Facebook Inc (NASDAQ:FB)‘s stock had its “outperform” rating reaffirmed by research analysts at Macquarie in a report released on Thursday, May 4th. They presently have a $160.00 price target on the social networking company’s stock. Macquarie’s price target points to a potential upside of 8.36% from the stock’s previous close.
A number of other research firms have also commented on FB. Stifel Nicolaus reissued a “buy” rating and issued a $155.00 target price on shares of Facebook in a report on Monday, January 30th. Robert W. Baird reissued an “outperform” rating on shares of Facebook in a report on Tuesday, March 7th. Wells Fargo & Co reissued an “overweight” rating on shares of Facebook in a report on Wednesday, April 19th. Credit Suisse Group AG restated an “outperform” rating and issued a $165.00 price target (down from $170.00) on shares of Facebook in a research note on Wednesday, January 11th. Finally, Royal Bank of Canada raised their price target on Facebook to $175.00 and gave the stock a “buy” rating in a research note on Thursday, February 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, forty-two have issued a buy rating and three have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $163.98.
Shares of Facebook (NASDAQ:FB) traded up 0.27% during midday trading on Thursday, reaching $148.06. The company’s stock had a trading volume of 16,162,208 shares. The firm has a 50-day moving average of $145.82 and a 200-day moving average 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 $429.10 billion, a PE ratio of 37.65 and a beta of 0.68. Facebook also saw some unusual options trading on Wednesday. Stock traders bought 129,160 put options on the company. This represents an increase of approximately 153% compared to the typical volume of 51,102 put options.
Facebook (NASDAQ:FB) last released its earnings results on Wednesday, May 3rd. The social networking company reported $1.04 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.16. The company had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.83 billion. Facebook had a return on equity of 19.05% and a net margin of 34.33%. The firm’s revenue for the quarter was up 49.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 EPS. On average, analysts forecast that Facebook will post $4.83 EPS for the current year.
In related news, insider Christopher K. Cox sold 16,000 shares of Facebook stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $141.70, for a total value of $2,267,200.00. Following the completion of the sale, the insider now owns 181,125 shares in the company, valued at approximately $25,665,412.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Sheryl Sandberg sold 272,500 shares of Facebook stock in a transaction that occurred on Thursday, March 30th. The shares were sold at an average price of $141.35, for a total transaction of $38,517,875.00. The disclosure for this sale can be found here. Insiders have sold a total of 9,836,427 shares of company stock valued at $1,417,668,940 in the last 90 days. Insiders own 19.08% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Arcadia Investment Management Corp MI boosted its position in shares of Facebook by 20.0% in the first quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock valued at $102,000 after buying an additional 120 shares in the last quarter. Advisors Preferred LLC acquired a new position in shares of Facebook during the first quarter valued at approximately $102,000. Hemenway Trust Co LLC acquired a new position in shares of Facebook during the fourth quarter valued at approximately $109,000. GFI Investment Counsel Ltd. acquired a new position in shares of Facebook during the fourth quarter valued at approximately $115,000. Finally, Jacobus Wealth Management Inc. acquired a new position in shares of Facebook during the third quarter valued at approximately $121,000. Hedge funds and other institutional investors own 57.00% of the company’s stock.
Facebook Company Profile
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.
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