Trade Report: The Harding Loevner LP Cuts Position in Facebook Inc. (FB)

The Harding Loevner LP Cuts Position in Facebook Inc. (FB)

Harding Loevner LP decreased its position in Facebook Inc. (NASDAQ:FB) by 0.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,396,318 shares of the social networking company’s stock after selling 5,179 shares during the period. Facebook accounts for 1.3% of Harding Loevner LP’s holdings, making the stock its 29th largest position. Harding Loevner LP’s holdings in Facebook were worth $179,106,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Advisory Services Network LLC boosted its position in shares of Facebook by 11.9% in the third quarter. Advisory Services Network LLC now owns 40,634 shares of the social networking company’s stock worth $5,212,000 after buying an additional 4,337 shares during the period. Nadler Financial Group Inc. raised its stake in shares of Facebook by 2.4% in the third quarter. Nadler Financial Group Inc. now owns 9,339 shares of the social networking company’s stock worth $1,198,000 after buying an additional 223 shares during the period. Sadoff Investment Management LLC raised its stake in shares of Facebook by 1.6% in the third quarter. Sadoff Investment Management LLC now owns 1,857 shares of the social networking company’s stock worth $238,000 after buying an additional 29 shares during the period. Central Bank & Trust Co. raised its stake in shares of Facebook by 3,683.7% in the third quarter. Central Bank & Trust Co. now owns 10,897 shares of the social networking company’s stock worth $1,398,000 after buying an additional 10,609 shares during the period. Finally, Oliver Luxxe Assets LLC raised its stake in shares of Facebook by 15.8% in the third quarter. Oliver Luxxe Assets LLC now owns 8,157 shares of the social networking company’s stock worth $1,046,000 after buying an additional 1,111 shares during the period. 56.67% of the stock is owned by institutional investors and hedge funds.

Facebook Inc. (NASDAQ:FB) traded down 0.38% during trading on Friday, reaching $120.38. 8,658,605 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $125.27 and its 200-day moving average price is $122.55. The firm has a market cap of $346.96 billion, a price-to-earnings ratio of 46.41 and a beta of 0.76. Facebook Inc. has a 12 month low of $89.37 and a 12 month high of $133.50.

Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, November 2nd. The social networking company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.12. The firm had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.90 billion. Facebook had a return on equity of 16.51% and a net margin of 30.32%. The company’s revenue for the quarter was up 55.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.57 EPS. On average, equities research analysts anticipate that Facebook Inc. will post $4.09 EPS for the current year.

A number of brokerages have weighed in on FB. Bank of America Corp. reiterated a “buy” rating and issued a $153.07 price target (up previously from $123.94) on shares of Facebook in a report on Monday, August 1st. Robert W. Baird reiterated an “outperform” rating and issued a $155.00 price target on shares of Facebook in a report on Tuesday, October 18th. Morgan Stanley reiterated an “overweight” rating and issued a $160.00 price target on shares of Facebook in a report on Wednesday, November 2nd. Oppenheimer Holdings Inc. set a $144.00 price target on shares of Facebook and gave the company a “buy” rating in a report on Thursday, November 3rd. Finally, MKM Partners decreased their price target on shares of Facebook from $165.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, November 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-five have given a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $150.70.

In related news, COO Sheryl Sandberg sold 327,000 shares of the stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $129.52, for a total value of $42,353,040.00. Following the completion of the sale, the chief operating officer now directly owns 4,590,248 shares of the company’s stock, valued at approximately $594,528,920.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jan Koum sold 356,547 shares of the stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $119.95, for a total value of $42,767,812.65. 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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