Stifel Nicolaus reissued their buy rating on shares of Facebook, Inc. (NASDAQ:FB) in a research note released on Thursday, July 27th. The brokerage currently has a $200.00 price target on the social networking company’s stock, up from their prior price target of $170.00.
Other research analysts have also issued reports about the stock. UBS AG reiterated a buy rating and set a $165.00 price target on shares of Facebook in a research note on Wednesday, April 19th. Barclays PLC reissued a neutral rating on shares of Facebook in a report on Friday, April 14th. Robert W. Baird reissued an outperform rating and set a $163.00 price objective on shares of Facebook in a report on Thursday, May 4th. Vetr raised shares of Facebook from a hold rating to a buy rating and set a $154.73 price target on the stock in a report on Wednesday, May 17th. Finally, BidaskClub raised shares of Facebook from a buy rating to a strong-buy rating in a report on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, forty-two have given a buy rating and three have given a strong buy rating to the company’s stock. Facebook currently has an average rating of Buy and an average target price of $180.91.
Shares of Facebook (NASDAQ FB) opened at 171.18 on Thursday. The stock has a market capitalization of $497.14 billion, a price-to-earnings ratio of 38.31 and a beta of 0.70. Facebook has a 12-month low of $113.55 and a 12-month high of $175.49. The firm has a 50-day moving average of $160.69 and a 200 day moving average of $147.01.
Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, July 26th. The social networking company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.19. The company had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.19 billion. Facebook had a net margin of 38.84% and a return on equity of 21.73%. Facebook’s quarterly revenue was up 44.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.97 earnings per share. Equities analysts forecast that Facebook will post $5.33 earnings per share for the current fiscal year.
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In other news, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $150.10, for a total value of $112,575.00. Following the transaction, the vice president now directly owns 86,761 shares in the company, valued at approximately $13,022,826.10. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Peter Thiel sold 60,316 shares of the firm’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $172.25, for a total transaction of $10,389,431.00. Following the completion of the transaction, the director now owns 6,311 shares in the company, valued at $1,087,069.75. The disclosure for this sale can be found here. Insiders have sold a total of 10,183,113 shares of company stock worth $1,607,154,643 over the last quarter. 19.08% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Selkirk Management LLC purchased a new stake in Facebook during the fourth quarter worth $3,106,000. Envestnet Asset Management Inc. boosted 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 worth $27,619,000 after buying an additional 2,350 shares during the period. Tyers Asset Management LLC purchased a new stake in Facebook during the fourth quarter worth $34,083,000. Asturias Capital LLC purchased a new stake in Facebook during the fourth quarter worth $10,726,000. Finally, Arrowpoint Asset Management LLC boosted 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 worth $1,772,000 after buying an additional 808 shares during the period. 57.60% of the stock is currently 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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