Tortoise Investment Management LLC boosted its holdings in Facebook, Inc. (NASDAQ:FB) by 20.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,496 shares of the social networking company’s stock after buying an additional 258 shares during the period. Tortoise Investment Management LLC’s holdings in Facebook were worth $226,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Arcadia Investment Management Corp MI increased its stake in Facebook by 20.0% in the first quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock valued at $102,000 after purchasing an additional 120 shares in the last quarter. D. Scott Neal Inc. increased its stake in Facebook by 1,358.0% in the second quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock valued at $110,000 after purchasing an additional 679 shares in the last quarter. Farmers & Merchants Investments Inc. increased its stake in Facebook by 4.4% in the second quarter. Farmers & Merchants Investments Inc. now owns 809 shares of the social networking company’s stock valued at $122,000 after purchasing an additional 34 shares in the last quarter. Pacific Center for Financial Services increased its stake in Facebook by 10.7% in the first quarter. Pacific Center for Financial Services now owns 910 shares of the social networking company’s stock valued at $129,000 after purchasing an additional 88 shares in the last quarter. Finally, Crow Point Partners LLC bought a new stake in Facebook in the second quarter valued at approximately $142,000. Institutional investors and hedge funds own 57.27% of the company’s stock.

In related news, Director Jan Koum sold 2,953,492 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $170.17, for a total value of $502,595,733.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 254,525 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $166.97, for a total value of $42,498,039.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,306,683 shares of company stock valued at $1,441,300,245. Insiders own 19.08% of the company’s stock.

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Facebook (NASDAQ:FB) last released its quarterly earnings data on Tuesday, October 31st. The social networking company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.31. The firm had revenue of $10.33 billion during the quarter, compared to analyst estimates of $9.84 billion. Facebook had a return on equity of 21.73% and a net margin of 38.84%. The business’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.09 earnings per share.

Several brokerages have commented on FB. Cowen and Company reaffirmed an “outperform” rating and issued a $195.00 target price on shares of Facebook in a research note on Thursday, August 10th. Citigroup Inc. reaffirmed a “buy” rating and issued a $200.00 target price on shares of Facebook in a research note on Wednesday, September 27th. Pivotal Research downgraded shares of Facebook from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Robert W. Baird reaffirmed an “outperform” rating and issued a $185.00 target price (up previously from $163.00) on shares of Facebook in a research note on Thursday, July 27th. Finally, Zacks Investment Research downgraded shares of Facebook from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, forty-five have given a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $188.91.

About Facebook

Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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