Coconut Grove Bank Decreases Position in Facebook, Inc. (FB)

Coconut Grove Bank reduced its position in shares of Facebook, Inc. (NASDAQ:FB) by 27.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,457 shares of the social networking company’s stock after selling 1,339 shares during the period. Coconut Grove Bank’s holdings in Facebook were worth $491,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Diligent Investors LLC purchased a new position in Facebook during the fourth quarter worth $396,000. Total Investment Management Inc. purchased a new position in Facebook during the fourth quarter worth $210,000. Cim Investment Mangement Inc. increased its position in Facebook by 0.9% in the fourth quarter. Cim Investment Mangement Inc. now owns 19,810 shares of the social networking company’s stock worth $2,279,000 after buying an additional 184 shares during the period. Meridian Wealth Management LLC purchased a new position in Facebook during the fourth quarter worth $4,731,000. Finally, Lyell Wealth Management LP purchased a new position in Facebook during the fourth quarter worth $3,931,000. 57.40% of the stock is currently owned by institutional investors.

Facebook, Inc. (NASDAQ FB) traded up 0.30% during trading on Friday, hitting $167.41. 15,093,638 shares of the stock traded hands. The firm has a market cap of $486.19 billion, a PE ratio of 37.47 and a beta of 0.70. Facebook, Inc. has a 12 month low of $113.55 and a 12 month high of $175.49. The firm has a 50-day moving average price of $163.39 and a 200 day moving average price of $148.53.

Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.19. The business had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.19 billion. Facebook had a net margin of 38.84% and a return on equity of 21.73%. The business’s quarterly revenue was up 44.8% on a year-over-year basis. During the same quarter last year, the company posted $0.97 earnings per share. On average, equities analysts forecast that Facebook, Inc. will post $5.33 EPS for the current fiscal year.

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A number of research firms recently weighed in on FB. Barclays PLC set a $200.00 price target on Facebook and gave the stock a “buy” rating in a research note on Friday, July 28th. FBN Securities reaffirmed an “outperform” rating and set a $210.00 price target (up from $175.00) on shares of Facebook in a research note on Sunday, July 30th. Morgan Stanley set a $190.00 price target on Facebook and gave the stock a “buy” rating in a research note on Monday, July 31st. Atlantic Securities set a $200.00 price target on Facebook and gave the stock a “buy” rating in a research note on Monday, July 31st. Finally, Pivotal Research downgraded Facebook from a “hold” rating to a “sell” rating and dropped their price target for the stock from $172.45 to $140.00 in a research note on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, forty-two have assigned a buy rating and three have assigned a strong buy rating to the stock. Facebook presently has an average rating of “Buy” and an average price target of $183.47.

In other news, Director Jan Koum sold 2,953,492 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $170.17, for a total value of $502,595,733.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Sheryl Sandberg sold 163,500 shares of the stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $149.55, for a total transaction of $24,451,425.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,702,398 shares of company stock valued at $2,054,828,660. Corporate insiders own 19.08% of the company’s stock.

About Facebook

Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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