Arcadia Investment Management Corp MI reduced its position in Facebook, Inc. (NASDAQ:FB) by 71.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,202 shares of the social networking company’s stock after selling 5,566 shares during the period. Arcadia Investment Management Corp MI’s holdings in Facebook were worth $425,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. YCG LLC lifted its position in shares of Facebook by 0.3% in the 2nd quarter. YCG LLC now owns 146,274 shares of the social networking company’s stock worth $28,231,000 after acquiring an additional 483 shares during the period. Global Trust Asset Management LLC raised its holdings in shares of Facebook by 2,286.3% in the 2nd quarter. Global Trust Asset Management LLC now owns 2,792 shares of the social networking company’s stock worth $539,000 after buying an additional 2,675 shares in the last quarter. Sanders Capital LLC increased its holdings in Facebook by 3.3% during the 2nd quarter. Sanders Capital LLC now owns 3,888,800 shares of the social networking company’s stock valued at $835,994,000 after purchasing an additional 122,900 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its holdings in Facebook by 14.1% during the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 2,422 shares of the social networking company’s stock valued at $467,000 after purchasing an additional 300 shares in the last quarter. Finally, Reilly Financial Advisors LLC increased its holdings in Facebook by 2,135.2% during the 2nd quarter. Reilly Financial Advisors LLC now owns 57,110 shares of the social networking company’s stock valued at $11,022,000 after purchasing an additional 54,555 shares in the last quarter. 62.11% of the stock is currently owned by institutional investors.
In other Facebook news, CRO David B. Fischer sold 11,572 shares of the firm’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $180.28, for a total value of $2,086,200.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Susan J.S. Taylor sold 1,472 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $181.89, for a total transaction of $267,742.08. Following the completion of the transaction, the insider now directly owns 569 shares of the company’s stock, valued at $103,495.41. The disclosure for this sale can be found here. Insiders sold a total of 808,283 shares of company stock valued at $150,830,736 over the last quarter. 14.53% of the stock is owned by company insiders.
Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, July 24th. The social networking company reported $1.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $16.89 billion during the quarter, compared to analyst estimates of $16.49 billion. During the same quarter last year, the business posted $1.74 EPS. Facebook’s quarterly revenue was up 27.6% compared to the same quarter last year. On average, analysts anticipate that Facebook, Inc. will post 7.96 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on FB shares. Goldman Sachs Group set a $228.00 price target on Facebook and gave the company a “buy” rating in a report on Tuesday, July 23rd. SunTrust Banks reissued a “buy” rating and issued a $215.00 target price on shares of Facebook in a research note on Tuesday, July 23rd. Wedbush reissued an “outperform” rating and issued a $220.00 target price on shares of Facebook in a research note on Monday, July 22nd. Bank of America set a $224.00 price target on Facebook and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, Canaccord Genuity raised their price target on Facebook from $225.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and forty-two have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $220.92.
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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