Axel Capital Management LLC trimmed its position in Facebook, Inc. (NASDAQ:FB) by 60.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,000 shares of the social networking company’s stock after selling 39,000 shares during the period. Facebook comprises 4.7% of Axel Capital Management LLC’s portfolio, making the stock its 7th biggest holding. Axel Capital Management LLC’s holdings in Facebook were worth $5,052,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Manchester Capital Management LLC boosted its stake in shares of Facebook by 56.2% during the 1st quarter. Manchester Capital Management LLC now owns 3,829 shares of the social networking company’s stock valued at $612,000 after buying an additional 1,377 shares during the period. Thornburg Investment Management Inc. increased its holdings in shares of Facebook by 3.8% during the 1st quarter. Thornburg Investment Management Inc. now owns 1,413,987 shares of the social networking company’s stock worth $225,941,000 after purchasing an additional 51,278 shares during the period. Columbia Asset Management increased its holdings in shares of Facebook by 61.2% during the 1st quarter. Columbia Asset Management now owns 3,595 shares of the social networking company’s stock worth $574,000 after purchasing an additional 1,365 shares during the period. Price Wealth Management Inc. increased its holdings in shares of Facebook by 175.8% during the 1st quarter. Price Wealth Management Inc. now owns 1,644 shares of the social networking company’s stock worth $262,000 after purchasing an additional 1,048 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Facebook by 3.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 8,436,515 shares of the social networking company’s stock worth $1,348,071,000 after purchasing an additional 310,835 shares during the period. 58.42% of the stock is currently owned by institutional investors and hedge funds.
In other Facebook news, insider Christopher K. Cox sold 5,300 shares of the stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $171.28, for a total value of $907,784.00. Following the completion of the transaction, the insider now owns 134,737 shares in the company, valued at $23,077,753.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Sheryl Sandberg sold 55,000 shares of the stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $169.67, for a total value of $9,331,850.00. The disclosure for this sale can be found here. Insiders sold 524,153 shares of company stock valued at $80,193,956 in the last ninety days. 16.25% of the stock is currently owned by insiders.
Facebook (NASDAQ:FB) last issued its earnings results on Tuesday, October 30th. The social networking company reported $1.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.30. The business had revenue of $13.73 billion during the quarter, compared to analyst estimates of $13.82 billion. Facebook had a return on equity of 27.89% and a net margin of 37.57%. Facebook’s revenue for the quarter was up 32.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.59 earnings per share. As a group, equities research analysts anticipate that Facebook, Inc. will post 7.36 EPS for the current year.
Several analysts have recently weighed in on FB shares. Wells Fargo & Co set a $220.00 target price on shares of Facebook and gave the company a “buy” rating in a research report on Monday, October 29th. Cleveland Research reissued a “buy” rating on shares of Facebook in a research note on Thursday, September 13th. UBS Group reduced their target price on shares of Facebook from $180.00 to $160.00 and set a “neutral” rating for the company in a report on Wednesday, October 31st. Credit Suisse Group lowered their price target on shares of Facebook from $225.00 to $210.00 and set an “outperform” rating on the stock in a research report on Monday, October 8th. Finally, Pivotal Research reduced their price target on shares of Facebook from $140.00 to $131.00 and set a “sell” rating on the stock in a research note on Friday, October 12th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $192.77.
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Facebook Company Profile
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.
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