Facebook, Inc. (NASDAQ:FB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “Facebook’s mobile and live video efforts continue to pay off big time. Instagram has also emerged as an important revenue stream. Apart from mobile and video, the monetization opportunities of the company’s other subsidiaries –  Messenger, WhatsApp and Oculus – and a huge user base/higher engagement levels are expected to drive growth going ahead. Facebook is also dabbling in augmented reality/virtual reality (AR/VR) and artificial intelligence (AI) technologies, which bodes well for long term growth. In the last one year, it has vastly outperformed the broader market. However, rising costs and stiffening competition for ad dollars is concerning.”

FB has been the topic of a number of other reports. Canaccord Genuity restated a “buy” rating and set a $175.00 price objective on shares of Facebook in a report on Friday, June 16th. Vetr lowered shares of Facebook from a “buy” rating to a “hold” rating and set a $156.06 price objective on the stock. in a report on Thursday, May 25th. Cantor Fitzgerald set a $180.00 price objective on shares of Facebook and gave the stock a “buy” rating in a report on Tuesday, June 20th. Wedbush set a $185.00 price objective on shares of Facebook and gave the stock a “buy” rating in a report on Thursday, May 4th. Finally, Instinet restated a “buy” rating and set a $165.00 price objective on shares of Facebook in a report on Saturday, April 22nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, forty-two have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $180.91.

Facebook (NASDAQ FB) traded down 0.4146% on Wednesday, hitting $170.5201. The company’s stock had a trading volume of 7,224,780 shares. Facebook has a 1-year low of $113.55 and a 1-year high of $175.49. The company has a 50 day moving average price of $159.02 and a 200-day moving average price of $145.94. The company has a market capitalization of $495.22 billion, a P/E ratio of 38.1647 and a beta of 0.70.

Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, July 26th. The social networking company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.19. Facebook had a net margin of 38.84% and a return on equity of 21.73%. The business had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period last year, the business posted $0.97 earnings per share. The firm’s quarterly revenue was up 44.8% on a year-over-year basis. On average, equities analysts forecast that Facebook will post $5.33 earnings per share for the current fiscal year.

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In other news, CEO Mark Zuckerberg sold 286,387 shares of the stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $148.40, for a total value of $42,499,830.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Colin Stretch sold 750 shares of the stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $150.10, for a total transaction of $112,575.00. Following the completion of the sale, the vice president now owns 86,761 shares of the company’s stock, valued at approximately $13,022,826.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,166,363 shares of company stock worth $1,604,306,533. Corporate insiders own 19.08% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. First Financial Corp IN increased its stake in shares of Facebook by 0.5% in the first quarter. First Financial Corp IN now owns 2,436 shares of the social networking company’s stock valued at $346,000 after buying an additional 11 shares in the last quarter. Hartford Financial Management Inc. increased its stake in shares of Facebook by 1.1% in the second quarter. Hartford Financial Management Inc. now owns 1,488 shares of the social networking company’s stock valued at $224,000 after buying an additional 16 shares in the last quarter. Halbert Hargrove Russell LLC increased its stake in shares of Facebook by 0.5% in the second quarter. Halbert Hargrove Russell LLC now owns 3,485 shares of the social networking company’s stock valued at $526,000 after buying an additional 19 shares in the last quarter. Enterprise Financial Services Corp increased its stake in shares of Facebook by 1.0% in the first quarter. Enterprise Financial Services Corp now owns 2,124 shares of the social networking company’s stock valued at $302,000 after buying an additional 21 shares in the last quarter. Finally, Wagner Bowman Management Corp increased its stake in shares of Facebook by 0.5% in the second quarter. Wagner Bowman Management Corp now owns 4,997 shares of the social networking company’s stock valued at $754,000 after buying an additional 25 shares in the last quarter. Institutional investors own 57.60% of the company’s stock.

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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Analyst Recommendations for Facebook (NASDAQ:FB)

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