Good Life Advisors LLC Raises Position in Facebook, Inc. (NASDAQ:FB)

Good Life Advisors LLC increased its stake in shares of Facebook, Inc. (NASDAQ:FB) by 19.4% during the first quarter, Holdings Channel reports. The firm owned 12,042 shares of the social networking company’s stock after buying an additional 1,955 shares during the period. Facebook comprises approximately 0.8% of Good Life Advisors LLC’s portfolio, making the stock its 27th largest position. Good Life Advisors LLC’s holdings in Facebook were worth $1,704,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FB. Viking Global Investors LP increased its position in shares of Facebook by 1.2% in the fourth quarter. Viking Global Investors LP now owns 18,978,163 shares of the social networking company’s stock worth $2,183,438,000 after buying an additional 228,753 shares during the last quarter. Norges Bank acquired a new position in shares of Facebook during the fourth quarter worth approximately $2,046,500,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Facebook by 1.1% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,721,199 shares of the social networking company’s stock worth $954,746,000 after buying an additional 71,206 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of Facebook by 17.8% in the first quarter. Canada Pension Plan Investment Board now owns 4,100,250 shares of the social networking company’s stock worth $582,441,000 after buying an additional 620,686 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of Facebook by 1.5% in the first quarter. Rhumbline Advisers now owns 3,741,605 shares of the social networking company’s stock worth $531,495,000 after buying an additional 54,953 shares during the last quarter. 57.60% of the stock is owned by institutional investors and hedge funds.

Shares of Facebook, Inc. (NASDAQ FB) traded down 0.33% during mid-day trading on Wednesday, reaching $170.66. 2,942,091 shares of the company traded hands. Facebook, Inc. has a 52 week low of $113.55 and a 52 week high of $175.49. The company has a market capitalization of $495.63 billion, a P/E ratio of 38.20 and a beta of 0.70. The stock’s 50-day moving average is $159.02 and its 200-day moving average is $145.93.

Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, July 26th. The social networking company reported $1.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.19. Facebook had a net margin of 38.84% and a return on equity of 21.73%. The firm had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter last year, the business earned $0.97 earnings per share. The business’s revenue for the quarter was up 44.8% compared to the same quarter last year. On average, equities analysts predict that Facebook, Inc. will post $5.33 EPS for the current fiscal year.

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A number of research analysts recently commented on the stock. Barclays PLC set a $200.00 price target on shares of Facebook and gave the company a “buy” rating in a report on Friday, July 28th. FBN Securities reaffirmed an “outperform” rating and issued a $210.00 price target (up previously from $175.00) on shares of Facebook in a report on Sunday, July 30th. Morgan Stanley set a $190.00 price target on shares of Facebook and gave the company a “buy” rating in a report on Monday, July 31st. Atlantic Securities set a $200.00 price target on shares of Facebook and gave the company a “buy” rating in a report on Monday, July 31st. Finally, Pivotal Research downgraded shares of Facebook from a “hold” rating to a “sell” rating and lowered their price target for the company from $172.45 to $140.00 in a report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, forty-two have assigned a buy rating and four have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $180.91.

In other Facebook news, Director Jan Koum sold 594,246 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $149.73, for a total transaction of $88,976,453.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan Desmond-Hellmann sold 209 shares of the firm’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $144.67, for a total transaction of $30,236.03. The disclosure for this sale can be found here. Insiders sold 10,166,363 shares of company stock valued at $1,604,306,533 in the last quarter. Company insiders own 19.08% of the company’s stock.

Facebook Company Profile

Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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