Facebook, Inc. (FB) Upgraded to “Buy” at Vetr Inc.
Vetr upgraded shares of Facebook, Inc. (NASDAQ:FB) from a hold rating to a buy rating in a research report released on Monday morning. Vetr currently has $174.15 price objective on the social networking company’s stock.
Several other analysts also recently issued reports on FB. UBS AG set a $168.00 target price on shares of Facebook and gave the company a buy rating in a research note on Thursday, May 4th. Cowen and Company reissued an outperform rating and set a $195.00 target price on shares of Facebook in a research note on Thursday, August 10th. Pivotal Research downgraded shares of Facebook from a hold rating to a sell rating in a research note on Tuesday, August 8th. Robert W. Baird reissued an outperform rating and set a $185.00 target price (up from $163.00) on shares of Facebook in a research note on Thursday, July 27th. Finally, Zacks Investment Research downgraded shares of Facebook from a buy rating to a hold rating in a research note on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, forty-three have assigned a buy rating and three have assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $183.74.
Shares of Facebook (NASDAQ FB) opened at 167.78 on Monday. The firm has a market cap of $487.27 billion, a PE ratio of 37.55 and a beta of 0.70. The stock’s 50 day moving average price is $164.34 and its 200 day moving average price is $149.30. Facebook has a 12-month low of $113.55 and a 12-month high of $175.49.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.19. The company had revenue of $9.32 billion for the quarter, compared to analysts’ expectations of $9.19 billion. Facebook had a return on equity of 21.73% and a net margin of 38.84%. The firm’s revenue was up 44.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.97 earnings per share. On average, equities research analysts predict that Facebook will post $5.33 EPS for the current fiscal year.
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In other Facebook news, CEO Mark Zuckerberg sold 279,533 shares of the stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $152.04, for a total value of $42,500,197.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jan Koum sold 2,953,492 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $170.17, for a total transaction of $502,595,733.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,685,648 shares of company stock worth $2,052,348,775. Insiders own 19.08% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Facebook by 3.3% in the second quarter. Vanguard Group Inc. now owns 162,530,760 shares of the social networking company’s stock valued at $24,538,895,000 after buying an additional 5,151,190 shares during the period. BlackRock Inc. raised its stake in shares of Facebook by 3.0% in the second quarter. BlackRock Inc. now owns 138,877,313 shares of the social networking company’s stock worth $20,967,696,000 after buying an additional 4,032,727 shares during the last quarter. State Street Corp raised its stake in shares of Facebook by 1.7% in the first quarter. State Street Corp now owns 93,365,713 shares of the social networking company’s stock worth $13,262,607,000 after buying an additional 1,536,158 shares during the last quarter. Capital World Investors raised its stake in shares of Facebook by 1.5% in the second quarter. Capital World Investors now owns 56,817,768 shares of the social networking company’s stock worth $8,578,347,000 after buying an additional 833,810 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Facebook by 0.4% in the second quarter. Northern Trust Corp now owns 26,454,900 shares of the social networking company’s stock worth $3,994,161,000 after buying an additional 114,694 shares during the last quarter. Institutional investors own 57.40% 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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