Northstar Group Inc. Takes $2.03 Million Position in Facebook, Inc. (FB)

Northstar Group Inc. bought a new stake in Facebook, Inc. (NASDAQ:FB) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,460 shares of the social networking company’s stock, valued at approximately $2,033,000.

Other institutional investors have also recently modified their holdings of the company. Townsend & Associates Inc increased its holdings in Facebook by 6.6% during the 2nd quarter. Townsend & Associates Inc now owns 4,077 shares of the social networking company’s stock worth $792,000 after purchasing an additional 254 shares in the last quarter. Winslow Evans & Crocker Inc. increased its holdings in Facebook by 2.2% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 12,658 shares of the social networking company’s stock worth $2,462,000 after purchasing an additional 274 shares in the last quarter. Harvest Group Wealth Management LLC increased its holdings in Facebook by 2.4% during the 1st quarter. Harvest Group Wealth Management LLC now owns 12,430 shares of the social networking company’s stock worth $1,986,000 after purchasing an additional 286 shares in the last quarter. Truewealth LLC increased its holdings in Facebook by 7.1% during the 2nd quarter. Truewealth LLC now owns 4,306 shares of the social networking company’s stock worth $837,000 after purchasing an additional 287 shares in the last quarter. Finally, Sit Investment Associates Inc. increased its holdings in Facebook by 0.5% during the 2nd quarter. Sit Investment Associates Inc. now owns 56,660 shares of the social networking company’s stock worth $11,010,000 after purchasing an additional 290 shares in the last quarter. 60.52% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have commented on FB. Raymond James set a $210.00 price objective on Facebook and gave the stock a “buy” rating in a report on Friday. Stifel Nicolaus set a $202.00 target price on Facebook and gave the company a “buy” rating in a report on Friday. Zacks Investment Research raised Facebook from a “sell” rating to a “hold” rating in a report on Wednesday. Rosenblatt Securities started coverage on Facebook in a report on Tuesday. They issued a “buy” rating and a $213.00 target price for the company. Finally, Loop Capital started coverage on Facebook in a report on Monday, October 15th. They issued a “buy” rating and a $210.00 target price for the company. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the stock. Facebook has a consensus rating of “Buy” and an average price target of $205.89.

In other Facebook news, VP Colin Stretch sold 750 shares of the stock in a transaction on Wednesday, October 17th. The stock was sold at an average price of $160.00, for a total transaction of $120,000.00. Following the sale, the vice president now owns 92,394 shares in the company, valued at $14,783,040. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christopher K. Cox sold 10,600 shares of the stock in a transaction on Monday, July 23rd. The stock was sold at an average price of $210.66, for a total value of $2,232,996.00. Following the sale, the insider now owns 115,882 shares in the company, valued at approximately $24,411,702.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,562,446 shares of company stock worth $825,027,731. Company insiders own 17.23% of the company’s stock.

Facebook stock opened at $154.05 on Friday. Facebook, Inc. has a 12 month low of $149.02 and a 12 month high of $218.62. The company has a market capitalization of $463.12 billion, a P/E ratio of 25.01, a PEG ratio of 0.98 and a beta of 0.42.

Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, July 25th. The social networking company reported $1.74 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.01). Facebook had a net margin of 39.31% and a return on equity of 28.16%. The firm had revenue of $13.23 billion during the quarter, compared to analysts’ expectations of $13.35 billion. During the same quarter in the previous year, the company posted $1.32 EPS. Facebook’s revenue for the quarter was up 41.9% on a year-over-year basis. As a group, equities analysts expect that Facebook, Inc. will post 7.07 EPS for the current year.

About Facebook

Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.

Further Reading: NASDAQ

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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