Facebook, Inc. (NASDAQ:FB) Shares Sold by Financial Management Professionals Inc.

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Financial Management Professionals Inc. trimmed its position in shares of Facebook, Inc. (NASDAQ:FB) by 13.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,230 shares of the social networking company’s stock after selling 188 shares during the period. Financial Management Professionals Inc.’s holdings in Facebook were worth $322,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in Facebook by 1.1% in the 2nd quarter. BlackRock Inc. now owns 161,273,433 shares of the social networking company’s stock valued at $36,620,359,000 after purchasing an additional 1,765,562 shares in the last quarter. State Street Corp increased its holdings in Facebook by 1.2% in the 1st quarter. State Street Corp now owns 95,449,004 shares of the social networking company’s stock valued at $15,920,894,000 after purchasing an additional 1,132,053 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Facebook by 11.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 24,179,742 shares of the social networking company’s stock valued at $5,490,495,000 after purchasing an additional 2,431,190 shares in the last quarter. Morgan Stanley increased its holdings in Facebook by 2.4% in the 1st quarter. Morgan Stanley now owns 17,661,522 shares of the social networking company’s stock valued at $2,945,942,000 after purchasing an additional 412,559 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in Facebook by 16.6% in the 2nd quarter. Jennison Associates LLC now owns 14,807,293 shares of the social networking company’s stock valued at $3,362,292,000 after purchasing an additional 2,110,327 shares in the last quarter. Institutional investors and hedge funds own 65.31% of the company’s stock.

In related news, CRO David B. Fischer sold 13,110 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $293.95, for a total transaction of $3,853,684.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Jennifer Newstead sold 194 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $251.57, for a total transaction of $48,804.58. Following the transaction, the vice president now owns 1,724 shares in the company, valued at approximately $433,706.68. The disclosure for this sale can be found here. Insiders sold 34,487 shares of company stock worth $9,557,944 in the last 90 days. 14.14% of the stock is owned by company insiders.

Shares of NASDAQ:FB opened at $280.83 on Friday. The firm’s 50 day moving average is $264.88 and its two-hundred day moving average is $241.45. Facebook, Inc. has a 52 week low of $137.10 and a 52 week high of $304.67. The firm has a market capitalization of $800.03 billion, a P/E ratio of 34.29, a PEG ratio of 1.71 and a beta of 1.29.

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

Several analysts recently issued reports on FB shares. Deutsche Bank Aktiengesellschaft increased their price target on Facebook from $305.00 to $325.00 and gave the company a “buy” rating in a report on Monday, October 12th. Citigroup upped their price objective on shares of Facebook from $275.00 to $315.00 and gave the company a “buy” rating in a research report on Monday, August 24th. They noted that the move was a valuation call. UBS Group upped their price objective on shares of Facebook from $242.00 to $330.00 and gave the company a “buy” rating in a research report on Tuesday, August 25th. Barclays upped their price objective on shares of Facebook from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Finally, Wedbush upped their price objective on shares of Facebook from $250.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the stock. Facebook presently has an average rating of “Buy” and an average price target of $284.28.

About Facebook

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.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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