CLARET ASSET MANAGEMENT Corp Grows Stake in Facebook, Inc. (NASDAQ:FB)

CLARET ASSET MANAGEMENT Corp grew its stake in Facebook, Inc. (NASDAQ:FB) by 75.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,962 shares of the social networking company’s stock after buying an additional 31,330 shares during the period. Facebook accounts for 3.9% of CLARET ASSET MANAGEMENT Corp’s holdings, making the stock its 6th biggest position. CLARET ASSET MANAGEMENT Corp’s holdings in Facebook were worth $16,567,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund boosted its position in Facebook by 14.1% during the second quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 305,905 shares of the social networking company’s stock worth $69,462,000 after acquiring an additional 37,750 shares during the last quarter. Glassman Wealth Services boosted its position in Facebook by 14.3% during the second quarter. Glassman Wealth Services now owns 2,491 shares of the social networking company’s stock worth $566,000 after acquiring an additional 311 shares during the last quarter. Miracle Mile Advisors LLC boosted its position in Facebook by 43.5% during the second quarter. Miracle Mile Advisors LLC now owns 33,272 shares of the social networking company’s stock worth $7,555,000 after acquiring an additional 10,078 shares during the last quarter. Investment Partners LTD. acquired a new position in Facebook during the second quarter worth about $237,000. Finally, SNS Financial Group LLC boosted its position in Facebook by 3.5% during the second quarter. SNS Financial Group LLC now owns 4,771 shares of the social networking company’s stock worth $1,084,000 after acquiring an additional 161 shares during the last quarter. 65.12% of the stock is owned by institutional investors and hedge funds.

Facebook stock traded down $0.82 during trading hours on Friday, reaching $260.48. 636,465 shares of the stock were exchanged, compared to its average volume of 23,723,109. The stock has a market cap of $744.40 billion, a P/E ratio of 31.91, a P/E/G ratio of 1.73 and a beta of 1.20. The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.02 and a current ratio of 6.02. Facebook, Inc. has a 52-week low of $137.10 and a 52-week high of $278.89. The firm’s 50 day moving average is $241.03 and its 200 day moving average is $209.80.

Facebook (NASDAQ:FB) last announced its quarterly earnings data on Thursday, July 30th. The social networking company reported $1.80 EPS for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.36. The company had revenue of $18.69 billion during the quarter, compared to the consensus estimate of $17.29 billion. Facebook had a net margin of 31.29% and a return on equity of 22.90%. Equities research analysts expect that Facebook, Inc. will post 8.21 EPS for the current fiscal year.

A number of equities analysts have commented on the stock. Monness Crespi & Hardt lifted their target price on shares of Facebook from $230.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Bank of America boosted their price target on shares of Facebook from $265.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Zacks Investment Research raised shares of Facebook from a “hold” rating to a “buy” rating and set a $236.00 price target on the stock in a research note on Friday, June 12th. Pivotal Research boosted their price target on shares of Facebook from $225.00 to $275.00 and gave the company a “hold” rating in a research note on Friday, July 31st. Finally, Susquehanna Bancshares boosted their price target on shares of Facebook from $285.00 to $310.00 and gave the company a “positive” rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, forty-three have given a buy rating and one has assigned a strong buy rating to the company. Facebook presently has a consensus rating of “Buy” and an average price target of $276.21.

In other Facebook news, CAO Susan J.S. Taylor sold 1,195 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were 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 owns 3,147 shares in the company, valued at approximately $703,008.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Jennifer Newstead sold 212 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $260.39, for a total transaction of $55,202.68. Following the transaction, the vice president now owns 1,512 shares of the company’s stock, valued at approximately $393,709.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,814 shares of company stock valued at $8,350,446. 14.14% of the stock is owned by insiders.

About Facebook

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.

Further Reading: What are the benefits of investing in REITs?

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).

Institutional Ownership by Quarter for Facebook (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.