Mcrae Capital Management Inc. decreased its stake in Facebook, Inc. (NASDAQ:FB) by 2.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,311 shares of the social networking company’s stock after selling 875 shares during the period. Facebook comprises about 3.0% of Mcrae Capital Management Inc.’s holdings, making the stock its 12th largest holding. Mcrae Capital Management Inc.’s holdings in Facebook were worth $8,986,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently modified their holdings of the stock. Copper Rock Capital Partners LLC raised its holdings in shares of Facebook by 6,224.9% during the second quarter. Copper Rock Capital Partners LLC now owns 3,959,790 shares of the social networking company’s stock worth $821,695,000 after acquiring an additional 3,897,184 shares in the last quarter. GQG Partners LLC bought a new stake in Facebook in the 2nd quarter valued at $590,767,000. Bank of New York Mellon Corp lifted its position in Facebook by 11.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 24,179,742 shares of the social networking company’s stock valued at $5,490,495,000 after acquiring an additional 2,431,190 shares in the last quarter. Jennison Associates LLC lifted its position in Facebook by 16.6% during the 2nd quarter. Jennison Associates LLC now owns 14,807,293 shares of the social networking company’s stock worth $3,362,292,000 after buying an additional 2,110,327 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in Facebook by 108.0% during the 2nd quarter. Nordea Investment Management AB now owns 3,619,692 shares of the social networking company’s stock worth $794,884,000 after buying an additional 1,879,792 shares in the last quarter. 65.31% of the stock is owned by institutional investors and hedge funds.
FB has been the topic of a number of research analyst reports. Pivotal Research upped their target price on shares of Facebook from $225.00 to $275.00 and gave the company a “hold” rating in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft increased their target price on shares of Facebook from $305.00 to $325.00 and gave the stock a “buy” rating in a research report on Monday, October 12th. Mizuho increased their price target on shares of Facebook from $315.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, October 26th. Bank of America increased their price target on shares of Facebook from $265.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Truist increased their price objective on shares of Facebook from $285.00 to $310.00 in a research note on Friday, October 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $293.84.
NASDAQ FB opened at $274.46 on Tuesday. The company has a fifty day moving average of $271.39 and a two-hundred day moving average of $250.20. The firm has a market capitalization of $794.56 billion, a price-to-earnings ratio of 31.77, a PEG ratio of 1.69 and a beta of 1.26. Facebook, Inc. has a 52 week low of $137.10 and a 52 week high of $304.67.
Facebook (NASDAQ:FB) last released its earnings results on Thursday, October 29th. The social networking company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.77. Facebook had a return on equity of 23.27% and a net margin of 32.00%. The business had revenue of $21.47 billion during the quarter, compared to the consensus estimate of $19.78 billion. During the same period last year, the company earned $2.12 earnings per share. The business’s revenue for the quarter was up 21.6% compared to the same quarter last year. As a group, research analysts anticipate that Facebook, Inc. will post 9.18 EPS for the current fiscal year.
In related news, CEO Mark Zuckerberg sold 62,250 shares of Facebook stock in a transaction dated Friday, November 13th. The stock was sold at an average price of $275.56, for a total value of $17,153,610.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jennifer Newstead sold 426 shares of Facebook stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $295.54, for a total value of $125,900.04. Following the completion of the sale, the vice president now owns 4,286 shares of the company’s stock, valued at $1,266,684.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 171,115 shares of company stock valued at $47,419,396. Corporate insiders own 14.14% of the company’s stock.
Facebook, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices 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 private messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application that is used by people and businesses to communicate in a private way.
Want to see what other hedge funds are holding FB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Facebook, Inc. (NASDAQ:FB).
Receive News & Ratings for Facebook Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook and related companies with MarketBeat.com's FREE daily email newsletter.