Edgewood Management LLC Grows Holdings in Facebook, Inc. (NASDAQ:FB)

Edgewood Management LLC boosted its stake in Facebook, Inc. (NASDAQ:FB) by 12.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,975,079 shares of the social networking company’s stock after acquiring an additional 1,010,960 shares during the period. Facebook accounts for approximately 5.0% of Edgewood Management LLC’s holdings, making the stock its 9th biggest holding. Edgewood Management LLC owned 0.32% of Facebook worth $1,497,043,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in shares of Facebook by 3.3% during the 4th quarter. FMR LLC now owns 123,422,389 shares of the social networking company’s stock valued at $25,332,445,000 after buying an additional 3,993,741 shares in the last quarter. State Street Corp boosted its holdings in shares of Facebook by 1.2% during the 1st quarter. State Street Corp now owns 95,449,004 shares of the social networking company’s stock valued at $15,920,894,000 after buying an additional 1,132,053 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Facebook by 0.6% during the 4th quarter. Capital Research Global Investors now owns 73,111,043 shares of the social networking company’s stock valued at $15,006,041,000 after buying an additional 409,290 shares in the last quarter. Capital World Investors boosted its holdings in shares of Facebook by 5.4% during the 4th quarter. Capital World Investors now owns 46,700,441 shares of the social networking company’s stock valued at $9,585,263,000 after buying an additional 2,405,542 shares in the last quarter. Finally, Capital International Investors boosted its holdings in shares of Facebook by 1.8% during the 4th quarter. Capital International Investors now owns 45,189,119 shares of the social networking company’s stock valued at $9,275,066,000 after buying an additional 781,073 shares in the last quarter. Institutional investors and hedge funds own 65.14% of the company’s stock.

In related news, CAO Susan J.S. Taylor sold 1,195 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 3,147 shares in the company, valued at approximately $703,008.33. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Jennifer Newstead sold 970 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now owns 600 shares of the company’s stock, valued at $124,650. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,591 shares of company stock valued at $14,817,278. 14.14% of the stock is currently owned by corporate insiders.

Shares of NASDAQ FB traded down $0.88 during midday trading on Tuesday, hitting $231.03. 13,918,244 shares of the company’s stock traded hands, compared to its average volume of 23,960,940. Facebook, Inc. has a 1 year low of $137.10 and a 1 year high of $240.90. The stock has a market capitalization of $652.81 billion, a price-to-earnings ratio of 31.48, a price-to-earnings-growth ratio of 1.63 and a beta of 1.17. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.60 and a current ratio of 4.60. The firm has a fifty day moving average of $203.59 and a 200 day moving average of $197.89.

Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, April 29th. The social networking company reported $1.71 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.78 by ($0.07). The company had revenue of $17.74 billion for the quarter, compared to the consensus estimate of $17.25 billion. Facebook had a net margin of 28.57% and a return on equity of 21.54%. The company’s revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.89 earnings per share. On average, equities analysts anticipate that Facebook, Inc. will post 7.27 earnings per share for the current year.

FB has been the topic of a number of research reports. Nomura Securities restated a “buy” rating and set a $253.00 target price on shares of Facebook in a report on Sunday, March 29th. Argus boosted their target price on shares of Facebook from $220.00 to $240.00 in a report on Monday, May 4th. Stifel Nicolaus boosted their target price on shares of Facebook from $245.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, May 21st. BMO Capital Markets boosted their target price on shares of Facebook from $180.00 to $190.00 and gave the company a “market perform” rating in a report on Wednesday, April 29th. Finally, Nomura lifted their price target on Facebook from $253.00 to $260.00 in a research report on Thursday, April 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $242.74.

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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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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