T. Rowe Price has revealed that several of its funds have Facebook holdings, together totaling $190 million as of the end of March.
The investment management company confirmed the $190 million value to The New York Times, without clarifying the exact purchase price for the shares nor the timing of the transaction.
However, a prior report by Reuters said the fund company valued Facebook at $25 per share, about $7 below the most recent closing price for the stock on the private marketplace.
An auction of 100,000 shares of Facebook stock closed this Wednesday at a price of $32 per share, in a transaction that the market venue SharesPost had called “highly oversubscribed.”
The Wednesday auction leaves the company’s value at $80 billion, while a shares price of $25, as upheld by T. Rowe Price, puts Facebook at $62.5 billion. This suggests that the mutual fund company may have picked up the stock some time during the first quarter of the year.
Readers, when do you think T. Rowe Price bought into Facebook?