The Chesapeake Asset Management LLC Purchases Shares of 2,742 Facebook, Inc. (FB)

The Chesapeake Asset Management LLC Purchases Shares of 2,742 Facebook, Inc. (FB)

Chesapeake Asset Management LLC purchased a new position in shares of Facebook, Inc. (NASDAQ:FB) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,742 shares of the social networking company’s stock, valued at approximately $352,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. increased its position in Facebook by 11.9% in the third quarter. Farmers & Merchants Investments Inc. now owns 901 shares of the social networking company’s stock worth $116,000 after buying an additional 96 shares in the last quarter. Jacobus Wealth Management Inc. acquired a new position in Facebook during the third quarter worth $121,000. Orinda Asset Management LLC acquired a new position in Facebook during the third quarter worth $126,000. Capital Advisors Ltd. LLC increased its position in Facebook by 182.2% in the third quarter. Capital Advisors Ltd. LLC now owns 1,092 shares of the social networking company’s stock worth $140,000 after buying an additional 705 shares in the last quarter. Finally, Bartlett & Co. LLC increased its position in Facebook by 8.9% in the second quarter. Bartlett & Co. LLC now owns 1,116 shares of the social networking company’s stock worth $128,000 after buying an additional 91 shares in the last quarter. Institutional investors and hedge funds own 56.16% of the company’s stock.

Shares of Facebook, Inc. (NASDAQ:FB) traded up 0.04% during midday trading on Wednesday, reaching $127.92. 13,145,852 shares of the company’s stock were exchanged. Facebook, Inc. has a 12 month low of $92.62 and a 12 month high of $133.50. The firm has a 50 day moving average price of $120.09 and a 200 day moving average price of $123.60. The company has a market cap of $368.69 billion, a P/E ratio of 49.31 and a beta of 0.66.

Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, November 2nd. The social networking company reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.12. The firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.90 billion. Facebook had a net margin of 30.32% and a return on equity of 16.51%. The business’s revenue for the quarter was up 55.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.57 EPS. Equities research analysts forecast that Facebook, Inc. will post $4.10 earnings per share for the current fiscal year.

FB has been the topic of several recent analyst reports. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $144.00 target price on shares of Facebook in a report on Tuesday, January 10th. MKM Partners reiterated a “buy” rating and issued a $150.00 target price on shares of Facebook in a report on Thursday, December 1st. Canaccord Genuity reiterated a “buy” rating and issued a $150.00 target price on shares of Facebook in a report on Wednesday, December 21st. Jefferies Group reiterated a “buy” rating and issued a $170.00 target price on shares of Facebook in a report on Thursday, January 12th. Finally, Macquarie reiterated an “outperform” rating and issued a $155.00 target price on shares of Facebook in a report on Wednesday, December 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating, forty-three have issued a buy rating and three have issued a strong buy rating to the stock. Facebook has an average rating of “Buy” and a consensus target price of $150.27.

In related news, CEO Mark Zuckerberg sold 809,977 shares of the business’s stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $117.29, for a total value of $95,002,202.33. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Colin Stretch sold 750 shares of the business’s stock in a transaction dated Tuesday, October 25th. The stock was sold at an average price of $132.69, for a total transaction of $99,517.50. Following the completion of the transaction, the vice president now directly owns 82,290 shares in the company, valued at $10,919,060.10. The disclosure for this sale can be found here. 19.08% of the stock is currently owned by corporate insiders.

Facebook Company Profile

Facebook, Inc builds products that enable people to connect and share through mobile devices and personal computers. The Company enables people to share their opinions, ideas, photos and videos, and other activities. Its products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook is a mobile application and Website that enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.

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