Dock Street Asset Management Inc. grew its holdings in Facebook, Inc. (NASDAQ:FB) by 0.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,220 shares of the social networking company’s stock after purchasing an additional 523 shares during the period. Facebook makes up 3.3% of Dock Street Asset Management Inc.’s portfolio, making the stock its 13th biggest position. Dock Street Asset Management Inc.’s holdings in Facebook were worth $10,562,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in FB. Cribstone Capital Management LLC raised its holdings in shares of Facebook by 186.2% during the second quarter. Cribstone Capital Management LLC now owns 624 shares of the social networking company’s stock worth $121,000 after acquiring an additional 406 shares in the last quarter. IMA Wealth Inc. purchased a new stake in shares of Facebook during the second quarter worth $122,000. Trust Department MB Financial Bank N A purchased a new stake in shares of Facebook during the second quarter worth $134,000. Aviance Capital Management LLC acquired a new position in Facebook during the second quarter worth $151,000. Finally, Marino Stram & Associates LLC increased its position in Facebook by 115.3% during the second quarter. Marino Stram & Associates LLC now owns 945 shares of the social networking company’s stock worth $184,000 after buying an additional 506 shares during the last quarter. Institutional investors own 58.14% of the company’s stock.
Shares of FB opened at $143.80 on Friday. Facebook, Inc. has a 12 month low of $123.02 and a 12 month high of $218.62. The stock has a market cap of $418.99 billion, a price-to-earnings ratio of 23.34, a price-to-earnings-growth ratio of 0.92 and a beta of 0.58.
Facebook (NASDAQ:FB) last posted its earnings results on Tuesday, October 30th. The social networking company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.30. Facebook had a net margin of 37.57% and a return on equity of 27.89%. The company had revenue of $13.73 billion during the quarter, compared to analysts’ expectations of $13.82 billion. During the same quarter in the previous year, the company posted $1.59 earnings per share. Facebook’s quarterly revenue was up 32.9% compared to the same quarter last year. On average, equities analysts expect that Facebook, Inc. will post 7.37 EPS for the current year.
In related news, VP Colin Stretch sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, October 17th. The shares were sold at an average price of $160.00, for a total value of $120,000.00. Following the completion of the transaction, the vice president now owns 92,394 shares in the company, valued at approximately $14,783,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Susan J.S. Taylor sold 2,112 shares of the business’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $137.50, for a total transaction of $290,400.00. Following the completion of the transaction, the insider now owns 6,927 shares of the company’s stock, valued at approximately $952,462.50. The disclosure for this sale can be found here. Insiders sold 431,850 shares of company stock valued at $60,909,341 in the last quarter. 16.25% of the stock is currently owned by corporate insiders.
Several equities analysts have commented on the stock. Zacks Investment Research downgraded shares of Facebook from a “buy” rating to a “hold” rating in a research report on Thursday. Argus reissued a “buy” rating on shares of Facebook in a research report on Wednesday. JPMorgan Chase & Co. reissued a “buy” rating and set a $195.00 target price on shares of Facebook in a research report on Tuesday. Nomura reissued a “neutral” rating and set a $148.00 target price on shares of Facebook in a research report on Monday, January 7th. Finally, BidaskClub raised shares of Facebook from a “hold” rating to a “buy” rating in a research report on Saturday, January 5th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $186.92.
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.
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