's share price fell on Monday to $34.03, from its $38 IPO price on Thursday, yet analysts say big mutual fund families like Fidelity Investments
] that invested in the social networking company before it became public are likely still winners, Reuters reports
, Fidelity Insight
editor, said most of these funds bought shares for less than $38 per share, through secondary markets, when the company was still private.
Based on Bonnanzio's estimate, $200 million in Class B shares bought by 24 Fidelity large-cap stock funds were then priced between $25 and $35 per share.
T. Rowe Price
] and Morgan Stanley
, also big backers of the social networking company, bought their shares before it went public. Based on a recent filing by Facebook, T. Rowe had more than 18 million shares, or about $630 million, at a share price of $35 as of March 31.
The Pax World Fund
], run by Chris Brown
, was able to purchase 420,000 Facebook shares through Secondmarket at a price "in the low 30's" in April before the IPO.
Brown said he still has confidence in the long-term prospects of Facebook despite the Monday dip.
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