Diligent Investors LLC held its position in shares of Facebook Inc. (NASDAQ:FB) during the second quarter, Holdings Channel reports. The fund owned 3,695 shares of the social networking company’s stock at the end of the second quarter. Diligent Investors LLC’s holdings in Facebook were worth $422,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of FB. National Pension Service boosted its position in shares of Facebook by 4.2% in the first quarter. National Pension Service now owns 1,063,800 shares of the social networking company’s stock worth $121,380,000 after buying an additional 43,338 shares in the last quarter. Geode Capital Management LLC boosted its position in Facebook by 3.7% in the first quarter. Geode Capital Management LLC now owns 19,410,677 shares of the social networking company’s stock valued at $2,210,464,000 after buying an additional 690,650 shares during the period. Factory Mutual Insurance Co. boosted its position in Facebook by 3.1% in the second quarter. Factory Mutual Insurance Co. now owns 837,000 shares of the social networking company’s stock valued at $95,652,000 after buying an additional 25,000 shares during the period. Renaissance Technologies LLC boosted its position in Facebook by 36.9% in the first quarter. Renaissance Technologies LLC now owns 2,453,800 shares of the social networking company’s stock valued at $279,979,000 after buying an additional 661,600 shares during the period. Finally, Jackson Square Partners LLC boosted its position in Facebook by 21.4% in the first quarter. Jackson Square Partners LLC now owns 5,507,159 shares of the social networking company’s stock valued at $628,366,000 after buying an additional 969,198 shares during the period. Hedge funds and other institutional investors own 56.63% of the company’s stock.
Facebook Inc. (NASDAQ:FB) traded down 0.27% during midday trading on Monday, hitting $127.54. 11,351,681 shares of the company traded hands. Facebook Inc. has a 12-month low of $89.37 and a 12-month high of $131.98. The stock’s 50-day moving average price is $128.34 and its 200 day moving average price is $120.39. The company has a market capitalization of $366.25 billion, a price-to-earnings ratio of 60.97 and a beta of 0.77.
Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, July 27th. The social networking company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.82 by $0.15. The business had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6 billion. Facebook had a net margin of 27.07% and a return on equity of 14.38%. The firm’s revenue was up 59.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 EPS. On average, equities analysts forecast that Facebook Inc. will post $3.94 EPS for the current year.
Several research firms recently commented on FB. Cowen and Company reiterated a “buy” rating and issued a $145.00 price target on shares of Facebook in a research note on Sunday, July 17th. MKM Partners reiterated a “buy” rating on shares of Facebook in a research note on Sunday, July 24th. Deutsche Bank AG reiterated a “buy” rating on shares of Facebook in a research note on Sunday, July 10th. Vetr upgraded Facebook from a “hold” rating to a “buy” rating and set a $127.69 price target on the stock in a research note on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. set a $170.00 price target on Facebook and gave the stock a “buy” rating in a research note on Thursday, July 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating, forty-five have issued a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $150.30.
In other Facebook news, Director Jan Koum sold 1,566,668 shares of Facebook stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $129.70, for a total value of $203,196,839.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christopher K. Cox sold 15,600 shares of Facebook stock in a transaction on Monday, July 25th. The shares were sold at an average price of $121.08, for a total transaction of $1,888,848.00. Following the completion of the sale, the insider now owns 388,392 shares in the company, valued at $47,026,503.36. The disclosure for this sale can be found here. 19.08% of the stock is currently owned by corporate insiders.
Facebook, Inc builds products that enable people to connect and share through mobile devices and personal computers. The Company enables people to share their opinions, ideas, photos and videos, and other activities. Its products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook is a mobile application and Website that enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
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