Facebook (FB) Given New $170.00 Price Target at Needham & Company LLC

Facebook (NASDAQ:FB) had its price target decreased by Needham & Company LLC from $215.00 to $170.00 in a research note released on Friday, December 21st, Marketbeat.com reports. Needham & Company LLC currently has a buy rating on the social networking company’s stock.

Several other equities analysts also recently weighed in on FB. Wells Fargo & Co reiterated a buy rating and issued a $220.00 target price on shares of Facebook in a research note on Thursday, August 23rd. Stifel Nicolaus reaffirmed a buy rating and set a $202.00 price objective on shares of Facebook in a research note on Thursday, August 23rd. Robert W. Baird reaffirmed a buy rating and set a $195.00 price objective on shares of Facebook in a research note on Monday, September 3rd. Royal Bank of Canada reaffirmed a buy rating and set a $195.00 price objective on shares of Facebook in a research note on Monday, September 3rd. Finally, Moffett Nathanson reaffirmed a neutral rating and set a $175.00 price objective on shares of Facebook in a research note on Tuesday, September 4th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $186.92.

FB stock traded down $1.41 during mid-day trading on Friday, hitting $147.54. The company had a trading volume of 18,011,292 shares, compared to its average volume of 21,820,799. The firm has a market cap of $422.36 billion, a price-to-earnings ratio of 23.95, a P/E/G ratio of 0.92 and a beta of 0.58. Facebook has a 12 month low of $123.02 and a 12 month high of $218.62.

Facebook (NASDAQ:FB) last posted its earnings results on Tuesday, October 30th. The social networking company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.30. The firm had revenue of $13.73 billion during the quarter, compared to the consensus estimate of $13.82 billion. Facebook had a net margin of 37.57% and a return on equity of 27.89%. The company’s revenue was up 32.9% on a year-over-year basis. During the same quarter last year, the company earned $1.59 earnings per share. As a group, analysts expect that Facebook will post 7.37 earnings per share for the current year.

In other Facebook news, insider Susan J.S. Taylor sold 2,112 shares of the business’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $137.50, for a total transaction of $290,400.00. Following the transaction, the insider now directly owns 6,927 shares of the company’s stock, valued at approximately $952,462.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Colin Stretch sold 750 shares of the business’s stock in a transaction on Wednesday, October 31st. The shares were sold at an average price of $155.00, for a total transaction of $116,250.00. Following the transaction, the vice president now directly owns 90,894 shares in the company, valued at $14,088,570. The disclosure for this sale can be found here. Insiders have sold a total of 425,800 shares of company stock valued at $59,976,109 over the last quarter. 16.25% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of FB. Legacy Financial Advisors Inc. lifted its stake in shares of Facebook by 12.4% in the 4th quarter. Legacy Financial Advisors Inc. now owns 1,692 shares of the social networking company’s stock worth $222,000 after purchasing an additional 187 shares during the period. PM CAPITAL Ltd bought a new position in shares of Facebook in the 4th quarter worth approximately $8,666,000. Meridian Financial Partners LLC bought a new position in shares of Facebook in the 4th quarter worth approximately $399,000. Granite Investment Advisors LLC bought a new position in shares of Facebook in the 4th quarter worth approximately $1,462,000. Finally, American Trust Investment Advisors LLC lifted its stake in shares of Facebook by 115.1% in the 4th quarter. American Trust Investment Advisors LLC now owns 15,866 shares of the social networking company’s stock worth $2,080,000 after purchasing an additional 8,490 shares during the period. Institutional investors and hedge funds own 58.16% of the company’s stock.

About Facebook

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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