Greenwoods Asset Management Ltd raised its stake in Facebook, Inc. (NASDAQ:FB) by 20.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,826,270 shares of the social networking company’s stock after buying an additional 313,140 shares during the quarter. Facebook accounts for about 13.5% of Greenwoods Asset Management Ltd’s holdings, making the stock its 2nd biggest position. Greenwoods Asset Management Ltd owned approximately 0.06% of Facebook worth $304,622,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently added to or reduced their stakes in FB. Private Advisors LLC boosted its position in Facebook by 9.1% during the first quarter. Private Advisors LLC now owns 17,612 shares of the social networking company’s stock valued at $2,937,000 after purchasing an additional 1,468 shares during the last quarter. Mutual of America Capital Management LLC increased its position in Facebook by 1.9% in the 1st quarter. Mutual of America Capital Management LLC now owns 327,982 shares of the social networking company’s stock worth $54,707,000 after purchasing an additional 6,135 shares during the last quarter. Flossbach Von Storch AG raised its stake in shares of Facebook by 43.2% during the 1st quarter. Flossbach Von Storch AG now owns 5,496,105 shares of the social networking company’s stock worth $916,750,000 after purchasing an additional 1,656,954 shares in the last quarter. Cigna Investments Inc. New lifted its holdings in shares of Facebook by 4.7% during the 1st quarter. Cigna Investments Inc. New now owns 80,039 shares of the social networking company’s stock valued at $13,350,000 after buying an additional 3,568 shares during the last quarter. Finally, Sompo Japan Nipponkoa Asset Management CO. LTD. bought a new stake in shares of Facebook in the 1st quarter valued at approximately $704,000. Institutional investors own 65.13% of the company’s stock.
Several brokerages recently weighed in on FB. KeyCorp cut their price objective on shares of Facebook from $263.00 to $248.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Citigroup cut their price target on shares of Facebook from $240.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. Robert W. Baird reiterated a “buy” rating on shares of Facebook in a report on Tuesday. Argus increased their target price on shares of Facebook from $220.00 to $240.00 in a research report on Monday, May 4th. Finally, Loop Capital boosted their price target on Facebook from $215.00 to $265.00 in a research report on Friday, May 15th. Two investment 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 issued a strong buy rating to the company. Facebook has an average rating of “Buy” and a consensus target price of $240.98.
Facebook (NASDAQ:FB) last released its quarterly earnings data on Wednesday, April 29th. The social networking company reported $1.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.78 by ($0.07). The company had revenue of $17.74 billion for the quarter, compared to analyst estimates of $17.25 billion. Facebook had a return on equity of 21.54% and a net margin of 28.57%. The business’s revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.89 earnings per share. Equities research analysts expect that Facebook, Inc. will post 7.25 earnings per share for the current year.
In related news, CAO Susan J.S. Taylor sold 1,449 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $201.80, for a total transaction of $292,408.20. Following the completion of the sale, the chief accounting officer now directly owns 2,113 shares of the company’s stock, valued at approximately $426,403.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jennifer Newstead sold 970 shares of Facebook stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $207.75, for a total value of $201,517.50. Following the completion of the transaction, the vice president now owns 600 shares of the company’s stock, valued at approximately $124,650. The disclosure for this sale can be found here. Insiders have sold a total of 68,199 shares of company stock valued at $13,967,456 in the last quarter. 14.14% of the stock is currently owned by corporate insiders.
Facebook Company Profile
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.
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