Cobiz Wealth LLC Cuts Position in Facebook, Inc. (FB)

Cobiz Wealth LLC cut its stake in Facebook, Inc. (NASDAQ:FB) by 94.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,211 shares of the social networking company’s stock after selling 56,183 shares during the quarter. Cobiz Wealth LLC’s holdings in Facebook were worth $421,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in FB. Mission Wealth Management LP increased its holdings in Facebook by 3.8% during the 3rd quarter. Mission Wealth Management LP now owns 10,426 shares of the social networking company’s stock valued at $1,715,000 after purchasing an additional 386 shares during the period. Montrusco Bolton Investments Inc. increased its holdings in Facebook by 14.0% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 106,851 shares of the social networking company’s stock valued at $17,525,000 after purchasing an additional 13,124 shares during the period. Rovida Advisors Inc. purchased a new position in Facebook during the 3rd quarter valued at about $18,714,000. First American Bank purchased a new position in Facebook during the 3rd quarter valued at about $6,317,000. Finally, CENTRAL TRUST Co increased its holdings in Facebook by 7.1% during the 3rd quarter. CENTRAL TRUST Co now owns 39,175 shares of the social networking company’s stock valued at $6,443,000 after purchasing an additional 2,581 shares during the period. Institutional investors own 60.22% of the company’s stock.

FB stock traded down $0.50 during trading on Friday, reaching $178.28. The company’s stock had a trading volume of 11,655,608 shares, compared to its average volume of 13,570,485. Facebook, Inc. has a 1 year low of $123.02 and a 1 year high of $218.62. The firm has a market capitalization of $517.90 billion, a PE ratio of 23.55, a PEG ratio of 1.30 and a beta of 0.88.

Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, January 30th. The social networking company reported $2.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.18 by $0.20. Facebook had a return on equity of 27.51% and a net margin of 39.60%. The business had revenue of $16.91 billion during the quarter, compared to analyst estimates of $16.40 billion. During the same quarter in the prior year, the business posted $1.44 EPS. Facebook’s revenue for the quarter was up 30.4% compared to the same quarter last year. Equities analysts anticipate that Facebook, Inc. will post 7.54 earnings per share for the current fiscal year.

In related news, CEO Mark Zuckerberg sold 294,100 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $178.29, for a total value of $52,435,089.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Susan J.S. Taylor sold 1,442 shares of the stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $162.02, for a total transaction of $233,632.84. Following the completion of the transaction, the chief accounting officer now directly owns 1,569 shares of the company’s stock, valued at approximately $254,209.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,594,435 shares of company stock valued at $277,936,313. Company insiders own 14.53% of the company’s stock.

A number of research analysts have weighed in on the company. Zacks Investment Research upgraded Facebook from a “hold” rating to a “buy” rating and set a $149.00 target price on the stock in a report on Wednesday, January 2nd. Goldman Sachs Group reiterated a “buy” rating and set a $195.00 target price on shares of Facebook in a report on Wednesday, January 16th. Citigroup reiterated a “buy” rating and set a $185.00 target price (up previously from $175.00) on shares of Facebook in a report on Thursday, January 31st. Wedbush reduced their target price on Facebook to $200.00 and set a “buy” rating on the stock in a report on Monday, February 4th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and set a $195.00 target price on shares of Facebook in a report on Tuesday, January 8th. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and thirty-nine have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $192.11.

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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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