Dock Street Asset Management Inc. boosted its stake in Facebook, Inc. (NASDAQ:FB) by 0.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,220 shares of the social networking company’s stock after acquiring an additional 523 shares during the quarter. Facebook accounts for 3.3% of Dock Street Asset Management Inc.’s portfolio, making the stock its 13th largest position. Dock Street Asset Management Inc.’s holdings in Facebook were worth $10,562,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Townsend & Associates Inc raised its holdings in shares of Facebook by 6.6% in the 2nd quarter. Townsend & Associates Inc now owns 4,077 shares of the social networking company’s stock valued at $792,000 after purchasing an additional 254 shares during the period. Winslow Evans & Crocker Inc. grew its stake in Facebook by 2.2% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 12,658 shares of the social networking company’s stock valued at $2,462,000 after buying an additional 274 shares during the last quarter. Valmark Advisers Inc. grew its stake in Facebook by 18.6% in the 2nd quarter. Valmark Advisers Inc. now owns 1,797 shares of the social networking company’s stock valued at $349,000 after buying an additional 282 shares during the last quarter. Truewealth LLC grew its stake in Facebook by 7.1% in the 2nd quarter. Truewealth LLC now owns 4,306 shares of the social networking company’s stock valued at $837,000 after buying an additional 287 shares during the last quarter. Finally, Sit Investment Associates Inc. grew its stake in Facebook by 0.5% in the 2nd quarter. Sit Investment Associates Inc. now owns 56,660 shares of the social networking company’s stock valued at $11,010,000 after buying an additional 290 shares during the last quarter. 58.14% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages recently commented on FB. Wells Fargo & Co set a $220.00 price target on shares of Facebook and gave the company a “buy” rating in a research note on Monday, October 29th. Credit Suisse Group reiterated a “buy” rating and issued a $210.00 price target on shares of Facebook in a research note on Wednesday, October 31st. Bank of America decreased their target price on shares of Facebook from $205.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, October 24th. Nomura decreased their target price on shares of Facebook from $183.00 to $161.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 31st. Finally, Argus restated a “buy” rating on shares of Facebook in a research report on Wednesday. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. Facebook currently has a consensus rating of “Buy” and a consensus price target of $186.92.

In other news, COO Sheryl Sandberg sold 55,000 shares of the firm’s stock in a transaction on Tuesday, January 8th. The shares were sold at an average price of $141.66, for a total transaction of $7,791,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher K. Cox sold 5,300 shares of the firm’s stock in a transaction on Monday, October 15th. The shares were sold at an average price of $153.44, for a total transaction of $813,232.00. Following the transaction, the insider now directly owns 120,737 shares of the company’s stock, valued at approximately $18,525,885.28. The disclosure for this sale can be found here. Insiders have sold 431,850 shares of company stock valued at $60,909,341 in the last ninety days. Insiders own 16.25% of the company’s stock.

Shares of NASDAQ:FB opened at $143.80 on Friday. The company has a market capitalization of $418.99 billion, a P/E ratio of 23.34, a P/E/G ratio of 0.92 and a beta of 0.58. Facebook, Inc. has a one year low of $123.02 and a one year high of $218.62.

Facebook (NASDAQ:FB) last released its quarterly earnings results on Tuesday, October 30th. The social networking company reported $1.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.30. The firm had revenue of $13.73 billion during the quarter, compared to the consensus estimate of $13.82 billion. Facebook had a net margin of 37.57% and a return on equity of 27.89%. The company’s revenue for the quarter was up 32.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.59 earnings per share. On average, equities analysts expect that Facebook, Inc. will post 7.37 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: “Dock Street Asset Management Inc. Boosts Position in Facebook, Inc. (FB)” was originally reported by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this story on another site, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The correct version of this story can be viewed at https://theolympiareport.com/2019/01/12/dock-street-asset-management-inc-boosts-position-in-facebook-inc-fb.html.

About Facebook

Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.

Further Reading: How Important is Technical Analysis of Stocks

Want to see what other hedge funds are holding FB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Facebook, Inc. (NASDAQ:FB).

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

Receive News & Ratings for Facebook Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook and related companies with MarketBeat.com's FREE daily email newsletter.