Facebook, Inc. (NASDAQ:FB) Shares Sold by Empirical Finance LLC

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Empirical Finance LLC trimmed its position in shares of Facebook, Inc. (NASDAQ:FB) by 64.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,705 shares of the social networking company’s stock after selling 10,169 shares during the period. Empirical Finance LLC’s holdings in Facebook were worth $1,016,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Watson Rebecca acquired a new position in Facebook during the second quarter worth $25,000. Rocky Mountain Advisers LLC acquired a new position in Facebook during the third quarter worth $26,000. JJJ Advisors Inc. lifted its stake in Facebook by 262.5% during the second quarter. JJJ Advisors Inc. now owns 145 shares of the social networking company’s stock worth $33,000 after purchasing an additional 105 shares in the last quarter. Carolina Wealth Advisors LLC lifted its stake in Facebook by 58.2% during the third quarter. Carolina Wealth Advisors LLC now owns 144 shares of the social networking company’s stock worth $38,000 after purchasing an additional 53 shares in the last quarter. Finally, Demars Financial Group LLC acquired a new stake in shares of Facebook in the second quarter valued at $39,000. Institutional investors own 65.31% of the company’s stock.

Shares of FB opened at $280.83 on Friday. Facebook, Inc. has a twelve month low of $137.10 and a twelve month high of $304.67. The stock’s 50 day moving average is $264.88 and its two-hundred day moving average is $241.45. The firm has a market capitalization of $800.03 billion, a PE ratio of 34.29, a P/E/G ratio of 1.71 and a beta of 1.29.

Facebook (NASDAQ:FB) last announced its quarterly earnings data on Thursday, October 29th. The social networking company reported $2.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.91 by $0.80. Facebook had a return on equity of 22.90% and a net margin of 31.29%. The company had revenue of $21.47 billion for the quarter, compared to analyst estimates of $19.78 billion. During the same quarter in the previous year, the company earned $2.12 EPS. The firm’s revenue for the quarter was up 21.6% compared to the same quarter last year. On average, equities analysts predict that Facebook, Inc. will post 8.12 EPS for the current fiscal year.

In other news, CTO Michael Todd Schroepfer sold 112 shares of Facebook stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $262.09, for a total transaction of $29,354.08. Following the completion of the sale, the chief technology officer now directly owns 498,238 shares in the company, valued at approximately $130,583,197.42. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Susan J.S. Taylor sold 1,133 shares of Facebook stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $261.39, for a total transaction of $296,154.87. Following the sale, the chief accounting officer now owns 4,182 shares of the company’s stock, valued at $1,093,132.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,487 shares of company stock valued at $9,557,944. Insiders own 14.14% of the company’s stock.

Several brokerages have recently issued reports on FB. Rosenblatt Securities increased their price objective on Facebook from $315.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft increased their price objective on Facebook from $305.00 to $325.00 and gave the company a “buy” rating in a research note on Monday, October 12th. Canaccord Genuity reiterated a “buy” rating and issued a $290.00 price objective (up from $275.00) on shares of Facebook in a research note on Friday, July 31st. Morgan Stanley increased their price objective on Facebook from $285.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, September 18th. Finally, Bank of America increased their price objective on Facebook from $265.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, July 31st. One analyst has rated the stock with a sell rating, five have given a hold rating, forty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $284.28.

Facebook Company Profile

Facebook, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices 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 private messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application that is used by people and businesses to communicate in a private way.

Further Reading: How is net asset value different from market price?

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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