Mission Wealth Management LP Boosts Position in Facebook, Inc. (FB)

Mission Wealth Management LP lifted its position in shares of Facebook, Inc. (NASDAQ:FB) by 5.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,040 shares of the social networking company’s stock after acquiring an additional 531 shares during the period. Mission Wealth Management LP’s holdings in Facebook were worth $1,951,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Marble Arch Investments LP raised its position in shares of Facebook by 40.8% during the 1st quarter. Marble Arch Investments LP now owns 451,900 shares of the social networking company’s stock valued at $72,209,000 after acquiring an additional 130,900 shares in the last quarter. Knott David M bought a new position in Facebook during the first quarter valued at about $3,196,000. Immersion Capital LLP bought a new position in Facebook during the first quarter valued at about $65,194,000. Natixis boosted its position in shares of Facebook by 420.1% in the 1st quarter. Natixis now owns 789,988 shares of the social networking company’s stock valued at $126,232,000 after purchasing an additional 638,106 shares during the period. Finally, City Financial Investment Co Ltd acquired a new position in shares of Facebook in the 1st quarter valued at $15,979,000. 58.98% of the stock is currently owned by institutional investors and hedge funds.

In other news, CFO David M. Wehner sold 4,761 shares of Facebook stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $141.10, for a total transaction of $671,777.10. Following the sale, the chief financial officer now owns 76,830 shares of the company’s stock, valued at approximately $10,840,713. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Susan J.S. Taylor sold 2,112 shares of Facebook stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $137.50, for a total value of $290,400.00. Following the sale, the insider now directly owns 6,927 shares in the company, valued at approximately $952,462.50. The disclosure for this sale can be found here. Insiders sold a total of 1,281,450 shares of company stock worth $217,674,194 in the last ninety days. Insiders own 16.25% of the company’s stock.

FB has been the subject of a number of recent analyst reports. Raymond James reiterated a “buy” rating and issued a $210.00 price target on shares of Facebook in a research report on Friday, October 19th. Royal Bank of Canada reiterated a “buy” rating and issued a $195.00 price target on shares of Facebook in a research report on Monday, September 3rd. Stifel Nicolaus reiterated a “buy” rating and issued a $202.00 price target on shares of Facebook in a research report on Thursday, August 23rd. JPMorgan Chase & Co. increased their price target on Facebook from $195.00 to $205.00 and gave the company an “overweight” rating in a research report on Tuesday, September 18th. Finally, Goldman Sachs Group restated a “buy” rating and set a $205.00 price objective on shares of Facebook in a research report on Monday, October 22nd. Four analysts have rated the stock with a sell rating, six have given a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Facebook presently has a consensus rating of “Buy” and an average target price of $194.54.

FB opened at $131.73 on Monday. The company has a market capitalization of $382.68 billion, a price-to-earnings ratio of 21.38, a price-to-earnings-growth ratio of 0.80 and a beta of 0.55. Facebook, Inc. has a 12-month low of $126.85 and a 12-month high of $218.62.

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

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About Facebook

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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