Traynor Capital Management Inc. decreased its position in Facebook, Inc. (NASDAQ:FB) by 13.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,952 shares of the social networking company’s stock after selling 293 shares during the period. Traynor Capital Management Inc.’s holdings in Facebook were worth $555,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. Hyperion Asset Management Ltd boosted its stake in Facebook by 0.6% in the 3rd quarter. Hyperion Asset Management Ltd now owns 198,688 shares of the social networking company’s stock worth $52,036,000 after purchasing an additional 1,195 shares during the period. JustInvest LLC lifted its position in Facebook by 28.8% in the 3rd quarter. JustInvest LLC now owns 18,728 shares of the social networking company’s stock worth $4,905,000 after buying an additional 4,190 shares in the last quarter. Vista Wealth Management Group LLC lifted its position in Facebook by 5.3% in the 3rd quarter. Vista Wealth Management Group LLC now owns 5,547 shares of the social networking company’s stock worth $1,453,000 after buying an additional 281 shares in the last quarter. Aurora Private Wealth Inc. lifted its position in Facebook by 7.1% in the 3rd quarter. Aurora Private Wealth Inc. now owns 5,375 shares of the social networking company’s stock worth $1,408,000 after buying an additional 355 shares in the last quarter. Finally, Hardy Reed LLC lifted its position in Facebook by 5.5% in the 3rd quarter. Hardy Reed LLC now owns 2,315 shares of the social networking company’s stock worth $606,000 after buying an additional 120 shares in the last quarter. 65.31% of the stock is owned by hedge funds and other institutional investors.
In other Facebook news, VP Jennifer Newstead sold 194 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $251.57, for a total value of $48,804.58. Following the completion of the transaction, the vice president now directly owns 1,724 shares of the company’s stock, valued at $433,706.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Michael Todd Schroepfer sold 112 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $262.09, for a total transaction of $29,354.08. Following the completion of the transaction, the chief technology officer now directly owns 498,238 shares of the company’s stock, valued at $130,583,197.42. The disclosure for this sale can be found here. Insiders have sold a total of 34,487 shares of company stock valued at $9,557,944 over the last three months. 14.14% of the stock is currently owned by insiders.
A number of equities research analysts have issued reports on the stock. Mizuho increased their target price on shares of Facebook from $315.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday. BMO Capital Markets increased their target price on shares of Facebook from $220.00 to $225.00 and gave the stock a “market perform” rating in a research report on Friday, July 31st. Wedbush raised their price target on shares of Facebook from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Needham & Company LLC assumed coverage on shares of Facebook in a report on Thursday, July 2nd. They set a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Facebook from $305.00 to $325.00 and gave the company a “buy” rating in a report on Monday, October 12th. One research 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 given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $284.28.
Shares of FB stock opened at $280.83 on Friday. Facebook, Inc. has a 12-month low of $137.10 and a 12-month high of $304.67. The company has a market capitalization of $800.03 billion, a P/E ratio of 34.29, a P/E/G ratio of 1.71 and a beta of 1.29. The firm has a 50-day moving average price of $264.88 and a 200 day moving average price of $241.45.
Facebook (NASDAQ:FB) last announced its quarterly earnings results on Thursday, October 29th. The social networking company reported $2.71 earnings per share (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 firm had revenue of $21.47 billion during the quarter, compared to the consensus estimate of $19.78 billion. During the same period last year, the firm posted $2.12 EPS. The firm’s quarterly revenue was up 21.6% on a year-over-year basis. As a group, equities research analysts predict that Facebook, Inc. will post 8.12 earnings per share for the current year.
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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