Trade Report: Today: Prentiss Smith & Co. Inc. sells partial stakes of Facebook Inc. (FB)

Today: Prentiss Smith & Co. Inc. sells partial stakes of Facebook Inc. (FB)

Prentiss Smith & Co. Inc. cut its position in shares of Facebook Inc. (NASDAQ:FB) by 29.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,000 shares of the social networking company’s stock after selling 2,038 shares during the period. Prentiss Smith & Co. Inc.’s holdings in Facebook were worth $571,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Stelac Advisory Services LLC acquired a new position in shares of Facebook during the first quarter worth about $106,000. Bartlett & Co. LLC raised its position in shares of Facebook by 8.9% in the second quarter. Bartlett & Co. LLC now owns 1,116 shares of the social networking company’s stock worth $128,000 after buying an additional 91 shares during the last quarter. Kings Point Capital Management raised its position in shares of Facebook by 20.1% in the first quarter. Kings Point Capital Management now owns 1,193 shares of the social networking company’s stock worth $136,000 after buying an additional 200 shares during the last quarter. Gradient Investments LLC raised its position in shares of Facebook by 25.2% in the second quarter. Gradient Investments LLC now owns 1,365 shares of the social networking company’s stock worth $156,000 after buying an additional 275 shares during the last quarter. Finally, Duncker Streett & Co. Inc. raised its position in shares of Facebook by 75.0% in the second quarter. Duncker Streett & Co. Inc. now owns 1,400 shares of the social networking company’s stock worth $160,000 after buying an additional 600 shares during the last quarter. Institutional investors and hedge funds own 56.61% of the company’s stock.

Shares of Facebook Inc. (NASDAQ:FB) traded up 0.05% on Friday, reaching $127.88. 13,345,292 shares of the company’s stock were exchanged. The company’s 50 day moving average is $128.26 and its 200-day moving average is $120.22. The stock has a market cap of $367.23 billion, a price-to-earnings ratio of 61.13 and a beta of 0.77. Facebook Inc. has a one year low of $89.37 and a one year high of $131.98.

Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, July 27th. The social networking company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.15. Facebook had a net margin of 27.07% and a return on equity of 14.38%. The business earned $6.44 billion during the quarter, compared to analyst estimates of $6 billion. During the same period last year, the firm posted $0.50 EPS. The company’s revenue was up 59.2% on a year-over-year basis. On average, analysts anticipate that Facebook Inc. will post $3.94 EPS for the current year.

A number of brokerages have issued reports on FB. Deutsche Bank AG restated a “buy” rating on shares of Facebook in a research report on Sunday, July 10th. Cowen and Company restated a “buy” rating and set a $145.00 target price on shares of Facebook in a research report on Sunday, July 17th. Raymond James Financial Inc. restated an “outperform” rating and set a $140.00 target price on shares of Facebook in a research report on Friday, July 22nd. MKM Partners reaffirmed a “buy” rating on shares of Facebook in a report on Sunday, July 24th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $170.00 price target (up previously from $160.00) on shares of Facebook in a report on Wednesday, July 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, forty-five have assigned a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $149.99.

In related news, CEO Mark Zuckerberg sold 740,626 shares of the firm’s stock in a transaction on Thursday, October 13th. The shares were sold at an average price of $128.27, for a total value of $95,000,097.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Colin Stretch sold 400 shares of the firm’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $125.00, for a total transaction of $50,000.00. Following the completion of the transaction, the vice president now directly owns 88,940 shares of the company’s stock, valued at $11,117,500. The disclosure for this sale can be found here. Company insiders own 19.08% of the company’s stock.

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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