Investors Buy Shares of Facebook (FB) on Weakness Following Insider Selling

Traders bought shares of Facebook Inc (NASDAQ:FB) on weakness during trading hours on Wednesday following insider selling activity. $580.92 million flowed into the stock on the tick-up and $433.62 million flowed out of the stock on the tick-down, for a money net flow of $147.30 million into the stock. Of all equities tracked, Facebook had the 2nd highest net in-flow for the day. Facebook traded down ($1.62) for the day and closed at $177.89Specifically, VP Colin Stretch sold 750 shares of the company’s stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $164.21, for a total value of $123,157.50. Following the completion of the sale, the vice president now owns 92,591 shares in the company, valued at approximately $15,204,368.11. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 249,527 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $170.32, for a total transaction of $42,499,438.64. The disclosure for this sale can be found here. Insiders have sold a total of 4,802,989 shares of company stock valued at $858,525,203 in the last quarter. Corporate insiders own 17.23% of the company’s stock.

A number of brokerages recently weighed in on FB. Citigroup reaffirmed a “buy” rating and issued a $200.00 target price on shares of Facebook in a research note on Wednesday, September 27th. Cowen reaffirmed an “average” rating and issued a $200.00 target price (up from $195.00) on shares of Facebook in a research note on Wednesday, September 27th. Vetr raised shares of Facebook from a “buy” rating to a “strong-buy” rating and set a $202.09 target price for the company in a research note on Tuesday. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $190.00 target price on shares of Facebook in a research note on Tuesday, September 26th. Finally, J P Morgan Chase & Co reaffirmed a “buy” rating and issued a $225.00 target price on shares of Facebook in a research note on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, forty-two have assigned a buy rating and three have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $200.81.

The company has a market capitalization of $525,428.25, a PE ratio of 34.84, a price-to-earnings-growth ratio of 1.15 and a beta of 0.69.

Facebook (NASDAQ:FB) last issued its earnings results on Wednesday, November 1st. The social networking company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.31. Facebook had a net margin of 41.69% and a return on equity of 23.64%. The firm had revenue of $10.33 billion for the quarter, compared to analyst estimates of $9.84 billion. During the same quarter last year, the business posted $1.09 earnings per share. The company’s quarterly revenue was up 47.3% on a year-over-year basis. equities analysts anticipate that Facebook Inc will post 5.86 earnings per share for the current year.

Institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC lifted its holdings in shares of Facebook by 283.6% during the second quarter. Janus Henderson Group PLC now owns 11,888,149 shares of the social networking company’s stock worth $1,794,857,000 after purchasing an additional 8,788,743 shares during the period. Truepoint Inc. raised its stake in Facebook by 16,822.1% during the third quarter. Truepoint Inc. now owns 6,137,138 shares of the social networking company’s stock worth $6,137,000 after buying an additional 6,100,871 shares during the last quarter. Vanguard Group Inc. raised its stake in Facebook by 3.3% during the second quarter. Vanguard Group Inc. now owns 162,530,760 shares of the social networking company’s stock worth $24,538,895,000 after buying an additional 5,151,190 shares during the last quarter. BlackRock Inc. raised its stake in Facebook by 3.0% during 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. Finally, Harding Loevner LP raised its stake in Facebook by 229.7% during the third quarter. Harding Loevner LP now owns 4,258,885 shares of the social networking company’s stock worth $215,130,000 after buying an additional 2,966,978 shares during the last quarter. Hedge funds and other institutional investors own 57.71% of the company’s stock.

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About Facebook

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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