Archford Capital Strategies LLC grew its position in Facebook, Inc. (NASDAQ:FB) by 14.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,381 shares of the social networking company’s stock after purchasing an additional 567 shares during the period. Archford Capital Strategies LLC’s holdings in Facebook were worth $846,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Coastline Trust Co lifted its position in shares of Facebook by 1.2% in the 2nd quarter. Coastline Trust Co now owns 20,915 shares of the social networking company’s stock worth $4,037,000 after acquiring an additional 250 shares during the period. YorkBridge Wealth Partners LLC lifted its position in shares of Facebook by 8.3% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 18,334 shares of the social networking company’s stock worth $3,538,000 after acquiring an additional 1,403 shares during the period. Hanson & Doremus Investment Management raised its holdings in shares of Facebook by 16.1% in the 2nd quarter. Hanson & Doremus Investment Management now owns 541 shares of the social networking company’s stock worth $104,000 after buying an additional 75 shares in the last quarter. Mitsubishi UFJ Asset Management UK Ltd. acquired a new position in shares of Facebook in the 2nd quarter worth approximately $3,088,000. Finally, Gemmer Asset Management LLC raised its holdings in shares of Facebook by 9.1% in the 2nd quarter. Gemmer Asset Management LLC now owns 4,058 shares of the social networking company’s stock worth $783,000 after buying an additional 339 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 posted its quarterly earnings data on Wednesday, July 24th. The social networking company reported $1.99 EPS for the quarter, beating 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 firm 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. The company’s revenue for the quarter was up 27.6% on a year-over-year basis. On average, analysts anticipate that Facebook, Inc. will post 7.96 earnings per share for the current fiscal year.
A number of equities analysts have recently issued reports on the company. Royal Bank of Canada reissued a “buy” rating and issued a $260.00 target price on shares of Facebook in a report on Thursday, July 25th. Citigroup raised their price target on Facebook from $212.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, July 25th. MKM Partners reaffirmed a “buy” rating and set a $245.00 price target (up from $190.00) on shares of Facebook in a report on Friday, August 2nd. China Renaissance Securities began coverage on Facebook in a research note on Wednesday, May 29th. They issued a “buy” rating and a $245.00 target price for the company. Finally, Robert W. Baird lifted their target price on Facebook from $215.00 to $230.00 and gave the company an “outperform” rating in a research note 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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