Dai Ichi Life Insurance Company Ltd lifted its holdings in Facebook Inc (NASDAQ:FB) by 26.9% during the third quarter, HoldingsChannel reports. The firm owned 412,940 shares of the social networking company’s stock after purchasing an additional 87,487 shares during the period. Facebook accounts for 1.5% of Dai Ichi Life Insurance Company Ltd’s portfolio, making the stock its 9th biggest position. Dai Ichi Life Insurance Company Ltd’s holdings in Facebook were worth $70,559,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also made changes to their positions in FB. Moisand Fitzgerald Tamayo LLC bought a new stake in Facebook during the third quarter worth $111,000. Mountain Capital Investment Advisors Inc bought a new stake in Facebook during the second quarter worth $138,000. Stelac Advisory Services LLC bought a new stake in Facebook during the third quarter worth $152,000. Odey Holdings AG raised its position in Facebook by 5.4% during the second quarter. Odey Holdings AG now owns 1,060 shares of the social networking company’s stock worth $160,000 after acquiring an additional 54 shares in the last quarter. Finally, Almanack Investment Partners LLC. bought a new stake in Facebook during the second quarter worth $165,000. 57.67% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have issued reports on FB. BidaskClub raised shares of Facebook from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 10th. Vetr lowered shares of Facebook from a “strong-buy” rating to a “buy” rating and set a $209.00 price target on the stock. in a research report on Tuesday, January 30th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $210.00 price target on shares of Facebook in a research report on Thursday, February 1st. Credit Suisse Group reaffirmed an “outperform” rating and set a $240.00 price target (up from $232.00) on shares of Facebook in a research report on Thursday, February 1st. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $240.00 price target (up from $230.00) on shares of Facebook in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating, forty-two have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $214.70.
Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, January 31st. The social networking company reported $2.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.96 by $0.24. Facebook had a net margin of 39.16% and a return on equity of 26.49%. The business had revenue of $12.97 billion for the quarter, compared to the consensus estimate of $12.58 billion. equities research analysts forecast that Facebook Inc will post 7.22 EPS for the current fiscal year.
In other Facebook news, Director Peter Thiel sold 160,805 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $178.90, for a total transaction of $28,768,014.50. Following the sale, the director now directly owns 6,311 shares in the company, valued at $1,129,037.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 220,000 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $177.39, for a total transaction of $39,025,800.00. The disclosure for this sale can be found here. Insiders sold 1,116,259 shares of company stock worth $200,172,247 over the last 90 days. 17.23% of the stock is currently owned by corporate insiders.
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Facebook Company Profile
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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