Sei Investments Co. Lowers Holdings in Facebook, Inc. (FB)

Sei Investments Co. reduced its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 21.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,080,083 shares of the social networking company’s stock after selling 289,235 shares during the period. Facebook makes up 0.7% of Sei Investments Co.’s investment portfolio, making the stock its 18th largest holding. Sei Investments Co.’s holdings in Facebook were worth $209,882,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Cribstone Capital Management LLC boosted its holdings in shares of Facebook by 186.2% in the second quarter. Cribstone Capital Management LLC now owns 624 shares of the social networking company’s stock valued at $121,000 after acquiring an additional 406 shares in the last quarter. IMA Wealth Inc. purchased a new stake in shares of Facebook in the second quarter valued at about $122,000. Trust Department MB Financial Bank N A purchased a new stake in shares of Facebook in the second quarter valued at about $134,000. Northwest Wealth Management LLC purchased a new stake in shares of Facebook in the second quarter valued at about $194,000. Finally, GenWealth Group Inc. purchased a new stake in shares of Facebook in the second quarter valued at about $200,000. 60.25% of the stock is currently owned by institutional investors.

Shares of NASDAQ:FB opened at $144.96 on Friday. The firm has a market cap of $440.19 billion, a price-to-earnings ratio of 23.53, a price-to-earnings-growth ratio of 0.92 and a beta of 0.55. Facebook, Inc. has a 1-year low of $139.03 and a 1-year high of $218.62.

Facebook (NASDAQ:FB) last issued its earnings results on Tuesday, October 30th. The social networking company reported $1.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.30. The company had revenue of $13.73 billion for the quarter, compared to analysts’ expectations of $13.82 billion. Facebook had a net margin of 37.57% and a return on equity of 27.89%. The firm’s revenue was up 32.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.59 earnings per share. Sell-side analysts anticipate that Facebook, Inc. will post 7.35 EPS for the current fiscal year.

In related news, COO Sheryl Sandberg sold 55,000 shares of the stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $180.72, for a total value of $9,939,600.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 210,000 shares of the stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $178.00, for a total transaction of $37,380,000.00. The disclosure for this sale can be found here. Insiders have sold 2,571,582 shares of company stock worth $448,690,663 over the last three months. 17.23% of the stock is owned by corporate insiders.

Several analysts have recently weighed in on the stock. ValuEngine raised shares of Facebook from a “sell” rating to a “hold” rating in a report on Friday, November 2nd. Argus lowered their target price on shares of Facebook from $210.00 to $206.00 and set a “buy” rating on the stock in a report on Thursday, November 1st. Morgan Stanley lowered their target price on shares of Facebook from $175.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, October 31st. Raymond James lowered their target price on shares of Facebook from $210.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, October 31st. Finally, Rosenblatt Securities set a $206.00 target price on shares of Facebook and gave the company a “buy” rating in a report on Wednesday, October 31st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. Facebook currently has an average rating of “Buy” and a consensus price target of $194.54.

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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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