Martingale Asset Management L P Trims Stake in Facebook, Inc. (FB)

Martingale Asset Management L P decreased its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 11.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 406,842 shares of the social networking company’s stock after selling 52,103 shares during the period. Facebook makes up 0.8% of Martingale Asset Management L P’s portfolio, making the stock its 12th biggest holding. Martingale Asset Management L P’s holdings in Facebook were worth $66,910,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of FB. Chase Investment Counsel Corp increased its holdings in shares of Facebook by 18.1% in the second quarter. Chase Investment Counsel Corp now owns 21,570 shares of the social networking company’s stock worth $4,191,000 after purchasing an additional 3,299 shares during the last quarter. FTB Advisors Inc. increased its holdings in shares of Facebook by 305.9% in the second quarter. FTB Advisors Inc. now owns 16,700 shares of the social networking company’s stock worth $3,244,000 after purchasing an additional 12,586 shares during the last quarter. Clarius Group LLC increased its holdings in shares of Facebook by 3.7% in the second quarter. Clarius Group LLC now owns 13,167 shares of the social networking company’s stock worth $2,559,000 after purchasing an additional 475 shares during the last quarter. Private Advisory Group LLC increased its holdings in shares of Facebook by 13.9% in the second quarter. Private Advisory Group LLC now owns 37,056 shares of the social networking company’s stock worth $7,201,000 after purchasing an additional 4,511 shares during the last quarter. Finally, Partnervest Advisory Services LLC increased its stake in Facebook by 10.3% during the second quarter. Partnervest Advisory Services LLC now owns 10,340 shares of the social networking company’s stock worth $2,009,000 after acquiring an additional 962 shares during the last quarter. Institutional investors own 59.63% of the company’s stock.

Shares of NASDAQ FB opened at $165.98 on Monday. The company has a market capitalization of $482.17 billion, a P/E ratio of 21.93, a PEG ratio of 1.01 and a beta of 0.88. Facebook, Inc. has a 52-week low of $123.02 and a 52-week high of $218.62.

Facebook (NASDAQ:FB) last announced its quarterly earnings results on Wednesday, January 30th. The social networking company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.20. The firm had revenue of $16.91 billion during the quarter, compared to analyst estimates of $16.40 billion. Facebook had a return on equity of 27.51% and a net margin of 39.60%. Facebook’s quarterly revenue was up 30.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.44 earnings per share. As a group, research analysts expect that Facebook, Inc. will post 7.55 EPS for the current fiscal year.

Several equities research analysts have weighed in on the company. Zacks Investment Research cut Facebook from a “buy” rating to a “hold” rating in a research note on Tuesday, March 12th. Stifel Nicolaus reissued a “hold” rating and set a $155.00 price objective on shares of Facebook in a research note on Thursday. CIBC reissued an “outperform” rating and set a $195.00 price objective (up from $185.00) on shares of Facebook in a research note on Thursday, January 31st. Nomura raised Facebook from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $172.00 to $215.00 in a research note on Monday, March 11th. Finally, BidaskClub raised Facebook from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and forty have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $191.58.

In other Facebook news, insider Christopher K. Cox sold 15,900 shares of the company’s stock in a transaction on Tuesday, January 15th. The stock was sold at an average price of $150.07, for a total transaction of $2,386,113.00. Following the completion of the sale, the insider now owns 279,684 shares in the company, valued at $41,972,177.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Colin Stretch sold 750 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $172.35, for a total value of $129,262.50. Following the sale, the vice president now owns 104,622 shares of the company’s stock, valued at approximately $18,031,601.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 391,461 shares of company stock valued at $60,325,530. 16.25% of the stock is owned by company insiders.

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About Facebook

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.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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