BI Asset Management Fondsmaeglerselskab A S grew its stake in Facebook, Inc. (NASDAQ:FB) by 55.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,854 shares of the social networking company’s stock after buying an additional 9,962 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Facebook were worth $4,646,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. TFO TDC LLC purchased a new position in shares of Facebook during the fourth quarter worth approximately $25,000. Permanens Capital L.P. acquired a new position in Facebook in the fourth quarter valued at $28,000. Lighthouse Financial Advisors Inc. purchased a new stake in shares of Facebook in the fourth quarter valued at about $41,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Facebook in the fourth quarter valued at about $41,000. Finally, Sowa Financial Group Inc. acquired a new stake in shares of Facebook during the fourth quarter worth about $42,000. 65.13% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CAO Susan J.S. Taylor sold 1,195 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $223.39, for a total transaction of $266,951.05. Following the sale, the chief accounting officer now owns 3,147 shares in the company, valued at $703,008.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO David B. Fischer sold 11,142 shares of Facebook stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $192.00, for a total value of $2,139,264.00. The disclosure for this sale can be found here. Insiders sold a total of 68,199 shares of company stock valued at $13,967,456 over the last ninety days. 14.14% of the stock is owned by corporate insiders.
Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, April 29th. The social networking company reported $1.71 EPS for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.07). The firm had revenue of $17.74 billion for the quarter, compared to analysts’ expectations of $17.25 billion. Facebook had a return on equity of 21.54% and a net margin of 28.57%. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.89 earnings per share. As a group, sell-side analysts forecast that Facebook, Inc. will post 7.25 earnings per share for the current fiscal year.
Several analysts have commented on FB shares. Raymond James upped their price objective on Facebook from $215.00 to $240.00 and gave the company a “strong-buy” rating in a research note on Thursday, April 30th. Pivotal Research upgraded Facebook from a “sell” rating to a “hold” rating and upped their price target for the stock from $167.00 to $225.00 in a research note on Thursday, April 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Facebook in a report on Thursday, April 30th. Deutsche Bank cut shares of Facebook to a “buy” rating and dropped their price objective for the company from $280.00 to $200.00 in a research note on Tuesday, April 21st. Finally, Nomura raised their target price on shares of Facebook from $253.00 to $260.00 in a research note on Thursday, April 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, forty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $240.98.
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces 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 messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.
Featured Article: Technical Indicators – What is a Golden Cross?
Want to see what other hedge funds are holding FB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Facebook, Inc. (NASDAQ:FB).
Receive News & Ratings for Facebook Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook and related companies with MarketBeat.com's FREE daily email newsletter.