Mckinley Capital Management LLC Delaware Increases Stake in Facebook, Inc. (NASDAQ:FB)

Mckinley Capital Management LLC Delaware boosted its stake in shares of Facebook, Inc. (NASDAQ:FB) by 5.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 201,925 shares of the social networking company’s stock after acquiring an additional 10,353 shares during the quarter. Facebook accounts for about 2.5% of Mckinley Capital Management LLC Delaware’s investment portfolio, making the stock its 4th largest holding. Mckinley Capital Management LLC Delaware’s holdings in Facebook were worth $38,972,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Fusion Family Wealth LLC boosted its holdings in Facebook by 121.3% during the 2nd quarter. Fusion Family Wealth LLC now owns 3,453 shares of the social networking company’s stock valued at $666,000 after acquiring an additional 1,893 shares during the period. Picton Mahoney Asset Management lifted its holdings in Facebook by 50.6% in the 2nd quarter. Picton Mahoney Asset Management now owns 104,500 shares of the social networking company’s stock worth $20,169,000 after buying an additional 35,100 shares during the period. Cabot Wealth Management Inc. purchased a new stake in Facebook in the 2nd quarter worth approximately $1,347,000. Jennison Associates LLC lifted its holdings in Facebook by 12.4% in the 2nd quarter. Jennison Associates LLC now owns 15,973,272 shares of the social networking company’s stock worth $3,082,841,000 after buying an additional 1,758,154 shares during the period. Finally, Cynosure Management LLC purchased a new stake in Facebook in the 2nd quarter worth approximately $586,000. Institutional investors own 62.44% of the company’s stock.

FB has been the subject of several research analyst reports. ValuEngine cut Facebook from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Morgan Stanley increased their price objective on Facebook from $220.00 to $235.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Oppenheimer increased their price objective on Facebook from $225.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Goldman Sachs Group set a $228.00 price objective on Facebook and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, SunTrust Banks reiterated a “buy” rating and issued a $215.00 price objective on shares of Facebook in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and forty-two have issued a buy rating to the company. Facebook currently has a consensus rating of “Buy” and an average price target of $220.92.

In other Facebook news, CRO David B. Fischer sold 11,572 shares of Facebook stock in a transaction on Friday, May 31st. The stock was sold at an average price of $180.28, for a total value of $2,086,200.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Sheryl Sandberg sold 55,000 shares of Facebook stock in a transaction on Monday, June 10th. The stock was sold at an average price of $175.82, for a total value of $9,670,100.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,337,995 shares of company stock valued at $248,254,692. 14.53% of the stock is owned by corporate insiders.

FB stock traded down $4.29 on Friday, reaching $177.75. 14,354,973 shares of the company traded hands, compared to its average volume of 16,043,085. Facebook, Inc. has a one year low of $123.02 and a one year high of $208.66. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.47 and a quick ratio of 4.47. The company has a market cap of $523.66 billion, a P/E ratio of 23.48, a price-to-earnings-growth ratio of 1.07 and a beta of 0.99. The firm has a fifty day simple moving average of $193.38 and a 200-day simple moving average of $180.93.

Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, July 24th. The social networking company reported $1.99 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.09. Facebook had a return on equity of 20.09% and a net margin of 27.26%. The company had revenue of $16.89 billion during the quarter, compared to analyst estimates of $16.49 billion. During the same quarter last year, the company earned $1.74 EPS. The firm’s revenue for the quarter was up 27.6% on a year-over-year basis. On average, sell-side analysts forecast that Facebook, Inc. will post 8.03 EPS for the current year.

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.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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