The Facebook Inc. (FB) is CG Asset Management LLC’s 3rd Largest Position

The Facebook Inc. (FB) is CG Asset Management LLC’s 3rd Largest Position

CG Asset Management LLC decreased its stake in shares of Facebook Inc. (NASDAQ:FB) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,675 shares of the social networking company’s stock after selling 255 shares during the period. Facebook accounts for 3.9% of CG Asset Management LLC’s holdings, making the stock its 3rd largest position. CG Asset Management LLC’s holdings in Facebook were worth $9,677,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Private Wealth Partners LLC increased its stake in shares of Facebook by 3.1% in the second quarter. Private Wealth Partners LLC now owns 71,065 shares of the social networking company’s stock valued at $8,121,000 after buying an additional 2,145 shares during the period. Park Avenue Securities LLC acquired a new stake in shares of Facebook during the second quarter valued at about $205,000. Crossvault Capital Management LLC increased its stake in shares of Facebook by 14.6% in the second quarter. Crossvault Capital Management LLC now owns 2,183 shares of the social networking company’s stock valued at $249,000 after buying an additional 278 shares during the period. Ariel Capital Advisors LLC increased its stake in shares of Facebook by 76.6% in the second quarter. Ariel Capital Advisors LLC now owns 15,269 shares of the social networking company’s stock valued at $1,745,000 after buying an additional 6,622 shares during the period. Finally, First National Trust Co. increased its stake in shares of Facebook by 7.1% in the second quarter. First National Trust Co. now owns 16,886 shares of the social networking company’s stock valued at $1,930,000 after buying an additional 1,124 shares during the period. 56.61% of the stock is currently owned by institutional investors.

Facebook Inc. (NASDAQ:FB) traded down 0.95% during trading on Thursday, reaching $127.82. 17,103,089 shares of the company’s stock were exchanged. The company has a market capitalization of $367.06 billion, a PE ratio of 61.10 and a beta of 0.77. The company’s 50-day moving average is $128.03 and its 200-day moving average is $120.07. Facebook Inc. has a 1-year low of $89.37 and a 1-year high of $131.98.

Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, July 27th. The social networking company reported $0.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.15. The company had revenue of $6.44 billion for the quarter, compared to the consensus estimate of $6 billion. Facebook had a net margin of 27.07% and a return on equity of 14.38%. The firm’s quarterly revenue was up 59.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 EPS. Equities research analysts expect that Facebook Inc. will post $3.94 earnings per share for the current fiscal year.

A number of analysts have issued reports on the company. Deutsche Bank AG reaffirmed a “buy” rating and issued a $170.00 price objective on shares of Facebook in a research note on Wednesday. Citigroup Inc. reaffirmed a “buy” rating and issued a $158.00 price objective on shares of Facebook in a research note on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Facebook in a research note on Wednesday. Morgan Stanley reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of Facebook in a research note on Wednesday. Finally, Macquarie reaffirmed an “outperform” rating and issued a $155.00 price objective on shares of Facebook in a research note on Monday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, forty-five have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $149.99.

In other news, Director Jan Koum sold 602,114 shares of the company’s stock in a transaction dated Tuesday, October 11th. The stock was sold at an average price of $129.36, for a total transaction of $77,889,467.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Colin Stretch sold 400 shares of the company’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $125.00, for a total value of $50,000.00. Following the sale, the vice president now owns 88,940 shares in the company, valued at $11,117,500. The disclosure for this sale can be found here. 19.08% of the stock is owned by corporate insiders.

Facebook Company Profile

Facebook, Inc builds products that enable people to connect and share through mobile devices and personal computers. The Company enables people to share their opinions, ideas, photos and videos, and other activities. Its products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook is a mobile application and Website that enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.

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