Cigna Investments Inc. New grew its stake in Facebook, Inc. (NASDAQ:FB) by 4.7% during the first quarter, HoldingsChannel.com reports. The firm owned 80,039 shares of the social networking company’s stock after purchasing an additional 3,568 shares during the period. Facebook makes up approximately 1.7% of Cigna Investments Inc. New’s holdings, making the stock its 4th biggest holding. Cigna Investments Inc. New’s holdings in Facebook were worth $13,350,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of FB. TFO TDC LLC acquired a new stake in shares of Facebook in the 4th quarter valued at about $25,000. Permanens Capital L.P. acquired a new stake in shares of Facebook in the 4th quarter valued at about $28,000. Lighthouse Financial Advisors Inc. acquired a new stake in shares of Facebook in the 4th quarter valued at about $41,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in Facebook during the fourth quarter worth about $41,000. Finally, Sowa Financial Group Inc. acquired a new stake in Facebook during the fourth quarter worth about $42,000. Institutional investors and hedge funds own 65.13% of the company’s stock.
In other Facebook news, CRO David B. Fischer sold 22,000 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $205.29, for a total value of $4,516,380.00. Following the completion of the sale, the executive now owns 57,503 shares in the company, valued at approximately $11,804,790.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Susan J.S. Taylor sold 1,449 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $201.80, for a total transaction of $292,408.20. Following the completion of the sale, the chief accounting officer now owns 2,113 shares of the company’s stock, valued at approximately $426,403.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 68,199 shares of company stock valued at $13,967,456. 14.14% of the stock is owned by insiders.
Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, April 29th. The social networking company reported $1.71 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.78 by ($0.07). The firm had revenue of $17.74 billion during the quarter, compared to analysts’ expectations of $17.25 billion. Facebook had a net margin of 28.57% and a return on equity of 21.54%. The firm’s revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.89 EPS. On average, equities research analysts predict that Facebook, Inc. will post 7.25 EPS for the current fiscal year.
Several equities research analysts recently weighed in on FB shares. Sanford C. Bernstein reiterated a “buy” rating and set a $250.00 price objective on shares of Facebook in a research note on Thursday, January 30th. Wedbush reiterated an “outperform” rating and set a $250.00 price objective on shares of Facebook in a research note on Thursday, April 16th. Tigress Financial reiterated a “buy” rating on shares of Facebook in a research note on Monday, March 30th. Bank of America increased their price objective on shares of Facebook from $200.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, JMP Securities increased their price objective on shares of Facebook from $215.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, forty-one have given a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $240.98.
Facebook Company Profile
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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