Facebook (FB) Cut to Sell at ValuEngine

ValuEngine downgraded shares of Facebook (NASDAQ:FB) from a hold rating to a sell rating in a report issued on Friday.

FB has been the topic of a number of other reports. Wedbush restated an outperform rating and set a $275.00 price objective on shares of Facebook in a research report on Friday, July 20th. Macquarie set a $220.00 price objective on Facebook and gave the company a buy rating in a research report on Monday, July 23rd. Piper Jaffray Companies upped their price objective on Facebook to $250.00 and gave the company an in-line rating in a research report on Friday, July 20th. Oppenheimer restated a buy rating and set a $200.00 price objective on shares of Facebook in a research report on Thursday, July 26th. Finally, Zacks Investment Research upgraded Facebook from a sell rating to a hold rating in a research report on Wednesday, October 17th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Facebook has an average rating of Buy and an average target price of $194.54.

Shares of Facebook stock opened at $139.53 on Friday. Facebook has a 12 month low of $137.77 and a 12 month high of $218.62. The company has a market cap of $405.33 billion, a P/E ratio of 22.65, a PEG ratio of 0.85 and a beta of 0.55.

Facebook (NASDAQ:FB) last announced its quarterly earnings results on Tuesday, October 30th. The social networking company reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.30. Facebook had a return on equity of 27.89% and a net margin of 37.57%. The company had revenue of $13.73 billion during the quarter, compared to analyst estimates of $13.82 billion. During the same period in the prior year, the company earned $1.59 earnings per share. The firm’s revenue was up 32.9% on a year-over-year basis. On average, equities analysts anticipate that Facebook will post 7.35 EPS for the current year.

In other news, CEO Mark Zuckerberg sold 120,000 shares of the firm’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $173.05, for a total value of $20,766,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $172.20, for a total value of $129,150.00. Following the completion of the sale, the vice president now directly owns 98,394 shares of the company’s stock, valued at approximately $16,943,446.80. The disclosure for this sale can be found here. Insiders have sold a total of 1,853,537 shares of company stock worth $318,057,881 in the last ninety days. Insiders own 16.25% of the company’s stock.

A number of hedge funds have recently modified their holdings of FB. Burney Co. raised its stake in shares of Facebook by 78.6% during the 1st quarter. Burney Co. now owns 88,591 shares of the social networking company’s stock valued at $14,156,000 after buying an additional 38,989 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co raised its stake in shares of Facebook by 11.0% during the 1st quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 10,050 shares of the social networking company’s stock valued at $1,606,000 after buying an additional 1,000 shares during the last quarter. Dillon & Associates Inc. increased its stake in shares of Facebook by 13.2% in the 1st quarter. Dillon & Associates Inc. now owns 30,060 shares of the social networking company’s stock valued at $4,810,000 after purchasing an additional 3,498 shares in the last quarter. State of New Jersey Common Pension Fund D increased its stake in shares of Facebook by 1.5% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 2,740,000 shares of the social networking company’s stock valued at $437,825,000 after purchasing an additional 40,000 shares in the last quarter. Finally, Fieldpoint Private Securities LLC increased its stake in shares of Facebook by 99.0% in the 1st quarter. Fieldpoint Private Securities LLC now owns 11,099 shares of the social networking company’s stock valued at $1,774,000 after purchasing an additional 5,522 shares in the last quarter. Institutional investors own 58.98% of the company’s stock.

Facebook Company Profile

Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Facebook (NASDAQ:FB)

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