Level Four Advisory Services LLC Trims Stake in Facebook, Inc. (NASDAQ:FB)
Level Four Advisory Services LLC cut its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 6.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,834 shares of the social networking company’s stock after selling 2,065 shares during the quarter. Facebook comprises approximately 0.6% of Level Four Advisory Services LLC’s investment portfolio, making the stock its 29th biggest position. Level Four Advisory Services LLC’s holdings in Facebook were worth $5,323,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Candriam Luxembourg S.C.A. boosted its position in shares of Facebook by 4.3% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 560,106 shares of the social networking company’s stock worth $114,965,000 after buying an additional 22,843 shares during the period. Pictet & Cie Europe SA lifted its position in shares of Facebook by 6.0% in the 4th quarter. Pictet & Cie Europe SA now owns 136,132 shares of the social networking company’s stock valued at $27,941,000 after acquiring an additional 7,714 shares in the last quarter. Eads & Heald Wealth Management boosted its stake in Facebook by 1.0% in the 4th quarter. Eads & Heald Wealth Management now owns 7,261 shares of the social networking company’s stock worth $1,490,000 after purchasing an additional 70 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co boosted its stake in Facebook by 15.2% in the 4th quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 11,580 shares of the social networking company’s stock worth $2,377,000 after purchasing an additional 1,530 shares during the period. Finally, Beacon Investment Advisory Services Inc. grew its position in Facebook by 2.3% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 70,022 shares of the social networking company’s stock worth $14,372,000 after purchasing an additional 1,589 shares in the last quarter. 65.14% of the stock is owned by hedge funds and other institutional investors.
FB stock traded up $4.48 during trading hours on Friday, reaching $230.77. 16,513,263 shares of the stock were exchanged, compared to its average volume of 23,578,152. The firm’s 50-day moving average is $206.99 and its 200-day moving average is $198.46. Facebook, Inc. has a 12 month low of $137.10 and a 12 month high of $240.90. The company has a market cap of $656.16 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 1.67 and a beta of 1.17. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.60 and a quick ratio of 4.60.
Several equities analysts have weighed in on FB shares. Jefferies Financial Group set a $250.00 target price on Facebook and gave the company a “buy” rating in a research note on Thursday, May 21st. Nomura Securities restated a “buy” rating and issued a $253.00 price objective on shares of Facebook in a report on Sunday, March 29th. Raymond James raised their price target on shares of Facebook from $215.00 to $240.00 and gave the company a “strong-buy” rating in a report on Thursday, April 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Facebook in a research note on Thursday, April 30th. Finally, Deutsche Bank downgraded shares of Facebook to a “buy” rating and lowered their target price for the stock from $280.00 to $200.00 in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $242.74.
In other news, CFO David M. Wehner sold 1,795 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $206.81, for a total value of $371,223.95. Following the completion of the sale, the chief financial officer now owns 32,917 shares of the company’s stock, valued at approximately $6,807,564.77. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO David B. Fischer sold 22,000 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $205.29, for a total transaction of $4,516,380.00. Following the completion of the transaction, the executive now directly owns 57,503 shares of the company’s stock, valued at $11,804,790.87. The disclosure for this sale can be found here. Insiders have sold a total of 68,785 shares of company stock worth $14,862,081 over the last three months. Insiders own 14.14% of the company’s stock.
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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