Teachers Retirement System of The State of Kentucky Sells 38,546 Shares of Facebook, Inc. (NASDAQ:FB)

Teachers Retirement System of The State of Kentucky lowered its stake in Facebook, Inc. (NASDAQ:FB) by 6.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 586,663 shares of the social networking company’s stock after selling 38,546 shares during the period. Facebook accounts for 1.6% of Teachers Retirement System of The State of Kentucky’s holdings, making the stock its 4th largest holding. Teachers Retirement System of The State of Kentucky’s holdings in Facebook were worth $133,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of the business. BlackRock Inc. raised its stake in shares of Facebook by 1.1% during the second quarter. BlackRock Inc. now owns 161,273,433 shares of the social networking company’s stock valued at $36,620,359,000 after acquiring an additional 1,765,562 shares during the last quarter. State Street Corp raised its stake in Facebook by 1.2% during the first quarter. State Street Corp now owns 95,449,004 shares of the social networking company’s stock worth $15,920,894,000 after buying an additional 1,132,053 shares during the last quarter. Capital International Investors raised its stake in Facebook by 14.1% during the first quarter. Capital International Investors now owns 51,583,155 shares of the social networking company’s stock worth $8,604,068,000 after buying an additional 6,394,036 shares during the last quarter. Geode Capital Management LLC raised its stake in Facebook by 2.1% during the first quarter. Geode Capital Management LLC now owns 34,812,327 shares of the social networking company’s stock worth $5,794,733,000 after buying an additional 723,655 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Facebook by 11.2% during the second quarter. Bank of New York Mellon Corp now owns 24,179,742 shares of the social networking company’s stock worth $5,490,495,000 after buying an additional 2,431,190 shares during the last quarter. Hedge funds and other institutional investors own 65.31% of the company’s stock.

In other news, CTO Michael Todd Schroepfer sold 112 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $262.09, for a total transaction of $29,354.08. Following the transaction, the chief technology officer now owns 498,238 shares of the company’s stock, valued at approximately $130,583,197.42. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Susan J.S. Taylor sold 1,133 shares of the business’s stock in a transaction that occurred 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 directly owns 4,182 shares in the company, valued at approximately $1,093,132.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,669 shares of company stock valued at $9,039,215. 14.14% of the stock is currently owned by corporate insiders.

Shares of FB traded up $6.27 on Tuesday, reaching $272.42. The company’s stock had a trading volume of 18,250,763 shares, compared to its average volume of 23,845,961. Facebook, Inc. has a 12-month low of $137.10 and a 12-month high of $304.67. The stock’s 50 day simple moving average is $266.83 and its two-hundred day simple moving average is $220.09. The stock has a market capitalization of $776.07 billion, a P/E ratio of 33.25, a PEG ratio of 1.75 and a beta of 1.25.

Facebook (NASDAQ:FB) last announced its quarterly earnings data on Thursday, July 30th. The social networking company reported $1.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.36. The company had revenue of $18.69 billion during the quarter, compared to the consensus estimate of $17.29 billion. Facebook had a return on equity of 22.90% and a net margin of 31.29%. As a group, research analysts expect that Facebook, Inc. will post 8.06 earnings per share for the current year.

FB has been the subject of a number of analyst reports. JMP Securities lifted their target price on shares of Facebook from $250.00 to $305.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. DZ Bank reissued a “buy” rating on shares of Facebook in a research note on Wednesday, May 20th. Wedbush lifted their target price on shares of Facebook from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Susquehanna Bancshares lifted their target price on shares of Facebook from $285.00 to $310.00 and gave the stock a “positive” rating in a research note on Friday, July 31st. Finally, Pivotal Research raised their price target on shares of Facebook from $225.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, July 31st. One analyst has rated the stock with a sell rating, six have given a hold rating, forty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $281.33.

Facebook Company Profile

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.

Further Reading: Blue-Chip Stocks

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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