MED Trims Facebook (FB) Target Price to $192.00

Facebook (NASDAQ:FB) had its price objective decreased by MED from $205.00 to $192.00 in a research note issued to investors on Monday, The Fly reports. MED currently has a buy rating on the social networking company’s stock.

FB has been the topic of several other reports. DZ Bank restated a buy rating on shares of Facebook in a research report on Thursday, June 21st. BidaskClub upgraded shares of Facebook from a hold rating to a buy rating in a research report on Saturday, June 23rd. Zacks Investment Research upgraded shares of Facebook from a hold rating to a buy rating and set a $226.00 price target on the stock in a research report on Tuesday, June 26th. Macquarie restated a buy rating and issued a $200.00 price target on shares of Facebook in a research report on Wednesday, June 27th. Finally, Barclays restated a buy rating and issued a $190.00 price target on shares of Facebook in a research report on Wednesday, June 27th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $205.89.

NASDAQ:FB opened at $159.42 on Monday. Facebook has a 1 year low of $149.02 and a 1 year high of $218.62. The firm has a market capitalization of $477.76 billion, a P/E ratio of 25.88, a PEG ratio of 1.05 and a beta of 0.42.

Facebook (NASDAQ:FB) last posted its earnings results on Wednesday, July 25th. The social networking company reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.01). Facebook had a net margin of 39.31% and a return on equity of 28.16%. The firm had revenue of $13.23 billion during the quarter, compared to analyst estimates of $13.35 billion. During the same quarter in the previous year, the business posted $1.32 earnings per share. The business’s quarterly revenue was up 41.9% compared to the same quarter last year. Equities analysts anticipate that Facebook will post 7.08 earnings per share for the current fiscal year.

In related news, insider Christopher K. Cox sold 10,600 shares of Facebook stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $210.66, for a total transaction of $2,232,996.00. Following the completion of the transaction, the insider now directly owns 115,882 shares of the company’s stock, valued at approximately $24,411,702.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 480,000 shares of Facebook stock in a transaction dated Friday, July 20th. The shares were sold at an average price of $209.27, for a total transaction of $100,449,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 5,041,696 shares of company stock valued at $925,357,331 over the last three months. 16.25% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. Cribstone Capital Management LLC raised its stake in shares of Facebook by 186.2% in the second quarter. Cribstone Capital Management LLC now owns 624 shares of the social networking company’s stock worth $121,000 after acquiring an additional 406 shares during the last quarter. IMA Wealth Inc. bought a new position in shares of Facebook in the second quarter worth about $122,000. Trust Department MB Financial Bank N A bought a new position in shares of Facebook in the second quarter worth about $134,000. Aviance Capital Management LLC bought a new position in shares of Facebook in the second quarter worth about $151,000. Finally, Marino Stram & Associates LLC raised its stake in shares of Facebook by 115.3% in the second quarter. Marino Stram & Associates LLC now owns 945 shares of the social networking company’s stock worth $184,000 after acquiring an additional 506 shares during the last quarter. 60.43% of the stock is owned by hedge funds and other institutional investors.

Facebook Company Profile

Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.

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