Facebook, Inc. (NASDAQ:FB) Holdings Boosted by Tredje AP fonden
Tredje AP fonden grew its stake in shares of Facebook, Inc. (NASDAQ:FB) by 134.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 357,778 shares of the social networking company’s stock after purchasing an additional 205,022 shares during the period. Facebook makes up about 3.0% of Tredje AP fonden’s holdings, making the stock its 4th largest position. Tredje AP fonden’s holdings in Facebook were worth $51,854,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. TFO TDC LLC acquired a new position in shares of Facebook in the fourth quarter valued at approximately $25,000. Permanens Capital L.P. acquired a new stake in Facebook during the fourth quarter worth about $28,000. Lighthouse Financial Advisors Inc. acquired a new position in Facebook during the fourth quarter valued at approximately $41,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in Facebook during the 4th quarter worth $41,000. Finally, Sowa Financial Group Inc. purchased a new stake in shares of Facebook in the fourth quarter worth about $42,000. 65.13% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently commented on the company. Guggenheim raised their target price on Facebook from $235.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, April 30th. KeyCorp dropped their price objective on shares of Facebook from $263.00 to $248.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Nomura Securities restated a “buy” rating and issued a $253.00 target price on shares of Facebook in a research note on Sunday, March 29th. JPMorgan Chase & Co. raised their price target on shares of Facebook from $215.00 to $240.00 in a report on Thursday, April 30th. Finally, BidaskClub upgraded shares of Facebook from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, forty-one have assigned a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $240.98.
Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, April 29th. The social networking company reported $1.71 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.78 by ($0.07). The company had revenue of $17.74 billion during the quarter, compared to the consensus estimate of $17.25 billion. Facebook had a net margin of 28.57% and a return on equity of 21.54%. The firm’s revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.89 earnings per share. On average, equities analysts expect that Facebook, Inc. will post 7.25 EPS for the current fiscal year.
In other Facebook news, CRO David B. Fischer sold 11,142 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $192.00, for a total transaction of $2,139,264.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO David B. Fischer sold 22,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $205.29, for a total transaction of $4,516,380.00. Following the transaction, the executive now directly owns 57,503 shares in the company, valued at $11,804,790.87. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,199 shares of company stock worth $13,967,456. 14.14% of the stock is owned by corporate insiders.
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.
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