Semmax Financial Advisors Inc. lifted its stake in shares of Facebook, Inc. (NASDAQ:FB) by 85.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,898 shares of the social networking company’s stock after purchasing an additional 2,252 shares during the quarter. Semmax Financial Advisors Inc.’s holdings in Facebook were worth $945,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Cantor Fitzgerald Investment Adviser L.P. bought a new position in shares of Facebook during the 2nd quarter worth about $205,000. Executive Wealth Management LLC bought a new position in Facebook in the 4th quarter valued at about $5,196,000. Ruggie Capital Group lifted its position in Facebook by 53.8% in the 4th quarter. Ruggie Capital Group now owns 446 shares of the social networking company’s stock valued at $58,000 after acquiring an additional 156 shares in the last quarter. Heritage Investors Management Corp lifted its position in Facebook by 13.1% in the 4th quarter. Heritage Investors Management Corp now owns 36,210 shares of the social networking company’s stock valued at $4,747,000 after acquiring an additional 4,190 shares in the last quarter. Finally, Quantamental Technologies LLC bought a new position in Facebook in the 4th quarter valued at about $80,000. 62.44% of the stock is currently owned by institutional investors.
In related news, CRO David B. Fischer sold 11,572 shares of Facebook stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $180.28, for a total value of $2,086,200.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 125,600 shares of Facebook stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $184.50, for a total transaction of $23,173,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,337,995 shares of company stock valued at $248,254,692. 14.53% of the stock is currently owned by company insiders.
Several equities analysts recently weighed in on the stock. Monness Crespi & Hardt raised their price target on shares of Facebook from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Morgan Stanley raised their price target on shares of Facebook from $220.00 to $235.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Robert W. Baird raised their price target on shares of Facebook from $215.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Goldman Sachs Group set a $228.00 price target on shares of Facebook and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, BMO Capital Markets dropped their price target on shares of Facebook to $195.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and forty-two have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $220.92.
Shares of FB stock traded down $4.29 during trading hours on Friday, hitting $177.75. 14,354,973 shares of the company were exchanged, compared to its average volume of 14,590,069. The firm has a fifty day simple moving average of $193.38 and a 200 day simple moving average of $180.93. The company has a current ratio of 4.47, a quick ratio of 4.47 and a debt-to-equity ratio of 0.08. Facebook, Inc. has a 52-week low of $123.02 and a 52-week high of $208.66. The stock has a market capitalization of $519.35 billion, a price-to-earnings ratio of 23.48, a P/E/G ratio of 1.06 and a beta of 0.99.
Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, July 24th. The social networking company reported $1.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.09. Facebook had a net margin of 27.26% and a return on equity of 20.09%. The company had revenue of $16.89 billion during the quarter, compared to analyst estimates of $16.49 billion. During the same quarter last year, the business posted $1.74 EPS. Facebook’s quarterly revenue was up 27.6% compared to the same quarter last year. Sell-side analysts anticipate that Facebook, Inc. will post 8.03 EPS for the current year.
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces 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 messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.
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