Manning & Napier Group LLC Increases Stock Position in Facebook, Inc. (NASDAQ:FB)

Manning & Napier Group LLC lifted its position in shares of Facebook, Inc. (NASDAQ:FB) by 58.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 744,688 shares of the social networking company’s stock after buying an additional 273,218 shares during the period. Facebook accounts for approximately 1.5% of Manning & Napier Group LLC’s portfolio, making the stock its 17th largest holding. Manning & Napier Group LLC’s holdings in Facebook were worth $132,612,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Butensky & Cohen Financial Security Inc. lifted its stake in shares of Facebook by 16.1% during the third quarter. Butensky & Cohen Financial Security Inc. now owns 10,657 shares of the social networking company’s stock valued at $1,898,000 after buying an additional 1,476 shares during the period. RB Capital Management LLC lifted its stake in shares of Facebook by 5.1% during the third quarter. RB Capital Management LLC now owns 14,147 shares of the social networking company’s stock valued at $2,541,000 after buying an additional 688 shares during the period. Crow Point Partners LLC purchased a new position in shares of Facebook during the third quarter valued at approximately $2,133,000. Nexus Investment Management Inc. lifted its stake in shares of Facebook by 0.3% during the third quarter. Nexus Investment Management Inc. now owns 108,810 shares of the social networking company’s stock valued at $19,377,000 after buying an additional 280 shares during the period. Finally, Jordan Park Group LLC increased its position in Facebook by 89.2% during the third quarter. Jordan Park Group LLC now owns 104,358 shares of the social networking company’s stock worth $18,584,000 after purchasing an additional 49,198 shares during the last quarter. 63.18% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts recently commented on the stock. Royal Bank of Canada reaffirmed a “buy” rating and set a $260.00 price target on shares of Facebook in a research report on Thursday, July 25th. Nomura upped their price target on shares of Facebook from $226.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Monness Crespi & Hardt upped their price target on shares of Facebook from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Summit Redstone assumed coverage on shares of Facebook in a research report on Friday, September 27th. They set a “buy” rating for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of Facebook from $245.00 to $255.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and forty-three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $220.81.

In related news, CEO Mark Zuckerberg sold 118,500 shares of Facebook stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $179.45, for a total value of $21,264,825.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Susan J.S. Taylor sold 1,134 shares of Facebook stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $185.45, for a total transaction of $210,300.30. Following the completion of the sale, the chief accounting officer now owns 1,037 shares in the company, valued at $192,311.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,604,556 shares of company stock worth $664,101,293. Insiders own 14.53% of the company’s stock.

NASDAQ FB traded up $1.28 during trading hours on Thursday, reaching $181.13. 955,691 shares of the company traded hands, compared to its average volume of 13,640,720. Facebook, Inc. has a 12 month low of $123.02 and a 12 month high of $208.66. The company has a current ratio of 4.47, a quick ratio of 4.47 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $513.10 billion, a PE ratio of 23.93, a PEG ratio of 1.05 and a beta of 1.02. The company has a 50 day moving average of $183.34 and a two-hundred day moving average of $184.99.

Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, July 24th. The social networking company reported $1.99 EPS for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.09. Facebook had a net margin of 27.26% and a return on equity of 20.09%. The firm had revenue of $16.89 billion for the quarter, compared to the consensus estimate of $16.49 billion. During the same period in the prior year, the firm posted $1.74 EPS. The firm’s revenue was up 27.6% compared to the same quarter last year. On average, equities research analysts anticipate that Facebook, Inc. will post 7.99 earnings per share for the current year.

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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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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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