QS Investors LLC Reduces Stake in Facebook Inc (FB)

QS Investors LLC lessened its position in Facebook Inc (NASDAQ:FB) by 4.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 258,742 shares of the social networking company’s stock after selling 11,332 shares during the period. QS Investors LLC’s holdings in Facebook were worth $39,065,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in FB. Vanguard Group Inc. boosted its holdings in shares of Facebook by 3.3% during the second quarter. Vanguard Group Inc. now owns 162,530,760 shares of the social networking company’s stock worth $24,538,895,000 after purchasing an additional 5,151,190 shares during the period. BlackRock Inc. raised its position in Facebook by 3.0% during the second quarter. BlackRock Inc. now owns 138,877,313 shares of the social networking company’s stock valued at $20,967,696,000 after acquiring an additional 4,032,727 shares in the last quarter. State Street Corp raised its position in Facebook by 1.7% during the first quarter. State Street Corp now owns 93,365,713 shares of the social networking company’s stock valued at $13,262,607,000 after acquiring an additional 1,536,158 shares in the last quarter. Northern Trust Corp raised its position in Facebook by 0.4% during the second quarter. Northern Trust Corp now owns 26,454,900 shares of the social networking company’s stock valued at $3,994,161,000 after acquiring an additional 114,694 shares in the last quarter. Finally, Jennison Associates LLC raised its position in Facebook by 6.4% during the second quarter. Jennison Associates LLC now owns 20,336,932 shares of the social networking company’s stock valued at $3,070,470,000 after acquiring an additional 1,219,412 shares in the last quarter. 57.72% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts recently issued reports on the stock. Pivotal Research reaffirmed a “sell” rating and set a $140.00 target price on shares of Facebook in a research report on Wednesday, September 6th. Zacks Investment Research upgraded shares of Facebook from a “hold” rating to a “buy” rating and set a $198.00 price target on the stock in a research note on Tuesday. Canaccord Genuity restated a “buy” rating and issued a $230.00 target price on shares of Facebook in a research note on Tuesday. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $215.00 price target (up from $185.00) on shares of Facebook in a report on Wednesday, September 27th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $195.00 price objective on shares of Facebook in a report on Friday, October 13th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, forty-two have assigned a buy rating and three have given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $201.37.

In other Facebook news, insider Michael Todd Schroepfer sold 38,058 shares of the stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $171.51, for a total value of $6,527,327.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Colin Stretch sold 750 shares of the stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $172.98, for a total value of $129,735.00. The disclosure for this sale can be found here. Insiders sold a total of 4,568,712 shares of company stock worth $818,756,804 over the last 90 days. Corporate insiders own 17.23% of the company’s stock.

Shares of Facebook Inc (FB) traded up $4.96 on Tuesday, hitting $181.42. The company’s stock had a trading volume of 18,150,000 shares, compared to its average volume of 16,130,000. The company has a market capitalization of $527,170.00, a price-to-earnings ratio of 33.72, a PEG ratio of 1.12 and a beta of 0.69. Facebook Inc has a 52-week low of $114.77 and a 52-week high of $184.25.

Facebook (NASDAQ:FB) last issued its earnings results on Wednesday, November 1st. The social networking company reported $1.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.31. Facebook had a return on equity of 23.64% and a net margin of 41.69%. The firm had revenue of $10.33 billion for the quarter, compared to analyst estimates of $9.84 billion. During the same period in the previous year, the company posted $1.09 earnings per share. The business’s revenue was up 47.3% on a year-over-year basis. equities analysts forecast that Facebook Inc will post 5.86 earnings per share for the current fiscal year.

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Facebook Company Profile

Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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