Teachers Retirement System of The State of Kentucky Reduces Position in Facebook, Inc. (NASDAQ:FB)

Teachers Retirement System of The State of Kentucky decreased its holdings in Facebook, Inc. (NASDAQ:FB) by 6.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 586,663 shares of the social networking company’s stock after selling 38,546 shares during the quarter. Facebook accounts for about 1.6% of Teachers Retirement System of The State of Kentucky’s investment portfolio, making the stock its 4th largest position. Teachers Retirement System of The State of Kentucky’s holdings in Facebook were worth $133,213,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Watson Rebecca purchased a new position in shares of Facebook during the 2nd quarter valued at $25,000. JJJ Advisors Inc. grew its holdings in shares of Facebook by 262.5% during the 2nd quarter. JJJ Advisors Inc. now owns 145 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 105 shares in the last quarter. HHM Wealth Advisors LLC purchased a new position in shares of Facebook during the 1st quarter valued at $41,000. Elmwood Wealth Management Inc. purchased a new position in shares of Facebook during the 1st quarter valued at $46,000. Finally, Virtus Alternative Investment Advisers Inc. purchased a new position in shares of Facebook during the 2nd quarter valued at $47,000. Hedge funds and other institutional investors own 65.31% of the company’s stock.

In other news, CAO Susan J.S. Taylor sold 1,133 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $261.39, for a total transaction of $296,154.87. Following the transaction, the chief accounting officer now directly owns 4,182 shares in the company, valued at $1,093,132.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Michael Todd Schroepfer sold 112 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $262.09, for a total transaction of $29,354.08. Following the completion of the transaction, the chief technology officer now owns 498,238 shares in the company, valued at $130,583,197.42. The disclosure for this sale can be found here. Insiders have sold 32,669 shares of company stock worth $9,039,215 over the last ninety days. Insiders own 14.14% of the company’s stock.

Several equities research analysts recently issued reports on the stock. Raymond James lifted their price objective on shares of Facebook from $240.00 to $280.00 and gave the company a “strong-buy” rating in a research note on Friday, July 31st. They noted that the move was a valuation call. Jefferies Financial Group reaffirmed a “buy” rating and issued a $310.00 price objective (up previously from $300.00) on shares of Facebook in a research note on Monday, August 24th. Royal Bank of Canada lifted their price objective on shares of Facebook from $271.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Goldman Sachs Group reissued a “buy” rating and set a $303.00 target price (up previously from $265.00) on shares of Facebook in a research report on Friday, July 31st. Finally, Deutsche Bank boosted their target price on shares of Facebook from $220.00 to $275.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, forty-three have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $281.33.

Facebook stock traded up $6.27 during trading hours on Tuesday, hitting $272.42. 18,250,763 shares of the stock were exchanged, compared to its average volume of 23,845,961. The stock has a market capitalization of $776.07 billion, a P/E ratio of 33.25, a P/E/G ratio of 1.75 and a beta of 1.25. Facebook, Inc. has a 12 month low of $137.10 and a 12 month high of $304.67. The business’s 50-day moving average is $266.83 and its two-hundred day moving average is $220.09.

Facebook (NASDAQ:FB) last issued its quarterly earnings data on Thursday, July 30th. The social networking company reported $1.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.36. The firm had revenue of $18.69 billion for the quarter, compared to analysts’ expectations of $17.29 billion. Facebook had a net margin of 31.29% and a return on equity of 22.90%. As a group, sell-side analysts expect that Facebook, Inc. will post 8.06 EPS for the current year.

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.

Recommended Story: The primary rules of Elliott Wave theory

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.