Matthew 25 Management Corp reduced its position in Facebook, Inc. (NASDAQ:FB) by 2.6% in the 2nd quarter, Holdings Channel reports. The fund owned 92,500 shares of the social networking company’s stock after selling 2,500 shares during the period. Facebook makes up about 8.8% of Matthew 25 Management Corp’s investment portfolio, making the stock its 3rd biggest position. Matthew 25 Management Corp’s holdings in Facebook were worth $32,163,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in FB. Factorial Partners LLC purchased a new stake in Facebook in the 1st quarter worth approximately $12,300,000. Price T Rowe Associates Inc. MD grew its stake in Facebook by 2.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 104,548,050 shares of the social networking company’s stock worth $30,792,537,000 after acquiring an additional 2,802,398 shares during the period. FMR LLC grew its stake in Facebook by 1.7% in the 2nd quarter. FMR LLC now owns 127,113,861 shares of the social networking company’s stock worth $44,198,761,000 after acquiring an additional 2,129,463 shares during the period. Lone Pine Capital LLC grew its stake in Facebook by 58.4% in the 1st quarter. Lone Pine Capital LLC now owns 5,662,359 shares of the social networking company’s stock worth $1,667,735,000 after acquiring an additional 2,086,813 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Facebook by 40.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 4,997,228 shares of the social networking company’s stock valued at $1,471,834,000 after purchasing an additional 1,437,368 shares during the last quarter. 65.72% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Jennifer Newstead sold 125 shares of the business’s stock in a transaction dated Tuesday, September 28th. The shares were sold at an average price of $347.98, for a total transaction of $43,497.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 77,300 shares of the company’s stock in a transaction dated Wednesday, July 21st. The stock was sold at an average price of $344.16, for a total transaction of $26,603,568.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,481,633 shares of company stock valued at $890,771,287. Insiders own 14.01% of the company’s stock.
Facebook (NASDAQ:FB) last released its earnings results on Wednesday, July 28th. The social networking company reported $3.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.03 by $0.58. The company had revenue of $29.08 billion during the quarter, compared to the consensus estimate of $27.93 billion. Facebook had a net margin of 37.17% and a return on equity of 30.09%. On average, research analysts predict that Facebook, Inc. will post 14.11 EPS for the current fiscal year.
FB has been the topic of a number of research analyst reports. DZ Bank lowered shares of Facebook from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a report on Tuesday, October 5th. Rosenblatt Securities lowered shares of Facebook from a “buy” rating to a “neutral” rating and set a $400.00 price target on the stock. in a report on Wednesday, September 1st. Cowen lifted their price target on shares of Facebook from $400.00 to $415.00 and gave the company an “outperform” rating in a report on Thursday, July 29th. Canaccord Genuity lifted their price target on shares of Facebook from $380.00 to $420.00 and gave the company a “buy” rating in a report on Thursday, July 29th. Finally, HSBC lifted their price target on shares of Facebook from $275.00 to $300.00 and gave the company a “reduce” rating in a report on Thursday, September 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-one have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $406.31.
Facebook Company Profile
Facebook, Inc operates as a social networking company worldwide. The company engages in the development of social media applications for people to connect through mobile devices, personal computers, and other surfaces. It enables users to share opinions, ideas, photos, videos, and other activities online.
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