Summit X LLC Purchases 1,208 Shares of Facebook, Inc. (NASDAQ:FB)

Summit X LLC boosted its position in Facebook, Inc. (NASDAQ:FB) by 6.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 19,310 shares of the social networking company’s stock after acquiring an additional 1,208 shares during the period. Facebook accounts for approximately 1.5% of Summit X LLC’s portfolio, making the stock its 13th largest holding. Summit X LLC’s holdings in Facebook were worth $3,246,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FB. Candriam Luxembourg S.C.A. increased its holdings in Facebook by 4.3% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 560,106 shares of the social networking company’s stock worth $114,965,000 after acquiring an additional 22,843 shares during the period. Private Advisory Group LLC increased its holdings in shares of Facebook by 5.1% in the fourth quarter. Private Advisory Group LLC now owns 42,447 shares of the social networking company’s stock worth $8,712,000 after purchasing an additional 2,063 shares during the period. First Merchants Corp increased its holdings in shares of Facebook by 63.7% in the fourth quarter. First Merchants Corp now owns 2,167 shares of the social networking company’s stock worth $444,000 after purchasing an additional 843 shares during the period. Shilanski & Associates Inc. purchased a new stake in shares of Facebook in the fourth quarter worth $213,000. Finally, CIBC Private Wealth Group LLC boosted its stake in Facebook by 3.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 363,156 shares of the social networking company’s stock valued at $74,538,000 after buying an additional 11,433 shares during the period. 65.14% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently issued reports on FB. MKM Partners lifted their price target on Facebook from $200.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Stifel Nicolaus lifted their target price on shares of Facebook from $245.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Barclays cut their price target on shares of Facebook from $260.00 to $175.00 and set an “overweight” rating for the company in a research note on Tuesday, April 7th. UBS Group set a $242.00 price objective on shares of Facebook and gave the stock a “buy” rating in a report on Wednesday, May 20th. Finally, Guggenheim upped their target price on shares of Facebook from $235.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Two analysts have rated the stock with a sell rating, four have given a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $242.74.

In other Facebook news, CRO David B. Fischer sold 22,000 shares of Facebook stock in a transaction on Friday, May 15th. The stock was sold at an average price of $205.29, for a total transaction of $4,516,380.00. Following the completion of the transaction, the executive now owns 57,503 shares in the company, valued at $11,804,790.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Susan J.S. Taylor sold 1,195 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $223.39, for a total value of $266,951.05. Following the completion of the sale, the chief accounting officer now directly owns 3,147 shares in the company, valued at $703,008.33. The disclosure for this sale can be found here. Insiders have sold 68,591 shares of company stock valued at $14,817,278 in the last three months. Insiders own 14.14% of the company’s stock.

FB stock traded down $1.41 during trading on Tuesday, reaching $230.50. The company had a trading volume of 957,637 shares, compared to its average volume of 23,960,940. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.60 and a quick ratio of 4.60. Facebook, Inc. has a 52 week low of $137.10 and a 52 week high of $240.90. The business has a 50 day moving average of $203.59 and a 200 day moving average of $197.89. The company has a market cap of $652.81 billion, a P/E ratio of 31.48, a PEG ratio of 1.63 and a beta of 1.17.

Facebook (NASDAQ:FB) last posted its earnings results on Wednesday, April 29th. The social networking company reported $1.71 earnings per share 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 firm’s revenue was up 17.6% on a year-over-year basis. During the same quarter last year, the company posted $1.89 EPS. Research analysts expect that Facebook, Inc. will post 7.27 earnings per share for the current year.

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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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