Facebook, Inc. (FB) Shares Bought by Meeder Asset Management Inc.
Meeder Asset Management Inc. increased its stake in Facebook, Inc. (NASDAQ:FB) by 21.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 52,081 shares of the social networking company’s stock after buying an additional 9,236 shares during the quarter. Facebook accounts for approximately 0.7% of Meeder Asset Management Inc.’s portfolio, making the stock its 24th largest holding. Meeder Asset Management Inc.’s holdings in Facebook were worth $7,864,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of FB. Enterprise Financial Services Corp increased its position in Facebook by 1.0% in the first quarter. Enterprise Financial Services Corp now owns 2,124 shares of the social networking company’s stock worth $302,000 after buying an additional 21 shares during the last quarter. Keel Point LLC raised its stake in shares of Facebook by 1.5% in the first quarter. Keel Point LLC now owns 2,289 shares of the social networking company’s stock valued at $325,000 after buying an additional 34 shares during the period. Somerset Group LLC raised its stake in shares of Facebook by 0.9% in the first quarter. Somerset Group LLC now owns 3,900 shares of the social networking company’s stock valued at $554,000 after buying an additional 35 shares during the period. Montag A & Associates Inc. raised its stake in shares of Facebook by 1.1% in the first quarter. Montag A & Associates Inc. now owns 3,381 shares of the social networking company’s stock valued at $480,000 after buying an additional 36 shares during the period. Finally, Bartlett & Co. LLC raised its stake in shares of Facebook by 1.7% in the first quarter. Bartlett & Co. LLC now owns 2,356 shares of the social networking company’s stock valued at $335,000 after buying an additional 40 shares during the period. Institutional investors own 57.26% of the company’s stock.
Facebook, Inc. (NASDAQ FB) traded down 0.5524% during trading on Wednesday, hitting $169.0211. 7,031,436 shares of the company were exchanged. Facebook, Inc. has a 1-year low of $113.55 and a 1-year high of $175.49. The stock has a market capitalization of $490.87 billion, a PE ratio of 37.8293 and a beta of 0.70. The firm’s 50 day moving average price is $169.83 and its 200-day moving average price is $156.72.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.19. The business had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.19 billion. Facebook had a net margin of 38.84% and a return on equity of 21.73%. The business’s quarterly revenue was up 44.8% on a year-over-year basis. During the same quarter last year, the company posted $0.97 earnings per share. Equities analysts predict that Facebook, Inc. will post $5.37 EPS for the current year.
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FB has been the subject of several research reports. Barclays PLC reiterated an “overweight” rating and set a $168.00 price target (up previously from $160.00) on shares of Facebook in a research note on Wednesday, July 12th. Vetr raised Facebook from a “hold” rating to a “buy” rating and set a $159.91 price objective for the company in a report on Tuesday, June 6th. Jefferies Group LLC restated a “buy” rating and issued a $192.00 price objective (up from $175.00) on shares of Facebook in a research note on Thursday, July 27th. Royal Bank Of Canada restated a “buy” rating and issued a $185.00 price objective on shares of Facebook in a research note on Tuesday, July 11th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $195.00 price objective (up from $190.00) on shares of Facebook in a report on Monday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, forty-three have issued a buy rating and three have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $185.38.
In other Facebook news, Director Jan Koum sold 3,600,000 shares of Facebook stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $160.06, for a total transaction of $576,216,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher K. Cox sold 16,000 shares of Facebook stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $149.93, for a total transaction of $2,398,880.00. Following the sale, the insider now owns 184,965 shares of the company’s stock, valued at $27,731,802.45. The disclosure for this sale can be found here. Insiders have sold 12,916,933 shares of company stock valued at $2,121,180,386 over the last quarter. Insiders own 19.08% of the company’s stock.
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.
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