Carderock Capital Management Inc. Increases Holdings in Facebook Inc (FB)
Carderock Capital Management Inc. raised its stake in Facebook Inc (NASDAQ:FB) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,483 shares of the social networking company’s stock after buying an additional 273 shares during the quarter. Carderock Capital Management Inc.’s holdings in Facebook were worth $2,790,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in FB. D. Scott Neal Inc. lifted its position in shares of Facebook by 1,358.0% in the second quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock worth $110,000 after purchasing an additional 679 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its position in shares of Facebook by 4.4% in the second quarter. Farmers & Merchants Investments Inc. now owns 809 shares of the social networking company’s stock worth $122,000 after purchasing an additional 34 shares in the last quarter. Pacific Center for Financial Services lifted its position in shares of Facebook by 10.7% in the first quarter. Pacific Center for Financial Services now owns 910 shares of the social networking company’s stock worth $129,000 after purchasing an additional 88 shares in the last quarter. Watermark Asset Management Inc. bought a new stake in shares of Facebook in the first quarter worth $141,000. Finally, Vigilant Capital Management LLC lifted its position in shares of Facebook by 17.8% in the second quarter. Vigilant Capital Management LLC now owns 991 shares of the social networking company’s stock worth $150,000 after purchasing an additional 150 shares in the last quarter. 57.86% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on FB shares. Credit Suisse Group restated a “buy” rating on shares of Facebook in a report on Wednesday, October 11th. Goldman Sachs Group set a $205.00 target price on shares of Facebook and gave the stock a “buy” rating in a report on Friday, October 20th. Barclays boosted their target price on shares of Facebook from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, November 2nd. Robert W. Baird restated a “buy” rating and set a $185.00 target price on shares of Facebook in a report on Friday, September 1st. Finally, Needham & Company LLC boosted their target price on shares of Facebook from $185.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, forty-two have assigned a buy rating and three have assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $200.70.
Facebook Inc (NASDAQ:FB) opened at $176.06 on Thursday. Facebook Inc has a one year low of $114.77 and a one year high of $184.25. The company has a market cap of $509,100.00, a PE ratio of 33.04, a P/E/G ratio of 1.09 and a beta of 0.69.
Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, November 1st. The social networking company reported $1.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.31. Facebook had a net margin of 41.69% and a return on equity of 23.64%. The business had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $9.84 billion. During the same period in the prior year, the company posted $1.09 earnings per share. Facebook’s revenue was up 47.3% compared to the same quarter last year. equities research analysts forecast that Facebook Inc will post 5.86 EPS for the current fiscal year.
In other news, CEO Mark Zuckerberg sold 247,147 shares of the stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $171.96, for a total value of $42,499,398.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jan Koum sold 2,600,000 shares of the stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $180.09, for a total transaction of $468,234,000.00. The disclosure for this sale can be found here. Insiders have sold 5,179,022 shares of company stock valued at $921,840,196 in the last ninety days. 17.23% of the stock is currently owned by company insiders.
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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.
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