Sompo Japan Nipponkoa Asset Management CO. LTD. lessened its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 68.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,440 shares of the social networking company’s stock after selling 14,221 shares during the quarter. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in Facebook were worth $844,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Contravisory Investment Management Inc. raised its stake in shares of Facebook by 153.2% in the 4th quarter. Contravisory Investment Management Inc. now owns 200 shares of the social networking company’s stock worth $26,000 after buying an additional 121 shares in the last quarter. Jackson Grant Investment Advisers Inc. bought a new stake in shares of Facebook in the 4th quarter worth $31,000. Signet Investment Advisory Group Inc. bought a new stake in shares of Facebook in the 4th quarter worth $39,000. Ruggie Capital Group raised its stake in shares of Facebook by 53.8% in the 4th quarter. Ruggie Capital Group now owns 446 shares of the social networking company’s stock worth $58,000 after buying an additional 156 shares in the last quarter. Finally, Accurate Investment Solutions Inc. raised its stake in shares of Facebook by 35.6% in the 4th quarter. Accurate Investment Solutions Inc. now owns 453 shares of the social networking company’s stock worth $59,000 after buying an additional 119 shares in the last quarter. Institutional investors own 60.22% of the company’s stock.
FB has been the topic of a number of recent analyst reports. Citigroup reaffirmed a “buy” rating and set a $185.00 target price (up from $175.00) on shares of Facebook in a research report on Thursday, January 31st. Rosenblatt Securities reaffirmed a “buy” rating and set a $212.00 target price (up from $206.00) on shares of Facebook in a research report on Thursday, January 31st. Jefferies Financial Group reaffirmed a “buy” rating and set a $200.00 target price (up from $180.00) on shares of Facebook in a research report on Thursday, January 31st. Canaccord Genuity boosted their target price on Facebook from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, January 31st. Finally, Deutsche Bank reaffirmed a “buy” rating and set a $200.00 target price (up from $195.00) on shares of Facebook in a research report on Thursday, January 31st. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and forty-one have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $206.58.
In other news, VP Colin Stretch sold 750 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $194.78, for a total transaction of $146,085.00. Following the completion of the sale, the vice president now owns 99,372 shares in the company, valued at approximately $19,355,678.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO David M. Wehner sold 4,979 shares of the company’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $160.35, for a total value of $798,382.65. Following the sale, the chief financial officer now owns 49,214 shares of the company’s stock, valued at approximately $7,891,464.90. The disclosure for this sale can be found here. Insiders sold 1,552,312 shares of company stock worth $274,127,301 in the last 90 days. Corporate insiders own 14.53% of the company’s stock.
Shares of NASDAQ FB opened at $182.05 on Monday. The company has a current ratio of 5.38, a quick ratio of 5.38 and a debt-to-equity ratio of 0.08. Facebook, Inc. has a one year low of $123.02 and a one year high of $218.62. The stock has a market capitalization of $538.30 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 1.14 and a beta of 0.93.
Facebook (NASDAQ:FB) last issued its earnings results on Wednesday, April 24th. The social networking company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.80). Facebook had a net margin of 33.17% and a return on equity of 23.67%. The firm had revenue of $15.08 billion during the quarter, compared to analysts’ expectations of $14.97 billion. During the same quarter last year, the firm earned $1.69 EPS. The business’s revenue for the quarter was up 26.0% compared to the same quarter last year. On average, equities research analysts anticipate that Facebook, Inc. will post 8.05 EPS for the current fiscal year.
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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: Do stock splits help investors?
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