Ninety One SA PTY Ltd raised its holdings in Facebook, Inc. (NASDAQ:FB) by 36.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,073 shares of the social networking company’s stock after buying an additional 5,875 shares during the quarter. Facebook accounts for 2.0% of Ninety One SA PTY Ltd’s investment portfolio, making the stock its 11th largest holding. Ninety One SA PTY Ltd’s holdings in Facebook were worth $4,839,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Garde Capital Inc. grew its stake in shares of Facebook by 44.6% in the 2nd quarter. Garde Capital Inc. now owns 4,410 shares of the social networking company’s stock valued at $1,001,000 after buying an additional 1,361 shares during the period. Advisor OS LLC acquired a new position in Facebook during the 2nd quarter worth approximately $628,000. WFA of San Diego LLC acquired a new position in Facebook during the 2nd quarter worth approximately $479,000. AdvisorNet Financial Inc boosted its holdings in Facebook by 6.5% in the second quarter. AdvisorNet Financial Inc now owns 12,099 shares of the social networking company’s stock worth $2,747,000 after acquiring an additional 739 shares in the last quarter. Finally, Handelsbanken Fonder AB acquired a new stake in Facebook in the second quarter valued at approximately $126,137,000. Hedge funds and other institutional investors own 65.31% of the company’s stock.
A number of equities analysts have recently weighed in on FB shares. Zacks Investment Research raised Facebook from a “hold” rating to a “buy” rating and set a $236.00 target price on the stock in a research report on Friday, June 12th. Jefferies Financial Group restated a “buy” rating and set a $310.00 price objective (up previously from $300.00) on shares of Facebook in a report on Monday, August 24th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $300.00 price objective (up from $290.00) on shares of Facebook in a report on Friday, July 31st. Credit Suisse Group boosted their target price on shares of Facebook from $305.00 to $315.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Finally, Needham & Company LLC assumed coverage on shares of Facebook in a research report on Thursday, July 2nd. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-three have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $281.33.
Facebook (NASDAQ:FB) last issued its earnings results on Thursday, July 30th. The social networking company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.36. Facebook had a net margin of 31.29% and a return on equity of 22.90%. The business had revenue of $18.69 billion for the quarter, compared to analysts’ expectations of $17.29 billion. Equities research analysts forecast that Facebook, Inc. will post 8.06 EPS for the current year.
In other news, CAO Susan J.S. Taylor sold 1,133 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $261.39, for a total value of $296,154.87. Following the transaction, the chief accounting officer now owns 4,182 shares of the company’s stock, valued at $1,093,132.98. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CRO David B. Fischer sold 13,110 shares of the company’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $293.95, for a total transaction of $3,853,684.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,669 shares of company stock worth $9,039,215. 14.14% of the stock is currently owned by corporate insiders.
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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