Levin Capital Strategies L.P. Lowers Position in Facebook, Inc. (NASDAQ:FB)

Levin Capital Strategies L.P. lessened its position in Facebook, Inc. (NASDAQ:FB) by 2.0% in the second quarter, HoldingsChannel reports. The firm owned 24,773 shares of the social networking company’s stock after selling 500 shares during the quarter. Levin Capital Strategies L.P.’s holdings in Facebook were worth $8,614,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its position in Facebook by 2.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 104,548,050 shares of the social networking company’s stock valued at $30,792,537,000 after buying an additional 2,802,398 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Facebook by 1.9% in the 1st quarter. Geode Capital Management LLC now owns 37,780,412 shares of the social networking company’s stock worth $11,095,469,000 after purchasing an additional 712,271 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Facebook by 8.5% in the 1st quarter. Janus Henderson Group PLC now owns 13,548,108 shares of the social networking company’s stock worth $3,990,513,000 after purchasing an additional 1,060,482 shares in the last quarter. Polen Capital Management LLC increased its holdings in shares of Facebook by 1.4% in the 1st quarter. Polen Capital Management LLC now owns 12,497,902 shares of the social networking company’s stock worth $3,681,007,000 after purchasing an additional 177,413 shares in the last quarter. Finally, Magellan Asset Management Ltd increased its holdings in shares of Facebook by 3.7% in the 1st quarter. Magellan Asset Management Ltd now owns 12,041,440 shares of the social networking company’s stock worth $3,546,565,000 after purchasing an additional 426,524 shares in the last quarter. Institutional investors own 65.72% of the company’s stock.

In related news, CEO Mark Zuckerberg sold 77,300 shares of the business’s stock in a transaction that occurred on Wednesday, September 1st. The stock was sold at an average price of $382.34, for a total value of $29,554,882.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 250 shares of the company’s stock in a transaction on Tuesday, September 14th. The stock was sold at an average price of $377.29, for a total value of $94,322.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,583,890 shares of company stock worth $931,841,875. Insiders own 14.01% of the company’s stock.

Shares of NASDAQ FB opened at $343.21 on Thursday. The business’s 50 day moving average is $363.87 and its two-hundred day moving average is $332.75. Facebook, Inc. has a 1-year low of $244.61 and a 1-year high of $384.33. The stock has a market capitalization of $967.66 billion, a P/E ratio of 25.42, a PEG ratio of 1.17 and a beta of 1.29.

Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, July 28th. The social networking company reported $3.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.03 by $0.58. The company had revenue of $29.08 billion for the quarter, compared to analysts’ expectations of $27.93 billion. Facebook had a return on equity of 30.09% and a net margin of 37.17%. As a group, equities analysts predict that Facebook, Inc. will post 14.1 EPS for the current year.

A number of analysts have commented on FB shares. Morgan Stanley lifted their target price on Facebook from $375.00 to $400.00 and gave the stock an “overweight” rating in a report on Thursday, July 29th. Wells Fargo & Company lifted their target price on Facebook from $415.00 to $450.00 and gave the stock an “overweight” rating in a report on Thursday, July 29th. Cowen lifted their target price on Facebook from $400.00 to $415.00 and gave the stock an “outperform” rating in a report on Thursday, July 29th. Robert W. Baird lifted their price objective on Facebook from $340.00 to $390.00 and gave the stock an “outperform” rating in a report on Thursday, July 29th. Finally, Raymond James lifted their price objective on Facebook from $415.00 to $450.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $404.35.

Facebook Company Profile

Facebook, Inc operates as a social networking company worldwide. The company engages in the development of social media applications for people to connect through mobile devices, personal computers, and other surfaces. It enables users to share opinions, ideas, photos, videos, and other activities online.

Featured Article: How is a management fee different from a performance fee?

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).

Institutional Ownership by Quarter for Facebook (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.