Levin Capital Strategies L.P. Sells 500 Shares of Facebook, Inc. (NASDAQ:FB)

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

A number of other hedge funds also recently bought and sold shares of FB. Deutsche Bank AG increased its holdings in shares of Facebook by 3.8% in the 2nd quarter. Deutsche Bank AG now owns 8,122,257 shares of the social networking company’s stock worth $2,824,190,000 after purchasing an additional 300,104 shares in the last quarter. Picton Mahoney Asset Management increased its holdings in shares of Facebook by 3.5% in the 2nd quarter. Picton Mahoney Asset Management now owns 88,360 shares of the social networking company’s stock worth $30,723,000 after purchasing an additional 3,008 shares in the last quarter. Vantage Financial Partners Ltd. Inc. bought a new stake in shares of Facebook in the second quarter worth $219,000. Pallas Capital Advisors LLC grew its holdings in shares of Facebook by 136.9% in the second quarter. Pallas Capital Advisors LLC now owns 4,665 shares of the social networking company’s stock worth $1,674,000 after acquiring an additional 2,696 shares during the period. Finally, Lord Abbett & CO. LLC grew its holdings in shares of Facebook by 621.6% in the second quarter. Lord Abbett & CO. LLC now owns 1,598,599 shares of the social networking company’s stock worth $555,849,000 after acquiring an additional 1,377,049 shares during the period. 65.72% of the stock is owned by institutional investors.

Shares of NASDAQ FB opened at $343.21 on Thursday. The firm has a market capitalization of $967.66 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 1.17 and a beta of 1.29. The stock has a 50 day moving average price of $363.87 and a 200 day moving average price of $332.75. Facebook, Inc. has a 52-week low of $244.61 and a 52-week high of $384.33.

Facebook (NASDAQ:FB) last announced its quarterly earnings results on Wednesday, July 28th. The social networking company reported $3.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.03 by $0.58. The firm had revenue of $29.08 billion during the quarter, compared to analyst estimates of $27.93 billion. Facebook had a return on equity of 30.09% and a net margin of 37.17%. Equities research analysts anticipate that Facebook, Inc. will post 14.1 earnings per share for the current year.

In other Facebook news, CEO Mark Zuckerberg sold 77,300 shares of the company’s stock in a transaction on Tuesday, September 21st. The stock was sold at an average price of $357.82, for a total transaction of $27,659,486.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jennifer Newstead sold 250 shares of the stock in a transaction on Tuesday, July 6th. The shares were sold at an average price of $356.41, for a total value of $89,102.50. Following the sale, the vice president now owns 8,140 shares of the company’s stock, valued at approximately $2,901,177.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,583,890 shares of company stock valued at $931,841,875. 14.01% of the stock is owned by company insiders.

Several analysts recently commented on FB shares. Morgan Stanley lifted their price objective on Facebook from $375.00 to $400.00 and gave the stock an “overweight” rating in a report on Thursday, July 29th. HSBC lifted their price objective on Facebook from $275.00 to $300.00 and gave the stock a “reduce” rating in a report on Thursday, September 9th. JMP Securities lifted their price objective on Facebook from $395.00 to $425.00 and gave the stock an “outperform” rating in a report on Thursday, July 29th. Oppenheimer lifted their target price on Facebook from $375.00 to $405.00 and gave the company an “outperform” rating in a research report on Thursday, July 29th. Finally, KGI Securities began coverage on Facebook in a research report on Wednesday, June 2nd. They set an “outperform” rating and a $420.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $404.35.

About Facebook

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.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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