DNB Asset Management AS decreased its holdings in Facebook, Inc. (NASDAQ:FB) by 27.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,698,421 shares of the social networking company’s stock after selling 627,968 shares during the quarter. Facebook comprises approximately 4.7% of DNB Asset Management AS’s portfolio, making the stock its 3rd biggest position. DNB Asset Management AS’s holdings in Facebook were worth $444,816,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in FB. Public Employees Retirement Association of Colorado raised its stake in Facebook by 6.0% in the first quarter. Public Employees Retirement Association of Colorado now owns 1,662,849 shares of the social networking company’s stock worth $277,363,000 after buying an additional 94,034 shares in the last quarter. Tredje AP fonden boosted its position in Facebook by 134.2% during the 1st quarter. Tredje AP fonden now owns 357,778 shares of the social networking company’s stock valued at $59,677,000 after acquiring an additional 205,022 shares in the last quarter. State Street Corp grew its holdings in shares of Facebook by 1.2% during the 1st quarter. State Street Corp now owns 95,449,004 shares of the social networking company’s stock worth $15,920,894,000 after acquiring an additional 1,132,053 shares during the period. Alyeska Investment Group L.P. bought a new position in shares of Facebook in the 1st quarter worth approximately $873,000. Finally, Cohen & Steers Inc. purchased a new position in shares of Facebook in the 1st quarter valued at approximately $274,000. Institutional investors and hedge funds own 65.31% of the company’s stock.
A number of equities analysts have issued reports on FB shares. Pivotal Research increased their price objective on Facebook from $225.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, July 31st. Tigress Financial reaffirmed a “buy” rating on shares of Facebook in a research report on Tuesday, September 1st. Robert W. Baird lifted their price target on shares of Facebook from $240.00 to $300.00 in a research report on Thursday, June 25th. Raymond James upped their price objective on shares of Facebook from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a report on Friday, July 31st. They noted that the move was a valuation call. Finally, 140166 lifted their target price on shares of Facebook from $285.00 to $310.00 and gave the company a “positive” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $283.11.
In other news, CRO David B. Fischer sold 13,110 shares of Facebook stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $293.95, for a total transaction of $3,853,684.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Jennifer Newstead sold 194 shares of Facebook stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $246.22, for a total value of $47,766.68. Following the transaction, the vice president now directly owns 2,112 shares in the company, valued at $520,016.64. The disclosure for this sale can be found here. Insiders sold a total of 34,023 shares of company stock valued at $9,420,337 over the last 90 days. 14.14% of the stock is currently owned by company insiders.
Shares of NASDAQ:FB opened at $265.93 on Friday. The stock has a market capitalization of $757.59 billion, a PE ratio of 32.47, a price-to-earnings-growth ratio of 1.80 and a beta of 1.29. The firm’s 50 day moving average price is $268.73 and its 200-day moving average price is $234.17. Facebook, Inc. has a twelve month low of $137.10 and a twelve month high of $304.67.
Facebook (NASDAQ:FB) last announced its earnings results on Thursday, July 30th. The social networking company reported $1.80 EPS for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.36. The business had revenue of $18.69 billion during the quarter, compared to analysts’ expectations of $17.29 billion. Facebook had a net margin of 31.29% and a return on equity of 22.90%. Equities analysts forecast that Facebook, Inc. will post 8.11 earnings per share for the current year.
Facebook, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices 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 private messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application that is used by people and businesses to communicate in a private way.
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