Facebook, Inc. (FB) Shares Sold by Comerica Bank

Comerica Bank trimmed its position in Facebook, Inc. (NASDAQ:FB) by 3.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 660,792 shares of the social networking company’s stock after selling 24,534 shares during the period. Facebook comprises 1.0% of Comerica Bank’s portfolio, making the stock its 6th biggest holding. Comerica Bank’s holdings in Facebook were worth $138,760,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in FB. BlackRock Inc. raised its stake in shares of Facebook by 2.0% in the first quarter. BlackRock Inc. now owns 149,137,226 shares of the social networking company’s stock worth $23,830,637,000 after buying an additional 2,966,437 shares during the period. Loomis Sayles & Co. L P raised its stake in shares of Facebook by 0.5% in the first quarter. Loomis Sayles & Co. L P now owns 12,937,287 shares of the social networking company’s stock worth $2,067,249,000 after buying an additional 58,561 shares during the period. Summit Trail Advisors LLC raised its stake in shares of Facebook by 4,170.3% in the first quarter. Summit Trail Advisors LLC now owns 9,070,939 shares of the social networking company’s stock worth $9,071,000 after buying an additional 8,858,520 shares during the period. Edgewood Management LLC raised its stake in shares of Facebook by 14.7% in the first quarter. Edgewood Management LLC now owns 8,443,014 shares of the social networking company’s stock worth $1,349,109,000 after buying an additional 1,083,036 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Facebook by 3.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 8,436,515 shares of the social networking company’s stock worth $1,348,071,000 after buying an additional 310,835 shares during the period. 60.30% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:FB opened at $142.09 on Tuesday. Facebook, Inc. has a 1 year low of $139.03 and a 1 year high of $218.62. The company has a market capitalization of $422.30 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 0.92 and a beta of 0.42.

In other Facebook news, CEO Mark Zuckerberg sold 602,000 shares of Facebook stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $176.67, for a total value of $106,355,340.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Colin Stretch sold 750 shares of Facebook stock in a transaction that occurred on Wednesday, October 24th. The stock was sold at an average price of $154.28, for a total value of $115,710.00. Following the completion of the sale, the vice president now directly owns 91,644 shares in the company, valued at approximately $14,138,836.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,761,034 shares of company stock worth $664,462,979. Corporate insiders own 16.25% of the company’s stock.

Several research analysts have recently commented on FB shares. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $250.00 price objective (up previously from $230.00) on shares of Facebook in a research note on Monday, July 2nd. Zacks Investment Research downgraded Facebook from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. BidaskClub downgraded Facebook from a “buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. BTIG Research raised their price objective on Facebook from $175.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, July 5th. Finally, Societe Generale reaffirmed a “sell” rating and issued a $150.00 price objective on shares of Facebook in a research note on Friday, July 6th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Facebook currently has an average rating of “Buy” and a consensus target price of $205.11.

Facebook Company Profile

Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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