Evanson Asset Management LLC Reduces Stake in Facebook, Inc. (NASDAQ:FB)

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Evanson Asset Management LLC lessened its stake in shares of Facebook, Inc. (NASDAQ:FB) by 6.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 422,844 shares of the social networking company’s stock after selling 31,180 shares during the period. Facebook comprises approximately 15.5% of Evanson Asset Management LLC’s investment portfolio, making the stock its largest holding. Evanson Asset Management LLC’s holdings in Facebook were worth $75,300,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Facebook by 2.0% in the second quarter. Vanguard Group Inc. now owns 180,682,575 shares of the social networking company’s stock valued at $34,871,738,000 after purchasing an additional 3,465,756 shares during the last quarter. BlackRock Inc. grew its position in Facebook by 2.8% during the second quarter. BlackRock Inc. now owns 151,662,410 shares of the social networking company’s stock worth $29,270,846,000 after buying an additional 4,114,043 shares in the last quarter. Invesco Ltd. grew its position in Facebook by 36.5% during the second quarter. Invesco Ltd. now owns 35,051,341 shares of the social networking company’s stock worth $6,764,908,000 after buying an additional 9,368,684 shares in the last quarter. Northern Trust Corp grew its position in Facebook by 1.7% during the second quarter. Northern Trust Corp now owns 28,594,013 shares of the social networking company’s stock worth $5,518,644,000 after buying an additional 470,411 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its position in Facebook by 5,336.8% during the second quarter. Nuveen Asset Management LLC now owns 22,496,340 shares of the social networking company’s stock worth $4,341,794,000 after buying an additional 22,082,561 shares in the last quarter. 63.18% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CRO David B. Fischer sold 5,501 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $196.84, for a total value of $1,082,816.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Sheryl Sandberg sold 55,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $200.81, for a total value of $11,044,550.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,604,556 shares of company stock valued at $664,101,293. 14.53% of the stock is currently owned by company insiders.

A number of equities research analysts recently issued reports on the company. Susquehanna Bancshares increased their price target on Facebook from $225.00 to $245.00 and gave the stock a “positive” rating in a research report on Thursday, July 25th. Monness Crespi & Hardt increased their price target on Facebook from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Oppenheimer increased their price target on Facebook from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Loop Capital upped their target price on Facebook from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, ValuEngine cut Facebook from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and forty-three have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $220.81.

NASDAQ:FB traded up $5.83 during trading hours on Friday, hitting $185.86. 10,431,215 shares of the company were exchanged, compared to its average volume of 13,372,172. The stock has a market capitalization of $528.57 billion, a price-to-earnings ratio of 24.55, a price-to-earnings-growth ratio of 1.04 and a beta of 1.02. 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 one year low of $123.02 and a one year high of $208.66. The company has a fifty day simple moving average of $183.25 and a 200 day simple moving average of $185.07.

Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, July 24th. The social networking company reported $1.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.90 by $0.09. Facebook had a return on equity of 20.09% and a net margin of 27.26%. The firm had revenue of $16.89 billion during the quarter, compared to the consensus estimate of $16.49 billion. During the same period last year, the business posted $1.74 EPS. The business’s revenue was up 27.6% compared to the same quarter last year. Equities research analysts predict that Facebook, Inc. will post 7.99 earnings per share for the current fiscal year.

About Facebook

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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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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