Taikang Asset Management Hong Kong Co Ltd raised its stake in Facebook, Inc. (NASDAQ:FB) by 9.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 13,579 shares of the social networking company’s stock after buying an additional 1,168 shares during the period. Facebook comprises 0.7% of Taikang Asset Management Hong Kong Co Ltd’s holdings, making the stock its 29th largest position. Taikang Asset Management Hong Kong Co Ltd’s holdings in Facebook were worth $4,722,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the business. Baldrige Asset Management LLC acquired a new stake in shares of Facebook during the second quarter worth about $31,000. Baron Financial Group LLC raised its position in shares of Facebook by 71.4% during the first quarter. Baron Financial Group LLC now owns 120 shares of the social networking company’s stock worth $35,000 after purchasing an additional 50 shares during the period. Cranbrook Wealth Management LLC raised its position in shares of Facebook by 43.1% during the first quarter. Cranbrook Wealth Management LLC now owns 156 shares of the social networking company’s stock worth $46,000 after purchasing an additional 47 shares during the period. Paragon Wealth Strategies LLC acquired a new stake in shares of Facebook during the second quarter worth about $46,000. Finally, Horan Securities Inc. raised its position in shares of Facebook by 309.1% during the second quarter. Horan Securities Inc. now owns 135 shares of the social networking company’s stock worth $47,000 after purchasing an additional 102 shares during the period. 65.72% of the stock is currently owned by hedge funds and other institutional investors.
Get Facebook alerts: In other news, VP Jennifer Newstead sold 241 shares of the business’s stock in a transaction dated Tuesday, August 10th. The stock was sold at an average price of $361.94, for a total value of $87,227.54. The sale was disclosed in a filing with the SEC, which can be accessed through this link . Also, CFO David M. Wehner sold 1,545 shares of the business’s stock in a transaction dated Sunday, August 15th. The shares were sold at an average price of $363.18, for a total value of $561,113.10. Following the completion of the transaction, the chief financial officer now directly owns 27,321 shares in the company, valued at $9,922,440.78. The disclosure for this sale can be found here . Insiders have sold a total of 2,506,840 shares of company stock worth $892,076,939 in the last 90 days. 14.01% of the stock is currently owned by corporate insiders.
Shares of Facebook stock traded down $3.03 during trading on Monday, reaching $375.66. 238,974 shares of the company’s stock were exchanged, compared to its average volume of 17,387,549. Facebook, Inc. has a 1-year low of $244.13 and a 1-year high of $384.33. The company has a market cap of $1.06 trillion, a P/E ratio of 28.29, a PEG ratio of 1.19 and a beta of 1.29. The firm’s 50-day moving average price is $361.58 and its 200 day moving average price is $327.29.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, July 28th. The social networking company reported $3.61 EPS for the quarter, topping analysts’ consensus estimates of $3.03 by $0.58. Facebook had a return on equity of 30.09% and a net margin of 37.17%. As a group, sell-side analysts anticipate that Facebook, Inc. will post 14.1 EPS for the current fiscal year.
A number of research analysts recently issued reports on FB shares. Canaccord Genuity increased their price objective on Facebook from $380.00 to $420.00 and gave the stock a “buy” rating in a report on Thursday, July 29th. JMP Securities increased their price objective on Facebook from $395.00 to $425.00 and gave the stock an “outperform” rating in a report on Thursday, July 29th. Wedbush reiterated a “neutral” rating and set a $355.00 price objective on shares of Facebook in a report on Thursday, July 29th. Evercore ISI increased their price objective on Facebook from $400.00 to $450.00 and gave the stock an “outperform” rating in a report on Thursday, July 29th. Finally, Oppenheimer increased their price objective on Facebook from $375.00 to $405.00 and gave the stock an “outperform” rating in a report on Thursday, July 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $403.98.
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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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