Cypress Capital Management LLC Lowers Stock Holdings in Facebook, Inc. (NASDAQ:FB)

Cypress Capital Management LLC lowered its position in Facebook, Inc. (NASDAQ:FB) by 11.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,418 shares of the social networking company’s stock after selling 4,740 shares during the period. Facebook comprises approximately 1.5% of Cypress Capital Management LLC’s holdings, making the stock its 21st largest position. Cypress Capital Management LLC’s holdings in Facebook were worth $11,021,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. MYDA Advisors LLC lifted its position in Facebook by 100.0% in the first quarter. MYDA Advisors LLC now owns 8,000 shares of the social networking company’s stock valued at $2,356,000 after purchasing an additional 4,000 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Facebook by 1.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,539 shares of the social networking company’s stock valued at $4,759,000 after purchasing an additional 225 shares during the period. swisspartners Ltd. lifted its position in shares of Facebook by 2.4% during the 1st quarter. swisspartners Ltd. now owns 2,242 shares of the social networking company’s stock valued at $662,000 after acquiring an additional 52 shares during the period. CIBC Private Wealth Group LLC lifted its position in shares of Facebook by 16.6% during the 1st quarter. CIBC Private Wealth Group LLC now owns 364,632 shares of the social networking company’s stock valued at $107,396,000 after acquiring an additional 51,951 shares during the period. Finally, Quilter Plc lifted its position in shares of Facebook by 4.2% during the 1st quarter. Quilter Plc now owns 191,665 shares of the social networking company’s stock valued at $56,451,000 after acquiring an additional 7,709 shares during the period. Hedge funds and other institutional investors own 65.63% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. Wedbush lifted their price target on shares of Facebook from $340.00 to $355.00 and gave the company a “neutral” rating in a research report on Thursday, April 29th. Canaccord Genuity lifted their price target on shares of Facebook from $350.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday, April 29th. They noted that the move was a valuation call. Piper Sandler lifted their price target on shares of Facebook from $285.00 to $335.00 and gave the company a “neutral” rating in a research report on Thursday, April 29th. Oppenheimer lifted their price target on shares of Facebook from $350.00 to $375.00 and gave the company an “outperform” rating in a research report on Thursday, April 29th. Finally, Evercore ISI lifted their price target on shares of Facebook from $370.00 to $400.00 and gave the company an “outperform” rating in a research report on Thursday, April 29th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the company. Facebook has an average rating of “Buy” and a consensus price target of $370.93.

Facebook stock traded down $2.24 during trading on Friday, reaching $330.22. 279,200 shares of the company’s stock were exchanged, compared to its average volume of 19,578,330. The business’s 50-day simple moving average is $315.72. Facebook, Inc. has a 52-week low of $207.11 and a 52-week high of $338.30. The company has a market cap of $936.33 billion, a price-to-earnings ratio of 28.44, a price-to-earnings-growth ratio of 1.27 and a beta of 1.30.

Facebook (NASDAQ:FB) last announced its quarterly earnings results on Wednesday, April 28th. The social networking company reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.94. Facebook had a net margin of 35.74% and a return on equity of 27.54%. The firm had revenue of $26.20 billion during the quarter, compared to analysts’ expectations of $23.61 billion. During the same period in the prior year, the company earned $1.71 EPS. The firm’s revenue was up 47.7% on a year-over-year basis. Research analysts predict that Facebook, Inc. will post 13.18 EPS for the current fiscal year.

In other Facebook news, VP Jennifer Newstead sold 250 shares of the business’s stock in a transaction on Thursday, May 20th. The shares were sold at an average price of $313.36, for a total value of $78,340.00. Following the transaction, the vice president now owns 9,890 shares in the company, valued at approximately $3,099,130.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO David B. Fischer sold 10,145 shares of the business’s stock in a transaction on Friday, May 28th. The stock was sold at an average price of $331.00, for a total transaction of $3,357,995.00. Following the completion of the transaction, the executive now owns 25,052 shares in the company, valued at approximately $8,292,212. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,031,403 shares of company stock valued at $632,050,379. 14.01% of the stock is owned by corporate insiders.

Facebook Profile

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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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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