Cypress Capital Management LLC decreased its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 11.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 37,418 shares of the social networking company’s stock after selling 4,740 shares during the period. Facebook makes up approximately 1.5% of Cypress Capital Management LLC’s portfolio, making the stock its 21st largest position. Cypress Capital Management LLC’s holdings in Facebook were worth $11,021,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of FB. OLD Mission Capital LLC acquired a new position in Facebook in the 3rd quarter valued at $251,000. FWL Investment Management LLC bought a new stake in Facebook in the 4th quarter valued at $2,201,000. Sage Mountain Advisors LLC bought a new stake in Facebook in the 4th quarter valued at $615,000. DB Wealth Management Group LLC bought a new stake in Facebook in the 4th quarter valued at $27,000. Finally, HGI Capital Management LLC boosted its holdings in Facebook by 2.1% in the 4th quarter. HGI Capital Management LLC now owns 8,970 shares of the social networking company’s stock valued at $2,450,000 after purchasing an additional 181 shares during the period. Institutional investors and hedge funds own 65.63% of the company’s stock.
A number of brokerages have weighed in on FB. Loop Capital increased their price target on shares of Facebook from $330.00 to $370.00 and gave the company a “buy” rating in a report on Tuesday, February 16th. UBS Group reaffirmed a “buy” rating and set a $380.00 price objective on shares of Facebook in a report on Thursday, April 29th. Morgan Stanley raised their price objective on shares of Facebook from $345.00 to $375.00 and gave the stock an “overweight” rating in a report on Thursday, April 29th. Piper Sandler raised their price objective on shares of Facebook from $285.00 to $335.00 and gave the stock a “neutral” rating in a report on Thursday, April 29th. Finally, Truist lifted their price target on shares of Facebook from $350.00 to $400.00 in a report on Thursday, April 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $370.93.
Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, April 28th. The social networking company reported $3.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.36 by $0.94. Facebook had a net margin of 35.74% and a return on equity of 27.54%. The business had revenue of $26.20 billion for the quarter, compared to the consensus estimate of $23.61 billion. During the same period in the prior year, the company posted $1.71 earnings per share. Facebook’s revenue was up 47.7% compared to the same quarter last year. On average, research analysts forecast that Facebook, Inc. will post 13.18 EPS for the current year.
In other news, CAO Susan J.S. Taylor sold 3,147 shares of the stock in a transaction dated Thursday, April 1st. The shares were sold at an average price of $300.00, for a total value of $944,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 77,300 shares of the stock in a transaction dated Friday, June 4th. The stock was sold at an average price of $330.13, for a total transaction of $25,519,049.00. The disclosure for this sale can be found here. Insiders have sold 2,031,403 shares of company stock valued at $632,050,379 in the last ninety days. 14.01% of the stock is currently owned by company insiders.
Facebook Company Profile
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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