Monetta Financial Services Inc. reduced its position in shares of Facebook Inc. (NASDAQ:FB) by 20.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,000 shares of the social networking company’s stock after selling 5,000 shares during the period. Facebook accounts for 1.4% of Monetta Financial Services Inc.’s portfolio, making the stock its 16th largest position. Monetta Financial Services Inc.’s holdings in Facebook were worth $2,286,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Facebook by 2.5% in the second quarter. Vanguard Group Inc. now owns 139,483,685 shares of the social networking company’s stock worth $15,940,195,000 after buying an additional 3,400,653 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of Facebook during the second quarter valued at $369,509,000. State Street Corp boosted its stake in shares of Facebook by 2.3% in the first quarter. State Street Corp now owns 85,825,821 shares of the social networking company’s stock valued at $9,792,722,000 after buying an additional 1,950,433 shares during the period. Bank of Montreal Can acquired a new stake in shares of Facebook during the second quarter valued at $206,083,000. Finally, Prudential Financial Inc. boosted its stake in shares of Facebook by 44.3% in the first quarter. Prudential Financial Inc. now owns 5,346,954 shares of the social networking company’s stock valued at $610,087,000 after buying an additional 1,642,535 shares during the period. 56.61% of the stock is owned by institutional investors.
Facebook Inc. (NASDAQ:FB) opened at 128.77 on Tuesday. The stock has a market cap of $369.78 billion, a price-to-earnings ratio of 61.55 and a beta of 0.77. The stock has a 50 day moving average price of $127.03 and a 200 day moving average price of $119.33. Facebook Inc. has a 52-week low of $89.37 and a 52-week high of $131.98.
Facebook (NASDAQ:FB) last posted its earnings results on Wednesday, July 27th. The social networking company reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.15. Facebook had a return on equity of 14.38% and a net margin of 27.07%. The company had revenue of $6.44 billion for the quarter, compared to the consensus estimate of $6 billion. During the same quarter in the previous year, the business earned $0.50 earnings per share. The company’s revenue for the quarter was up 59.2% on a year-over-year basis. Analysts expect that Facebook Inc. will post $3.94 EPS for the current fiscal year.
Several analysts have weighed in on FB shares. Cowen and Company reiterated an “outperform” rating and issued a $150.00 price objective on shares of Facebook in a research note on Monday, September 26th. Jefferies Group reiterated a “buy” rating and issued a $170.00 price objective on shares of Facebook in a research note on Monday, August 22nd. Vetr cut shares of Facebook from a “buy” rating to a “hold” rating and set a $131.43 price objective for the company. in a research note on Monday, August 29th. Citigroup Inc. lifted their price objective on shares of Facebook from $148.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, September 19th. Finally, Credit Agricole SA reiterated a “buy” rating on shares of Facebook in a research note on Friday, September 23rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, forty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Facebook has an average rating of “Buy” and an average price target of $149.79.
In related news, Director Jan Koum sold 566,668 shares of the business’s stock in a transaction on Tuesday, September 27th. The stock was sold at an average price of $128.36, for a total transaction of $72,737,504.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David B. Fischer sold 35,000 shares of the business’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $130.32, for a total value of $4,561,200.00. Following the transaction, the vice president now directly owns 204,686 shares of the company’s stock, valued at $26,674,679.52. The disclosure for this sale can be found here. 19.08% of the stock is owned by company 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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