Pictet Asset Management Ltd. increased its position in Facebook, Inc. (NASDAQ:FB) by 5.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,860,282 shares of the social networking company’s stock after buying an additional 99,643 shares during the period. Facebook makes up approximately 0.9% of Pictet Asset Management Ltd.’s investment portfolio, making the stock its 11th largest position. Pictet Asset Management Ltd. owned 0.06% of Facebook worth $264,253,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its stake in shares of Facebook by 1.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 240,103 shares of the social networking company’s stock worth $27,619,000 after buying an additional 2,350 shares in the last quarter. Selkirk Management LLC acquired a new stake in Facebook during the fourth quarter worth $3,106,000. Guardian Capital LP boosted its stake in Facebook by 2.3% in the fourth quarter. Guardian Capital LP now owns 6,176 shares of the social networking company’s stock worth $711,000 after buying an additional 139 shares during the period. Barrington Strategic Wealth Management Group LLC boosted its stake in Facebook by 1.3% in the fourth quarter. Barrington Strategic Wealth Management Group LLC now owns 2,015 shares of the social networking company’s stock worth $232,000 after buying an additional 25 shares during the period. Finally, Intact Investment Management Inc. boosted its stake in Facebook by 6.4% in the fourth quarter. Intact Investment Management Inc. now owns 16,700 shares of the social networking company’s stock worth $1,923,000 after buying an additional 1,000 shares during the period. Institutional investors own 57.40% of the company’s stock.
Facebook, Inc. (FB) traded up 0.30% on Friday, reaching $167.41. The company had a trading volume of 15,093,638 shares. The stock’s 50-day moving average is $163.85 and its 200-day moving average is $148.79. The company has a market capitalization of $486.19 billion, a P/E ratio of 37.47 and a beta of 0.70. Facebook, Inc. has a 52 week low of $113.55 and a 52 week high of $175.49.
Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, July 26th. The social networking company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.19. The company had revenue of $9.32 billion during the quarter, compared to the consensus estimate of $9.19 billion. Facebook had a net margin of 38.84% and a return on equity of 21.73%. Facebook’s revenue for the quarter was up 44.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.97 earnings per share. Equities research analysts forecast that Facebook, Inc. will post $5.33 EPS for the current fiscal year.
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A number of equities research analysts recently weighed in on FB shares. Pacific Crest restated an “overweight” rating and issued a $155.00 price target on shares of Facebook in a research note on Monday, April 24th. Needham & Company LLC increased their price target on Facebook from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Wedbush set a $185.00 price target on Facebook and gave the company a “buy” rating in a research note on Thursday, May 4th. Morgan Stanley restated a “buy” rating and issued a $175.00 price target on shares of Facebook in a research note on Thursday, May 4th. Finally, Nomura set a $165.00 price target on Facebook and gave the company a “buy” rating in a research note on Wednesday, May 3rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, forty-two have given a buy rating and three have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $183.47.
In other news, CEO Mark Zuckerberg sold 279,533 shares of the company’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $152.04, for a total transaction of $42,500,197.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Peter Thiel sold 60,316 shares of the company’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $172.25, for a total value of $10,389,431.00. Following the completion of the transaction, the director now directly owns 6,311 shares in the company, valued at $1,087,069.75. The disclosure for this sale can be found here. Insiders sold 12,702,398 shares of company stock valued at $2,054,828,660 in the last three months. 19.08% of the stock is currently owned by insiders.
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.
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