Facebook’s (FB) Market Perform Rating Reaffirmed at BMO Capital Markets

BMO Capital Markets reissued their market perform rating on shares of Facebook Inc (NASDAQ:FB) in a research note released on Thursday, May 4th. The brokerage currently has a $150.00 price target on the social networking company’s stock.

Other research analysts have also issued reports about the stock. Vetr raised shares of Facebook from a hold rating to a buy rating and set a $140.41 target price on the stock in a research note on Thursday, February 16th. Credit Suisse Group AG increased their target price on shares of Facebook from $165.00 to $170.00 and gave the stock an outperform rating in a research note on Thursday, February 2nd. Aegis reissued a buy rating on shares of Facebook in a research note on Sunday, April 2nd. Piper Jaffray Companies set a $150.00 target price on shares of Facebook and gave the stock a buy rating in a research note on Thursday, January 5th. Finally, Goldman Sachs Group Inc reaffirmed a buy rating and issued a $162.00 price objective on shares of Facebook in a research note on Thursday, February 2nd. One 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 company. The stock has a consensus rating of Buy and a consensus target price of $163.98.

Facebook (NASDAQ:FB) traded up 0.27% on Thursday, hitting $148.06. The company’s stock had a trading volume of 16,187,892 shares. The company has a 50 day moving average price of $145.98 and a 200-day moving average price of $132.36. Facebook has a 1-year low of $108.23 and a 1-year high of $153.60. The company has a market capitalization of $429.10 billion, a P/E ratio of 37.65 and a beta of 0.68. Facebook also saw some unusual options trading activity on Wednesday. Traders bought 129,160 put options on the company. This is an increase of 153% compared to the typical daily volume of 51,102 put options.

Facebook (NASDAQ:FB) last posted its quarterly earnings data 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. Facebook had a net margin of 34.33% and a return on equity of 19.05%. The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.83 billion. During the same period in the prior year, the firm posted $0.77 EPS. The company’s quarterly revenue was up 49.2% on a year-over-year basis. On average, equities analysts forecast that Facebook will post $4.83 earnings per share for the current fiscal year.

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In other news, CEO Mark Zuckerberg sold 386,116 shares of the company’s stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $135.97, for a total transaction of $52,500,192.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Colin Stretch sold 750 shares of the company’s stock in a transaction dated Tuesday, March 21st. The shares were sold at an average price of $141.39, for a total transaction of $106,042.50. Following the sale, the vice president now directly owns 84,330 shares of the company’s stock, valued at approximately $11,923,418.70. The disclosure for this sale can be found here. In the last three months, insiders sold 9,836,636 shares of company stock valued at $1,417,699,176. 19.08% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in FB. BlackRock Inc. raised its stake in Facebook by 2,611.9% in the first quarter. BlackRock Inc. now owns 134,844,586 shares of the social networking company’s stock valued at $19,154,672,000 after buying an additional 129,872,250 shares in the last quarter. Norges Bank purchased a new stake in Facebook during the fourth quarter valued at about $2,046,500,000. Vanguard Group Inc. raised its stake in Facebook by 4.1% in the first quarter. Vanguard Group Inc. now owns 157,379,570 shares of the social networking company’s stock valued at $22,355,767,000 after buying an additional 6,160,804 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in Facebook by 997.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 4,018,514 shares of the social networking company’s stock valued at $462,727,000 after buying an additional 3,652,302 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in Facebook during the fourth quarter valued at about $328,688,000. 57.00% of the stock is owned by hedge funds and other institutional investors.

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.

12 Month Chart for NASDAQ:FB

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