Facebook Inc (FB) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Facebook Inc (NASDAQ:FB) in a research report report published on Thursday, May 4th. They currently have a $165.00 price target on the social networking company’s stock.

A number of other research analysts have also recently commented on the company. Evercore ISI restated a buy rating and set a $155.00 price objective on shares of Facebook in a research note on Thursday, February 2nd. Goldman Sachs Group Inc restated a positive rating on shares of Facebook in a research note on Tuesday, March 14th. Cantor Fitzgerald restated an overweight rating and set a $175.00 price objective on shares of Facebook in a research note on Monday, March 13th. Loop Capital reiterated a buy rating and issued a $165.00 price target on shares of Facebook in a research note on Saturday, January 14th. Finally, Susquehanna Bancshares Inc reiterated a positive rating and issued a $160.00 price target on shares of Facebook in a research note on Tuesday, January 31st. One analyst has rated the stock with a sell rating, five have given a hold rating, forty-two have assigned a buy rating and three have assigned a strong buy rating to the stock. The company currently has an average rating of Buy and an average price target of $163.98.

Shares of Facebook (NASDAQ:FB) traded up 0.714% during midday trading on Thursday, hitting $148.715. The stock had a trading volume of 582,405 shares. The firm has a 50 day moving average price of $145.82 and a 200 day moving average price of $132.24. Facebook has a one year low of $108.23 and a one year high of $153.60. The stock has a market cap of $431.00 billion, a PE ratio of 37.812 and a beta of 0.68. Facebook also was the recipient of some unusual options trading on Wednesday. Traders purchased 129,160 put options on the company. This is an increase of approximately 153% compared to the average daily volume of 51,102 put options.

Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, May 3rd. The social networking company reported $1.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.16. Facebook had a return on equity of 19.05% and a net margin of 34.33%. The firm had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.83 billion. During the same quarter in the previous year, the business earned $0.77 earnings per share. The firm’s quarterly revenue was up 49.2% compared to the same quarter last year. On average, equities analysts forecast that Facebook will post $4.83 earnings per share for the current fiscal year.

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In related news, Director Jan Koum sold 3,200,000 shares of the business’s stock in a transaction on Friday, April 28th. The shares were sold at an average price of $150.27, for a total value of $480,864,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 192,874 shares of the business’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $136.10, for a total transaction of $26,250,151.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,836,427 shares of company stock worth $1,417,668,940. Insiders own 19.08% of the company’s stock.

Large investors have recently modified their holdings of the company. HCR Wealth Advisors acquired a new stake in shares of Facebook during the fourth quarter valued at approximately $3,091,000. Nwam LLC boosted its stake in shares of Facebook by 31.6% in the third quarter. Nwam LLC now owns 18,678 shares of the social networking company’s stock valued at $2,396,000 after buying an additional 4,481 shares during the period. GSA Capital Partners LLP boosted its stake in shares of Facebook by 3,206.5% in the fourth quarter. GSA Capital Partners LLP now owns 67,287 shares of the social networking company’s stock valued at $7,741,000 after buying an additional 65,252 shares during the period. Aviva PLC boosted its stake in shares of Facebook by 7.6% in the fourth quarter. Aviva PLC now owns 1,638,062 shares of the social networking company’s stock valued at $188,606,000 after buying an additional 115,558 shares during the period. Finally, Amtrust Financial Services Inc. acquired a new stake in shares of Facebook during the fourth quarter valued at approximately $1,420,000. 57.00% of the stock is currently owned by hedge funds and other institutional investors.

About Facebook

Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.

5 Day Chart for NASDAQ:FB

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