Two Sigma Advisers LP lifted its holdings in Facebook, Inc. (NASDAQ:FB) by 96.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,308,850 shares of the social networking company’s stock after purchasing an additional 642,600 shares during the quarter. Facebook comprises about 0.9% of Two Sigma Advisers LP’s portfolio, making the stock its 17th biggest position. Two Sigma Advisers LP’s holdings in Facebook were worth $297,201,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Watson Rebecca acquired a new position in shares of Facebook during the 2nd quarter valued at $25,000. JJJ Advisors Inc. increased its position in shares of Facebook by 262.5% in the 2nd quarter. JJJ Advisors Inc. now owns 145 shares of the social networking company’s stock worth $33,000 after purchasing an additional 105 shares during the last quarter. Demars Financial Group LLC bought a new stake in shares of Facebook in the 2nd quarter worth about $39,000. HHM Wealth Advisors LLC bought a new stake in shares of Facebook in the 1st quarter worth about $41,000. Finally, Elmwood Wealth Management Inc. bought a new stake in shares of Facebook in the 1st quarter worth about $46,000. 65.31% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Jennifer Newstead sold 426 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $270.64, for a total transaction of $115,292.64. Following the sale, the vice president now owns 3,860 shares in the company, valued at $1,044,670.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David M. Wehner sold 1,806 shares of the business’s stock in a transaction that occurred on Saturday, August 15th. The shares were sold at an average price of $261.24, for a total transaction of $471,799.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,669 shares of company stock valued at $9,039,215. Company insiders own 14.14% of the company’s stock.
Facebook (NASDAQ:FB) last released its earnings results on Thursday, July 30th. The social networking company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.44 by $0.36. Facebook had a net margin of 31.29% and a return on equity of 22.90%. The business had revenue of $18.69 billion during the quarter, compared to analyst estimates of $17.29 billion. On average, equities analysts expect that Facebook, Inc. will post 8.06 EPS for the current year.
Several equities research analysts have recently weighed in on FB shares. Wedbush boosted their target price on shares of Facebook from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Royal Bank of Canada boosted their target price on shares of Facebook from $271.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Mizuho boosted their target price on shares of Facebook from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Citigroup boosted their target price on shares of Facebook from $275.00 to $315.00 and gave the stock a “buy” rating in a research report on Monday, August 24th. They noted that the move was a valuation call. Finally, Argus boosted their price objective on shares of Facebook from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. 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. The company presently has a consensus rating of “Buy” and a consensus target price of $281.33.
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.
Further Reading: Book Value Of Equity Per Share – BVPS Explained
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