Kingstown Capital Management L.P. Grows Stock Holdings in Facebook, Inc. (NASDAQ:FB)

Kingstown Capital Management L.P. grew its stake in Facebook, Inc. (NASDAQ:FB) by 20.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,000 shares of the social networking company’s stock after purchasing an additional 5,000 shares during the period. Facebook makes up approximately 3.0% of Kingstown Capital Management L.P.’s holdings, making the stock its largest holding. Kingstown Capital Management L.P.’s holdings in Facebook were worth $8,836,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Annex Advisory Services LLC grew its holdings in Facebook by 1.3% during the first quarter. Annex Advisory Services LLC now owns 2,711 shares of the social networking company’s stock worth $799,000 after purchasing an additional 35 shares during the period. Front Row Advisors LLC lifted its position in Facebook by 19.6% during the first quarter. Front Row Advisors LLC now owns 214 shares of the social networking company’s stock worth $63,000 after acquiring an additional 35 shares during the last quarter. Steigerwald Gordon & Koch Inc. lifted its position in Facebook by 2.2% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 1,698 shares of the social networking company’s stock worth $500,000 after acquiring an additional 36 shares during the last quarter. OLD Second National Bank of Aurora lifted its position in Facebook by 0.5% during the first quarter. OLD Second National Bank of Aurora now owns 7,184 shares of the social networking company’s stock worth $2,115,000 after acquiring an additional 36 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its position in Facebook by 2.6% during the first quarter. GSA Capital Partners LLP now owns 1,413 shares of the social networking company’s stock worth $416,000 after acquiring an additional 36 shares during the last quarter. Institutional investors own 65.41% of the company’s stock.

In other news, VP Jennifer Newstead sold 250 shares of the stock in a transaction that occurred on Tuesday, June 29th. The shares were sold at an average price of $356.49, for a total transaction of $89,122.50. Following the completion of the transaction, the vice president now directly owns 8,390 shares of the company’s stock, valued at approximately $2,990,951.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 77,300 shares of the stock in a transaction that occurred on Friday, June 4th. The shares were sold at an average price of $330.13, for a total transaction of $25,519,049.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,460,920 shares of company stock valued at $814,534,268 over the last three months. Insiders own 14.01% of the company’s stock.

Shares of FB traded up $2.95 on Thursday, reaching $349.18. The company’s stock had a trading volume of 343,410 shares, compared to its average volume of 13,889,378. Facebook, Inc. has a twelve month low of $226.90 and a twelve month high of $358.79. The firm has a market cap of $990.09 billion, a PE ratio of 29.62, a PEG ratio of 1.29 and a beta of 1.29. The company has a fifty day moving average of $335.86.

Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, April 28th. The social networking company reported $3.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.36 by $0.94. Facebook had a net margin of 35.74% and a return on equity of 27.54%. The business had revenue of $26.20 billion during the quarter, compared to the consensus estimate of $23.61 billion. During the same period in the prior year, the firm posted $1.71 EPS. The firm’s quarterly revenue was up 47.7% compared to the same quarter last year. On average, analysts predict that Facebook, Inc. will post 13.19 earnings per share for the current fiscal year.

Several equities research analysts have issued reports on FB shares. Stifel Nicolaus raised their price objective on shares of Facebook from $340.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, April 27th. Citigroup downgraded shares of Facebook from a “buy” rating to a “neutral” rating in a research report on Monday, May 10th. JMP Securities lifted their price target on shares of Facebook from $355.00 to $395.00 and gave the company a “market outperform” rating in a research report on Thursday, April 29th. Zacks Investment Research downgraded shares of Facebook from a “buy” rating to a “hold” rating and set a $409.00 price target for the company. in a research report on Tuesday, June 29th. Finally, Mizuho lifted their price target on shares of Facebook from $350.00 to $400.00 in a research report on Thursday, April 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $376.58.

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.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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