Facebook, Inc. (NASDAQ:FB)‘s stock had its “outperform” rating restated by stock analysts at Macquarie in a research note issued to investors on Thursday. They presently have a $190.00 price target on the social networking company’s stock, up from their prior price target of $175.00. Macquarie’s price objective points to a potential upside of 11.48% from the stock’s previous close.
Other analysts have also issued reports about the company. UBS AG reaffirmed a “buy” rating and set a $165.00 target price on shares of Facebook in a report on Wednesday, April 19th. Jefferies Group LLC reaffirmed a “buy” rating and set a $175.00 target price on shares of Facebook in a report on Wednesday, April 19th. Aegis raised their target price on Facebook from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, April 17th. Instinet reaffirmed a “buy” rating and set a $165.00 target price on shares of Facebook in a report on Saturday, April 22nd. Finally, Loop Capital reaffirmed a “buy” rating and set a $175.00 target price on shares of Facebook in a report on Monday, April 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, forty-two have issued a buy rating and four have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $175.95.
Facebook (NASDAQ FB) traded up 2.92% during trading on Thursday, hitting $170.44. The stock had a trading volume of 68,910,708 shares. The stock’s 50-day moving average is $155.22 and its 200-day moving average is $144.00. Facebook has a 52-week low of $113.55 and a 52-week high of $175.49. The stock has a market capitalization of $493.97 billion, a PE ratio of 43.34 and a beta of 0.67. Facebook also was the recipient of unusually large options trading on Wednesday. Investors purchased 213,349 call options on the stock. This represents an increase of 121% compared to the typical volume of 96,355 call options.
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, July 26th. The social networking company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.19. Facebook had a return on equity of 20.27% and a net margin of 36.45%. The firm had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same period last year, the business posted $0.97 earnings per share. The company’s revenue for the quarter was up 44.8% compared to the same quarter last year. On average, analysts predict that Facebook will post $4.89 earnings per share for the current fiscal year.
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In other news, Director Susan Desmond-Hellmann sold 209 shares of the company’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $144.67, for a total transaction of $30,236.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Colin Stretch sold 750 shares of the company’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $165.29, for a total value of $123,967.50. Following the transaction, the vice president now directly owns 83,906 shares of the company’s stock, valued at $13,868,822.74. The disclosure for this sale can be found here. Insiders have sold a total of 13,360,716 shares of company stock valued at $2,083,016,681 over the last three months. 19.08% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. Selkirk Management LLC purchased a new stake in Facebook during the fourth quarter valued at $3,106,000. Envestnet Asset Management Inc. increased its stake in Facebook by 1.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 240,103 shares of the social networking company’s stock valued at $27,619,000 after buying an additional 2,350 shares during the last quarter. Tyers Asset Management LLC purchased a new stake in Facebook during the fourth quarter valued at $34,083,000. Asturias Capital LLC purchased a new stake in Facebook during the fourth quarter valued at $10,726,000. Finally, Arrowpoint Asset Management LLC increased its stake in Facebook by 5.5% in the fourth quarter. Arrowpoint Asset Management LLC now owns 15,400 shares of the social networking company’s stock valued at $1,772,000 after buying an additional 808 shares during the last quarter. 57.68% of the stock is owned by institutional investors and hedge funds.
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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