Parkside Financial Bank & Trust reduced its position in Facebook, Inc. (NASDAQ:FB) by 9.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,642 shares of the social networking company’s stock after selling 284 shares during the period. Parkside Financial Bank & Trust’s holdings in Facebook were worth $470,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Manitou Investment Management Ltd. grew its holdings in Facebook by 14.1% during the 3rd quarter. Manitou Investment Management Ltd. now owns 3,730 shares of the social networking company’s stock valued at $664,000 after buying an additional 460 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in Facebook by 7.4% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 18,783 shares of the social networking company’s stock valued at $3,345,000 after buying an additional 1,293 shares in the last quarter. Taylor Hoffman Wealth Management grew its holdings in Facebook by 19.1% during the 3rd quarter. Taylor Hoffman Wealth Management now owns 2,620 shares of the social networking company’s stock valued at $467,000 after buying an additional 421 shares in the last quarter. Lenox Wealth Management Inc. grew its holdings in Facebook by 24.1% during the 3rd quarter. Lenox Wealth Management Inc. now owns 1,598 shares of the social networking company’s stock valued at $284,000 after buying an additional 310 shares in the last quarter. Finally, Principle Wealth Partners LLC grew its holdings in Facebook by 3.0% during the 3rd quarter. Principle Wealth Partners LLC now owns 10,397 shares of the social networking company’s stock valued at $1,851,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 63.17% of the company’s stock.
In other news, CEO Mark Zuckerberg sold 122,855 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $192.22, for a total value of $23,615,188.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Peter Thiel sold 22,246 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $182.00, for a total value of $4,048,772.00. Following the completion of the sale, the director now directly owns 9,948 shares in the company, valued at $1,810,536. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,681,364 shares of company stock valued at $867,172,511. 14.53% of the stock is owned by corporate insiders.
FB has been the subject of a number of recent analyst reports. Aegis reaffirmed a “buy” rating on shares of Facebook in a report on Monday, November 4th. Credit Suisse Group reissued an “outperform” rating and set a $270.00 price objective (up previously from $260.00) on shares of Facebook in a report on Thursday, October 31st. Summit Insights began coverage on Facebook in a report on Friday, September 27th. They set a “buy” rating for the company. MKM Partners reissued a “buy” rating and set a $245.00 price objective (up previously from $190.00) on shares of Facebook in a report on Friday, August 2nd. Finally, Wells Fargo & Co set a $260.00 price objective on Facebook and gave the stock a “buy” rating in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and forty-one have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $228.33.
FB traded up $0.42 during midday trading on Friday, hitting $190.84. The stock had a trading volume of 10,760,700 shares, compared to its average volume of 16,776,678. The business has a fifty day moving average of $185.37 and a 200 day moving average of $187.27. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.66 and a current ratio of 4.66. The company has a market cap of $554.39 billion, a P/E ratio of 25.21, a price-to-earnings-growth ratio of 1.10 and a beta of 1.05. Facebook, Inc. has a 1 year low of $123.02 and a 1 year high of $208.66.
Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.21. The business had revenue of $17.65 billion during the quarter, compared to the consensus estimate of $17.35 billion. Facebook had a return on equity of 20.39% and a net margin of 27.08%. The firm’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.76 earnings per share. On average, equities research analysts anticipate that Facebook, Inc. will post 8.57 earnings per share for the current year.
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.
Featured Article: What are the benefits of momentum investing?
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).
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.