Next Century Growth Investors LLC Cuts Holdings in Facebook, Inc. (NASDAQ:FB)

Next Century Growth Investors LLC lowered its holdings in Facebook, Inc. (NASDAQ:FB) by 3.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 8,309 shares of the social networking company’s stock after selling 321 shares during the quarter. Next Century Growth Investors LLC’s holdings in Facebook were worth $2,889,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. McNaughton Wealth Management LLC grew its position in Facebook by 2.8% in the 2nd quarter. McNaughton Wealth Management LLC now owns 1,048 shares of the social networking company’s stock worth $364,000 after purchasing an additional 29 shares during the last quarter. Tranquilli Financial Advisor LLC grew its position in Facebook by 1.7% in the 2nd quarter. Tranquilli Financial Advisor LLC now owns 1,756 shares of the social networking company’s stock worth $611,000 after purchasing an additional 29 shares during the last quarter. KFA Private Wealth Group LLC grew its position in Facebook by 2.0% in the 2nd quarter. KFA Private Wealth Group LLC now owns 1,513 shares of the social networking company’s stock worth $526,000 after purchasing an additional 30 shares during the last quarter. TPG Financial Advisors LLC grew its position in Facebook by 3.9% in the 2nd quarter. TPG Financial Advisors LLC now owns 802 shares of the social networking company’s stock worth $279,000 after purchasing an additional 30 shares during the last quarter. Finally, Brave Asset Management Inc. grew its position in Facebook by 2.8% in the 2nd quarter. Brave Asset Management Inc. now owns 1,100 shares of the social networking company’s stock worth $382,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 65.72% of the company’s stock.

Several research analysts have recently issued reports on FB shares. HSBC increased their price objective on shares of Facebook from $275.00 to $300.00 and gave the company a “reduce” rating in a report on Thursday, September 9th. Jefferies Financial Group increased their price objective on shares of Facebook from $425.00 to $440.00 and gave the company a “buy” rating in a report on Friday, September 17th. They noted that the move was a valuation call. Rosenblatt Securities lowered Facebook from a “buy” rating to a “neutral” rating and set a $400.00 target price on the stock. in a research report on Wednesday, September 1st. The Goldman Sachs Group assumed coverage on Facebook in a research report on Monday, September 13th. They set a “buy” rating and a $455.00 price target on the stock. Finally, Credit Suisse Group upped their price target on Facebook from $480.00 to $500.00 and gave the company an “outperform” rating in a research report on Thursday, July 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-one have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Facebook presently has a consensus rating of “Buy” and a consensus target price of $406.31.

Shares of NASDAQ:FB traded up $5.01 on Thursday, reaching $329.55. 201,028 shares of the company’s stock were exchanged, compared to its average volume of 22,509,820. The company has a fifty day moving average of $358.25 and a 200-day moving average of $338.90. Facebook, Inc. has a twelve month low of $244.61 and a twelve month high of $384.33. The company has a market capitalization of $929.15 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 1.02 and a beta of 1.32.

Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, July 28th. The social networking company reported $3.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.03 by $0.58. Facebook had a net margin of 37.17% and a return on equity of 30.09%. The firm had revenue of $29.08 billion for the quarter, compared to analyst estimates of $27.93 billion. Equities analysts predict that Facebook, Inc. will post 14.11 earnings per share for the current fiscal year.

In other news, CAO Susan J.S. Taylor sold 1,378 shares of the firm’s stock in a transaction on Wednesday, August 18th. The shares were sold at an average price of $356.10, for a total transaction of $490,705.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 52,700 shares of the firm’s stock in a transaction on Tuesday, October 12th. The shares were sold at an average price of $320.88, for a total transaction of $16,910,376.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,481,633 shares of company stock worth $890,771,287. Company insiders own 14.01% of the company’s stock.

About Facebook

Facebook, Inc operates as a social networking company worldwide. The company engages in the development of social media applications for people to connect through mobile devices, personal computers, and other surfaces. It enables users to share opinions, ideas, photos, videos, and other activities online.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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