Facebook (NASDAQ:FB) had its target price raised by JPMorgan Chase & Co. from $195.00 to $205.00 in a report issued on Tuesday, September 18th, MarketBeat reports. The brokerage currently has an overweight rating on the social networking company’s stock.
Several other research analysts have also weighed in on FB. SunTrust Banks lowered their target price on shares of Facebook to $200.00 and set a buy rating for the company in a research note on Thursday, July 26th. Wells Fargo & Co reaffirmed an outperform rating and set a $250.00 target price (up previously from $230.00) on shares of Facebook in a research note on Monday, July 2nd. Raymond James lowered shares of Facebook from a strong-buy rating to an outperform rating and set a $210.00 target price for the company. in a research note on Thursday, July 26th. Cleveland Research reaffirmed a buy rating on shares of Facebook in a research note on Thursday, September 13th. Finally, BidaskClub lowered shares of Facebook from a hold rating to a sell rating in a research note on Tuesday, September 18th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. Facebook currently has a consensus rating of Buy and an average target price of $205.00.
NASDAQ:FB traded up $0.39 during trading hours on Tuesday, reaching $153.74. 25,208,374 shares of the company were exchanged, compared to its average volume of 27,886,178. The stock has a market capitalization of $477.76 billion, a PE ratio of 24.96, a P/E/G ratio of 1.05 and a beta of 0.42. Facebook has a twelve month low of $149.02 and a twelve month high of $218.62.
Facebook (NASDAQ:FB) last issued its earnings results on Wednesday, July 25th. The social networking company reported $1.74 EPS for the quarter, missing the Zacks’ consensus estimate of $1.75 by ($0.01). The business had revenue of $13.23 billion during the quarter, compared to analyst estimates of $13.35 billion. Facebook had a net margin of 39.31% and a return on equity of 28.16%. Facebook’s quarterly revenue was up 41.9% on a year-over-year basis. During the same quarter last year, the company earned $1.32 earnings per share. Equities research analysts predict that Facebook will post 7.08 earnings per share for the current year.
In related news, CEO Mark Zuckerberg sold 720,000 shares of the business’s stock in a transaction dated Wednesday, July 18th. The shares were sold at an average price of $208.56, for a total value of $150,163,200.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Colin Stretch sold 750 shares of the business’s stock in a transaction dated Wednesday, July 18th. The stock was sold at an average price of $210.00, for a total transaction of $157,500.00. Following the completion of the sale, the vice president now owns 88,615 shares in the company, valued at $18,609,150. The disclosure for this sale can be found here. Insiders have sold a total of 6,052,146 shares of company stock worth $1,136,174,749 over the last 90 days. Insiders own 16.25% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Summit Trail Advisors LLC increased its stake in shares of Facebook by 4,170.3% during the 1st quarter. Summit Trail Advisors LLC now owns 9,070,939 shares of the social networking company’s stock valued at $9,071,000 after acquiring an additional 8,858,520 shares during the last quarter. Fundsmith Equity Fund L.P. acquired a new position in shares of Facebook during the 2nd quarter valued at about $1,072,219,000. Cornerstone Wealth Management LLC increased its stake in shares of Facebook by 21,254.2% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 3,612,283 shares of the social networking company’s stock valued at $18,303,000 after acquiring an additional 3,595,367 shares during the last quarter. BlackRock Inc. increased its stake in shares of Facebook by 2.0% during the 1st quarter. BlackRock Inc. now owns 149,137,226 shares of the social networking company’s stock valued at $23,830,637,000 after acquiring an additional 2,966,437 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Facebook by 1,559.1% during the 1st quarter. SG Americas Securities LLC now owns 2,990,310 shares of the social networking company’s stock valued at $477,822,000 after acquiring an additional 2,810,076 shares during the last quarter. 60.43% of the stock is owned by hedge funds and other institutional investors.
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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