Melqart Asset Management UK Ltd Grows Stake in Facebook, Inc. (NASDAQ:FB)

Melqart Asset Management UK Ltd grew its holdings in Facebook, Inc. (NASDAQ:FB) by 49.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 49,560 shares of the social networking company’s stock after buying an additional 16,500 shares during the quarter. Melqart Asset Management UK Ltd’s holdings in Facebook were worth $14,597,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FB. Norges Bank purchased a new stake in Facebook in the 4th quarter worth approximately $8,021,574,000. Morgan Stanley raised its position in shares of Facebook by 44.5% in the 4th quarter. Morgan Stanley now owns 30,382,192 shares of the social networking company’s stock worth $8,299,199,000 after acquiring an additional 9,362,408 shares in the last quarter. Factorial Partners LLC bought a new position in shares of Facebook in the 1st quarter worth approximately $12,300,000. Price T Rowe Associates Inc. MD raised its position in shares of Facebook by 2.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 104,548,050 shares of the social networking company’s stock worth $30,792,537,000 after acquiring an additional 2,802,398 shares in the last quarter. Finally, Sanders Capital LLC raised its position in shares of Facebook by 34.8% in the 1st quarter. Sanders Capital LLC now owns 9,213,078 shares of the social networking company’s stock worth $2,948,108,000 after acquiring an additional 2,380,105 shares in the last quarter. Institutional investors and hedge funds own 65.41% of the company’s stock.

In other news, VP Jennifer Newstead sold 250 shares of Facebook stock in a transaction dated Tuesday, June 29th. The stock was sold at an average price of $356.49, for a total value of $89,122.50. Following the sale, the vice president now directly owns 8,390 shares of the company’s stock, valued at $2,990,951.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Susan J.S. Taylor sold 2,167 shares of Facebook stock in a transaction dated Wednesday, May 19th. The stock was sold at an average price of $303.83, for a total value of $658,399.61. Following the completion of the sale, the chief accounting officer now directly owns 386 shares in the company, valued at $117,278.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,460,920 shares of company stock worth $814,534,268. Insiders own 14.01% of the company’s stock.

NASDAQ FB traded up $3.00 on Thursday, hitting $349.23. 513,333 shares of the company traded hands, compared to its average volume of 13,889,378. The firm has a market cap of $990.23 billion, a P/E ratio of 29.93, a price-to-earnings-growth ratio of 1.29 and a beta of 1.29. The business has a 50 day simple moving average of $335.86. Facebook, Inc. has a 52-week low of $226.90 and a 52-week high of $358.79.

Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, April 28th. The social networking company reported $3.30 EPS for the quarter, beating the Zacks’ consensus estimate of $2.36 by $0.94. The business had revenue of $26.20 billion for the quarter, compared to analysts’ expectations of $23.61 billion. Facebook had a return on equity of 27.54% and a net margin of 35.74%. The business’s quarterly revenue was up 47.7% on a year-over-year basis. During the same period last year, the firm earned $1.71 earnings per share. Research analysts forecast that Facebook, Inc. will post 13.19 EPS for the current fiscal year.

Several research analysts have recently issued reports on FB shares. JPMorgan Chase & Co. reissued a “buy” rating and issued a $390.00 target price on shares of Facebook in a research report on Tuesday, June 29th. KGI Securities initiated coverage on Facebook in a research report on Wednesday, June 2nd. They issued an “outperform” rating and a $420.00 target price for the company. Piper Sandler raised their price objective on Facebook from $285.00 to $335.00 and gave the company a “neutral” rating in a research report on Thursday, April 29th. Stifel Nicolaus raised their price objective on Facebook from $340.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, April 27th. Finally, UBS Group reaffirmed a “buy” rating and set a $380.00 price objective on shares of Facebook in a research report on Thursday, April 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-three have given a buy rating and one has issued a strong buy rating to the stock. Facebook has a consensus rating of “Buy” and a consensus target price of $376.58.

About Facebook

Facebook, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and private messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application that is used by people and businesses to communicate in a private way.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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