Threshold Group LLC bought a new position in Facebook Inc. (NASDAQ:FB) during the second quarter, according to its most recent disclosure with the SEC. The fund bought 101,096 shares of the social networking company’s stock, valued at approximately $11,553,000. Facebook accounts for about 11.5% of Threshold Group LLC’s investment portfolio, making the stock its 2nd largest position.
Other institutional investors also recently made changes to their positions in the company. Prospera Financial Services Inc boosted its position in Facebook by 12.5% in the second quarter. Prospera Financial Services Inc now owns 11,934 shares of the social networking company’s stock worth $1,364,000 after buying an additional 1,323 shares during the last quarter. Conning Inc. boosted its position in Facebook by 1.9% in the second quarter. Conning Inc. now owns 55,794 shares of the social networking company’s stock worth $6,376,000 after buying an additional 1,040 shares during the last quarter. Terra Nova Asset Management LLC acquired a new position in Facebook during the second quarter worth about $865,000. Tairen Capital Ltd acquired a new position in Facebook during the second quarter worth about $229,000. Finally, Genesee Valley Trust Co. boosted its position in Facebook by 60.6% in the second quarter. Genesee Valley Trust Co. now owns 17,304 shares of the social networking company’s stock worth $1,978,000 after buying an additional 6,532 shares during the last quarter. Hedge funds and other institutional investors own 56.61% of the company’s stock.
Shares of Facebook Inc. (NASDAQ:FB) traded up 0.21% on Thursday, hitting $128.74. The company had a trading volume of 11,682,729 shares. The stock has a market cap of $369.70 billion, a PE ratio of 61.54 and a beta of 0.77. The company has a 50-day moving average of $127.42 and a 200 day moving average of $119.59. Facebook Inc. has a 12 month low of $89.37 and a 12 month high of $131.98.
Facebook (NASDAQ:FB) last released its quarterly earnings data on Wednesday, July 27th. The social networking company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.15. The firm had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6 billion. Facebook had a net margin of 27.07% and a return on equity of 14.38%. Facebook’s quarterly revenue was up 59.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.50 earnings per share. Analysts anticipate that Facebook Inc. will post $3.94 EPS for the current fiscal year.
A number of research firms recently issued reports on FB. Cowen and Company restated a “buy” rating and set a $145.00 price objective on shares of Facebook in a report on Sunday, July 17th. MKM Partners restated a “buy” rating on shares of Facebook in a report on Sunday, July 24th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Facebook in a research report on Sunday, July 10th. Vetr raised Facebook from a “hold” rating to a “buy” rating and set a $127.69 target price for the company in a research report on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. set a $170.00 target price on Facebook and gave the company a “buy” rating in a research report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, six have given a hold rating, forty-four have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $149.99.
In other news, Director Jan Koum sold 1,721,436 shares of the stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $118.13, for a total value of $203,353,234.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jas Athwal sold 4,923 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $124.07, for a total transaction of $610,796.61. Following the completion of the transaction, the chief accounting officer now owns 125,394 shares of the company’s stock, valued at $15,557,633.58. The disclosure for this sale can be found here. Corporate insiders own 19.08% of the company’s stock.
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.