Parkside Financial Bank & Trust decreased its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 9.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,642 shares of the social networking company’s stock after selling 284 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Facebook were worth $470,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Financial Advantage Inc. bought a new stake in Facebook during the third quarter worth $28,000. Cordasco Financial Network raised its position in Facebook by 70.0% during the second quarter. Cordasco Financial Network now owns 170 shares of the social networking company’s stock worth $33,000 after acquiring an additional 70 shares in the last quarter. Shamrock Asset Management LLC bought a new stake in Facebook during the second quarter worth $38,000. Clean Yield Group bought a new stake in Facebook during the second quarter worth $39,000. Finally, Litman Gregory Asset Management LLC bought a new stake in Facebook during the second quarter worth $41,000. Hedge funds and other institutional investors own 63.17% of the company’s stock.
In other news, CAO Susan J.S. Taylor sold 1,134 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $192,311.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $181.95, for a total transaction of $1,364,625.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,681,364 shares of company stock valued at $867,172,511. Insiders own 14.53% of the company’s stock.
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $2.12 EPS for the quarter, topping the consensus estimate of $1.91 by $0.21. The company had revenue of $17.65 billion during the quarter, compared to the consensus estimate of $17.35 billion. Facebook had a net margin of 27.08% and a return on equity of 20.39%. The company’s quarterly revenue was up 28.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.76 EPS. On average, analysts expect that Facebook, Inc. will post 8.57 earnings per share for the current fiscal year.
FB has been the topic of several analyst reports. UBS Group dropped their price target on shares of Facebook from $240.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Citigroup upped their price objective on shares of Facebook from $212.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $255.00 price objective on shares of Facebook in a report on Thursday, October 31st. BMO Capital Markets decreased their price objective on shares of Facebook from $197.00 to $185.00 and set a “market perform” rating on the stock in a report on Thursday, October 31st. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $205.00 price objective (up from $180.00) on shares of Facebook in a report on Monday, October 28th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, five have given a hold rating and forty-one have issued a buy rating to the stock. Facebook currently has a consensus rating of “Buy” and a consensus price target of $228.33.
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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