Mckinley Capital Management LLC Delaware cut its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 150,606 shares of the social networking company’s stock after selling 2,066 shares during the period. Facebook accounts for approximately 1.6% of Mckinley Capital Management LLC Delaware’s investment portfolio, making the stock its 19th biggest holding. Mckinley Capital Management LLC Delaware’s holdings in Facebook were worth $19,743,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of FB. Rovida Advisors Inc. purchased a new stake in shares of Facebook during the 3rd quarter worth about $18,714,000. Ruggie Capital Group boosted its stake in shares of Facebook by 53.8% during the 4th quarter. Ruggie Capital Group now owns 446 shares of the social networking company’s stock worth $58,000 after acquiring an additional 156 shares in the last quarter. Heritage Investors Management Corp boosted its stake in shares of Facebook by 13.1% during the 4th quarter. Heritage Investors Management Corp now owns 36,210 shares of the social networking company’s stock worth $4,747,000 after acquiring an additional 4,190 shares in the last quarter. Altshuler Shaham Ltd boosted its stake in shares of Facebook by 12,051.8% during the 3rd quarter. Altshuler Shaham Ltd now owns 417,657 shares of the social networking company’s stock worth $68,688,000 after acquiring an additional 414,220 shares in the last quarter. Finally, Quantamental Technologies LLC purchased a new stake in shares of Facebook during the 4th quarter worth about $80,000. 61.73% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ FB remained flat at $$193.00 during trading on Monday. 13,654,018 shares of the company’s stock were exchanged, compared to its average volume of 18,620,703. Facebook, Inc. has a one year low of $123.02 and a one year high of $218.62. The company has a quick ratio of 5.38, a current ratio of 5.38 and a debt-to-equity ratio of 0.08. The firm has a fifty day moving average price of $182.47. The stock has a market capitalization of $554.37 billion, a price-to-earnings ratio of 25.50, a price-to-earnings-growth ratio of 1.19 and a beta of 0.97.
In other news, VP David B. Fischer sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $175.00, for a total value of $1,750,000.00. Following the transaction, the vice president now directly owns 48,970 shares in the company, valued at approximately $8,569,750. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $194.78, for a total transaction of $146,085.00. Following the completion of the transaction, the vice president now owns 99,372 shares in the company, valued at $19,355,678.16. The disclosure for this sale can be found here. Insiders have sold a total of 1,544,304 shares of company stock worth $275,717,463 over the last quarter. 14.53% of the stock is currently owned by insiders.
FB has been the subject of a number of recent research reports. DZ Bank upgraded shares of Facebook from a “hold” rating to a “buy” rating in a report on Tuesday, April 30th. Wedbush reiterated an “outperform” rating and issued a $220.00 price objective (up previously from $200.00) on shares of Facebook in a report on Monday, April 22nd. Oppenheimer increased their price objective on shares of Facebook from $195.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Deutsche Bank raised their price target on shares of Facebook from $205.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, SunTrust Banks raised their price target on shares of Facebook to $215.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and forty-three have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $211.21.
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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