Facebook Inc (FB) Stock Rating Reaffirmed by Instinet
Facebook Inc (NASDAQ:FB)‘s stock had its “buy” rating reiterated by Instinet in a research note issued on Saturday.
Several other research firms have also weighed in on FB. BTIG Research raised Facebook from a “neutral” rating to a “buy” rating and increased their target price for the company from $139.94 to $175.00 in a research note on Tuesday, March 21st. Aegis reissued a “buy” rating on shares of Facebook in a research note on Wednesday, March 15th. Goldman Sachs Group Inc reissued a “positive” rating on shares of Facebook in a research note on Tuesday, March 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $175.00 target price on shares of Facebook in a research note on Monday, March 13th. Finally, William Blair reissued an “outperform” rating on shares of Facebook in a research note on Saturday, March 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-six have issued a buy rating and four have issued a strong buy rating to the company. Facebook presently has an average rating of “Buy” and an average price target of $157.91.
Shares of Facebook (NASDAQ:FB) traded down 0.08% on Friday, hitting $143.68. 12,177,782 shares of the stock traded hands. The company’s 50 day moving average is $140.15 and its 200 day moving average is $129.41. The stock has a market cap of $415.23 billion, a price-to-earnings ratio of 41.13 and a beta of 0.68. Facebook has a one year low of $106.31 and a one year high of $144.25. Facebook also was the target of some unusual options trading on Tuesday. Stock investors purchased 78,065 put options on the stock. This is an increase of approximately 109% compared to the average volume of 37,299 put options.
Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, February 1st. The social networking company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.10. Facebook had a return on equity of 19.05% and a net margin of 34.33%. The business had revenue of $8.81 billion for the quarter, compared to analyst estimates of $8.47 billion. During the same quarter in the prior year, the firm posted $0.79 earnings per share. The firm’s revenue for the quarter was up 50.8% compared to the same quarter last year. On average, equities analysts forecast that Facebook will post $5.44 EPS for the current year.
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In other Facebook news, COO Sheryl Sandberg sold 163,500 shares of the firm’s stock in a transaction dated Tuesday, April 18th. The shares were sold at an average price of $141.27, for a total value of $23,097,645.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher K. Cox sold 16,000 shares of the firm’s stock in a transaction dated Tuesday, February 7th. The stock was sold at an average price of $132.49, for a total transaction of $2,119,840.00. Following the completion of the sale, the insider now owns 153,938 shares of the company’s stock, valued at $20,395,245.62. The disclosure for this sale can be found here. Insiders sold 6,012,117 shares of company stock worth $838,152,309 over the last three months. 19.08% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Oliver Luxxe Assets LLC raised its position in Facebook by 15.8% in the third quarter. Oliver Luxxe Assets LLC now owns 8,157 shares of the social networking company’s stock valued at $1,046,000 after buying an additional 1,111 shares during the last quarter. Central Bank & Trust Co. raised its position in Facebook by 3,683.7% in the third quarter. Central Bank & Trust Co. now owns 10,897 shares of the social networking company’s stock valued at $1,398,000 after buying an additional 10,609 shares during the last quarter. Sadoff Investment Management LLC raised its position in Facebook by 1.6% in the third quarter. Sadoff Investment Management LLC now owns 1,857 shares of the social networking company’s stock valued at $238,000 after buying an additional 29 shares during the last quarter. Nadler Financial Group Inc. raised its position in Facebook by 2.4% in the third quarter. Nadler Financial Group Inc. now owns 9,339 shares of the social networking company’s stock valued at $1,198,000 after buying an additional 223 shares during the last quarter. Finally, Advisory Services Network LLC raised its position in Facebook by 11.9% in the third quarter. Advisory Services Network LLC now owns 40,634 shares of the social networking company’s stock valued at $5,212,000 after buying an additional 4,337 shares during the last quarter. Hedge funds and other institutional investors own 57.00% of the company’s stock.
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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