Matthew Goff Investment Advisor LLC Purchases New Position in Facebook, Inc. (FB)

Matthew Goff Investment Advisor LLC purchased a new stake in Facebook, Inc. (NASDAQ:FB) during the 3rd quarter, Holdings Channel reports. The firm purchased 78,117 shares of the social networking company’s stock, valued at approximately $402,000.

Other hedge funds have also modified their holdings of the company. FMR LLC increased its stake in shares of Facebook by 1.7% during the 3rd quarter. FMR LLC now owns 124,255,610 shares of the social networking company’s stock worth $20,435,077,000 after purchasing an additional 2,132,804 shares during the last quarter. Northern Trust Corp increased its stake in shares of Facebook by 0.8% during the 2nd quarter. Northern Trust Corp now owns 26,909,979 shares of the social networking company’s stock worth $5,229,147,000 after purchasing an additional 224,531 shares during the last quarter. Morgan Stanley increased its stake in shares of Facebook by 3.2% during the 3rd quarter. Morgan Stanley now owns 25,517,710 shares of the social networking company’s stock worth $4,196,642,000 after purchasing an additional 799,081 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Facebook by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 22,102,171 shares of the social networking company’s stock worth $4,294,895,000 after purchasing an additional 184,595 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in shares of Facebook by 1.6% during the 3rd quarter. Jennison Associates LLC now owns 15,389,527 shares of the social networking company’s stock worth $2,530,962,000 after purchasing an additional 242,474 shares during the last quarter. Hedge funds and other institutional investors own 59.63% of the company’s stock.

Several research firms have recently weighed in on FB. Zacks Investment Research lowered shares of Facebook from a “buy” rating to a “hold” rating in a research note on Tuesday, March 12th. Stifel Nicolaus reaffirmed a “hold” rating and set a $155.00 target price on shares of Facebook in a report on Thursday. CIBC reaffirmed an “outperform” rating and set a $195.00 target price (up previously from $185.00) on shares of Facebook in a report on Thursday, January 31st. Nomura raised shares of Facebook from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $172.00 to $215.00 in a report on Monday, March 11th. Finally, BidaskClub raised shares of Facebook from a “hold” rating to a “buy” rating in a report on Thursday, March 7th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and forty have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $191.58.

Shares of NASDAQ:FB opened at $165.98 on Friday. The company has a market capitalization of $482.17 billion, a PE ratio of 21.93, a PEG ratio of 1.01 and a beta of 0.88. Facebook, Inc. has a 12 month low of $123.02 and a 12 month high of $218.62.

Facebook (NASDAQ:FB) last issued its earnings results on Wednesday, January 30th. The social networking company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.18 by $0.20. The company had revenue of $16.91 billion during the quarter, compared to analysts’ expectations of $16.40 billion. Facebook had a net margin of 39.60% and a return on equity of 27.51%. The business’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.44 EPS. Sell-side analysts predict that Facebook, Inc. will post 7.55 earnings per share for the current fiscal year.

In other news, insider Christopher K. Cox sold 15,900 shares of the business’s stock in a transaction that occurred on Tuesday, January 15th. The shares were sold at an average price of $150.07, for a total value of $2,386,113.00. Following the completion of the transaction, the insider now directly owns 279,684 shares in the company, valued at approximately $41,972,177.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Sheryl Sandberg sold 55,000 shares of the business’s stock in a transaction that occurred on Thursday, December 27th. The shares were sold at an average price of $132.11, for a total transaction of $7,266,050.00. The disclosure for this sale can be found here. Insiders sold a total of 391,461 shares of company stock valued at $60,325,530 over the last 90 days. Corporate insiders own 16.25% of the company’s stock.

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About Facebook

Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces 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 messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use 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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