Baird Financial Group Inc. Purchases 8,637 Shares of Facebook, Inc. (NASDAQ:FB)

Baird Financial Group Inc. lifted its position in shares of Facebook, Inc. (NASDAQ:FB) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,161,354 shares of the social networking company’s stock after buying an additional 8,637 shares during the quarter. Facebook makes up 1.0% of Baird Financial Group Inc.’s holdings, making the stock its 14th largest holding. Baird Financial Group Inc.’s holdings in Facebook were worth $403,815,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FB. OLD Mission Capital LLC bought a new stake in Facebook during the third quarter valued at about $251,000. Cannell Peter B & Co. Inc. boosted its position in Facebook by 2.2% during the first quarter. Cannell Peter B & Co. Inc. now owns 6,171 shares of the social networking company’s stock valued at $1,818,000 after purchasing an additional 135 shares in the last quarter. Pzena Investment Management LLC bought a new stake in Facebook during the first quarter valued at about $574,000. Choate Investment Advisors boosted its position in Facebook by 4.5% during the first quarter. Choate Investment Advisors now owns 3,701 shares of the social networking company’s stock valued at $1,090,000 after purchasing an additional 161 shares in the last quarter. Finally, Copperleaf Capital LLC boosted its position in Facebook by 3.1% during the first quarter. Copperleaf Capital LLC now owns 7,169 shares of the social networking company’s stock valued at $2,111,000 after purchasing an additional 216 shares in the last quarter. 65.72% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Mark Zuckerberg sold 77,300 shares of Facebook stock in a transaction that occurred on Monday, July 19th. The stock was sold at an average price of $336.63, for a total value of $26,021,499.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Jennifer Newstead sold 241 shares of Facebook stock in a transaction that occurred on Tuesday, August 10th. The stock was sold at an average price of $361.94, for a total value of $87,227.54. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,506,590 shares of company stock worth $904,182,389. 14.01% of the stock is owned by corporate insiders.

FB has been the topic of a number of recent research reports. KeyCorp raised their price objective on Facebook from $414.00 to $420.00 and gave the company an “overweight” rating in a research report on Thursday, July 29th. Truist raised their price objective on Facebook from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Thursday, July 29th. Robert W. Baird increased their price target on Facebook from $340.00 to $390.00 and gave the company an “outperform” rating in a research note on Thursday, July 29th. Raymond James increased their price target on Facebook from $415.00 to $450.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 29th. Finally, Argus increased their price target on Facebook from $385.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, June 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Facebook currently has an average rating of “Buy” and a consensus price target of $404.35.

FB traded down $13.82 during trading on Wednesday, hitting $343.66. The company’s stock had a trading volume of 948,556 shares, compared to its average volume of 17,319,922. Facebook, Inc. has a twelve month low of $244.61 and a twelve month high of $384.33. The business’s fifty day simple moving average is $363.96 and its 200 day simple moving average is $332.68. The firm has a market capitalization of $968.93 billion, a price-to-earnings ratio of 25.41, a P/E/G 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 EPS for the quarter, beating the consensus estimate of $3.03 by $0.58. Facebook had a return on equity of 30.09% and a net margin of 37.17%. The company had revenue of $29.08 billion for the quarter, compared to analyst estimates of $27.93 billion. Equities research analysts forecast that Facebook, Inc. will post 14.1 earnings per share for the current year.

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.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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