Roosevelt Investment Group LLC trimmed its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 12.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 79,299 shares of the social networking company’s stock after selling 11,521 shares during the period. Facebook comprises 1.5% of Roosevelt Investment Group LLC’s holdings, making the stock its 24th largest position. Roosevelt Investment Group LLC’s holdings in Facebook were worth $23,356,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. RBA Wealth Management LLC acquired a new stake in Facebook in the first quarter valued at $25,000. Flagship Private Wealth LLC bought a new stake in Facebook in the fourth quarter worth approximately $25,000. DB Wealth Management Group LLC acquired a new position in Facebook in the fourth quarter valued at approximately $27,000. Klaas Financial Asset Advisors LLC acquired a new stake in Facebook in the fourth quarter worth $27,000. Finally, Litman Gregory Asset Management LLC bought a new position in shares of Facebook during the 4th quarter worth about $27,000. Institutional investors own 64.95% of the company’s stock.
Shares of Facebook stock traded up $7.62 during trading on Friday, reaching $312.88. 396,205 shares of the stock were exchanged, compared to its average volume of 20,531,699. The firm has a market cap of $887.16 billion, a price-to-earnings ratio of 34.77, a price-to-earnings-growth ratio of 1.29 and a beta of 1.18. Facebook, Inc. has a 1 year low of $200.69 and a 1 year high of $331.81. The stock’s fifty day moving average is $305.60 and its 200 day moving average is $279.66.
A number of brokerages have commented on FB. Raymond James boosted their price objective on Facebook from $360.00 to $415.00 and gave the stock a “strong-buy” rating in a report on Wednesday, May 5th. Credit Suisse Group increased their target price on shares of Facebook from $330.00 to $371.00 and gave the company an “outperform” rating in a research report on Monday, May 3rd. Zacks Investment Research lowered Facebook from a “buy” rating to a “hold” rating and set a $308.00 price objective for the company. in a report on Tuesday, March 23rd. Mizuho boosted their target price on Facebook from $350.00 to $400.00 in a research note on Thursday, April 29th. Finally, Moffett Nathanson increased their price target on Facebook from $285.00 to $325.00 in a research note on Friday, January 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $366.87.
In related news, CFO David M. Wehner sold 678 shares of the stock in a transaction dated Friday, March 19th. The shares were sold at an average price of $289.99, for a total transaction of $196,613.22. Following the sale, the chief financial officer now directly owns 34,425 shares of the company’s stock, valued at approximately $9,982,905.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 44,750 shares of Facebook stock in a transaction dated Wednesday, March 3rd. The stock was sold at an average price of $257.63, for a total transaction of $11,528,942.50. The disclosure for this sale can be found here. Insiders sold a total of 1,840,372 shares of company stock valued at $543,294,071 in the last three months. Corporate insiders own 14.14% of the company’s stock.
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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