59 EPS. The company’s revenue was up 32.9% compared to the same quarter last year. Equities research analysts expect that Facebook, Inc. will post 7.35 earnings per share for the current year.

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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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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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