Peregrine Asset Advisers Inc. Buys 8,269 Shares of Facebook, Inc. (NASDAQ:FB)

Peregrine Asset Advisers Inc. grew its stake in shares of Facebook, Inc. (NASDAQ:FB) by 245.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 11,643 shares of the social networking company’s stock after acquiring an additional 8,269 shares during the period. Facebook accounts for about 1.7% of Peregrine Asset Advisers Inc.’s investment portfolio, making the stock its 19th biggest holding. Peregrine Asset Advisers Inc.’s holdings in Facebook were worth $3,429,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of FB. RBA Wealth Management LLC bought a new position in Facebook in the first quarter worth approximately $25,000. ADE LLC bought a new position in Facebook in the fourth quarter worth approximately $27,000. TFO TDC LLC bought a new position in Facebook in the first quarter worth approximately $29,000. Baron Financial Group LLC raised its stake in Facebook by 71.4% in the first quarter. Baron Financial Group LLC now owns 120 shares of the social networking company’s stock worth $35,000 after buying an additional 50 shares in the last quarter. Finally, Albion Financial Group UT bought a new position in Facebook in the fourth quarter worth approximately $39,000. 65.63% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently commented on the stock. Wedbush boosted their price objective on shares of Facebook from $340.00 to $355.00 and gave the stock a “neutral” rating in a research note on Thursday, April 29th. Cowen lifted their price target on shares of Facebook from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Thursday, April 15th. Rosenblatt Securities lifted their price target on shares of Facebook from $325.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 29th. Barclays lifted their price target on shares of Facebook from $350.00 to $410.00 and gave the stock an “overweight” rating in a report on Thursday, April 29th. Finally, Susquehanna lifted their price target on shares of Facebook from $375.00 to $425.00 and gave the stock a “positive” rating in a report on Thursday, April 29th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-three have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $370.93.

In related news, VP Jennifer Newstead sold 250 shares of the stock in a transaction that occurred on Thursday, May 20th. The shares were sold at an average price of $313.36, for a total transaction of $78,340.00. Following the completion of the transaction, the vice president now owns 9,890 shares of the company’s stock, valued at approximately $3,099,130.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Susan J.S. Taylor sold 3,147 shares of the stock in a transaction that occurred on Thursday, April 1st. The stock was sold at an average price of $300.00, for a total transaction of $944,100.00. The disclosure for this sale can be found here. In the last three months, insiders sold 2,280,267 shares of company stock valued at $725,465,985. Corporate insiders own 14.01% of the company’s stock.

Shares of Facebook stock traded up $3.91 during mid-day trading on Thursday, hitting $344.50. The stock had a trading volume of 462,887 shares, compared to its average volume of 19,284,221. The firm’s 50-day simple moving average is $320.47. Facebook, Inc. has a 12-month low of $207.11 and a 12-month high of $343.42. The company has a market cap of $976.82 billion, a price-to-earnings ratio of 29.49, a P/E/G ratio of 1.25 and a beta of 1.30.

Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, April 28th. The social networking company reported $3.30 earnings per share for the quarter, beating the 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 during the quarter, compared to analysts’ expectations of $23.61 billion. During the same quarter in the prior year, the company posted $1.71 EPS. The business’s revenue for the quarter was up 47.7% on a year-over-year basis. As a group, equities analysts expect that Facebook, Inc. will post 13.18 EPS for the current year.

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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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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