Facebook, Inc. (FB) Insider Christopher K. Cox Sells 16,000 Shares of Stock
Facebook, Inc. (NASDAQ:FB) insider Christopher K. Cox sold 16,000 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $167.02, for a total value of $2,672,320.00. Following the completion of the sale, the insider now owns 219,332 shares of the company’s stock, valued at $36,632,830.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of Facebook, Inc. (NASDAQ FB) traded down 0.79% during trading on Friday, reaching $166.41. The company’s stock had a trading volume of 10,780,294 shares. The company has a market capitalization of $483.29 billion, a price-to-earnings ratio of 37.24 and a beta of 0.70. Facebook, Inc. has a one year low of $113.55 and a one year high of $175.49. The firm’s 50-day moving average price is $165.53 and its 200-day moving average price is $149.85.
Facebook (NASDAQ:FB) last issued its earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.19. Facebook had a net margin of 38.84% and a return on equity of 21.73%. The firm had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter last year, the company posted $0.97 earnings per share. The firm’s revenue was up 44.8% compared to the same quarter last year. On average, equities analysts anticipate that Facebook, Inc. will post $5.33 earnings per share for the current year.
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Several hedge funds and other institutional investors have recently modified their holdings of FB. Vanguard Group Inc. boosted its position in shares of 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. boosted its position 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 valued at $20,967,696,000 after buying an additional 4,032,727 shares during the period. State Street Corp boosted its position 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 valued at $13,262,607,000 after buying an additional 1,536,158 shares during the period. Capital World Investors boosted its position 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 valued at $8,578,347,000 after buying an additional 833,810 shares during the period. Finally, Northern Trust Corp boosted its position 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 valued at $3,994,161,000 after buying an additional 114,694 shares during the period. 57.40% of the stock is owned by hedge funds and other institutional investors.
FB has been the subject of several analyst reports. Needham & Company LLC lifted their price objective on Facebook from $150.00 to $165.00 and gave the company a “buy” rating in a report on Friday, April 28th. Wedbush set a $185.00 price objective on Facebook and gave the company a “buy” rating in a report on Thursday, May 4th. Morgan Stanley reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Facebook in a report on Thursday, May 4th. Nomura set a $165.00 price objective on Facebook and gave the company a “buy” rating in a report on Wednesday, May 3rd. Finally, Oppenheimer Holdings, Inc. lifted their price objective on Facebook from $170.00 to $195.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, forty-three have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Facebook presently has a consensus rating of “Buy” and a consensus price target of $183.74.
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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