Facebook, Inc. (FB) Insider Sells $2,738,080.00 in Stock
Facebook, Inc. (NASDAQ:FB) insider Christopher K. Cox sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $171.13, for a total transaction of $2,738,080.00. Following the completion of the sale, the insider now directly owns 194,666 shares in the company, valued at approximately $33,313,192.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Facebook, Inc. (FB) opened at 173.05 on Thursday. The company’s 50 day moving average price is $169.69 and its 200 day moving average price is $153.28. The firm has a market capitalization of $502.57 billion, a price-to-earnings ratio of 38.73 and a beta of 0.76. Facebook, Inc. has a 52-week low of $113.55 and a 52-week high of $175.49.
Facebook (NASDAQ:FB) last released its earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.19. The firm had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.19 billion. Facebook had a return on equity of 21.73% and a net margin of 38.84%. The company’s revenue was up 44.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.97 EPS. Analysts forecast that Facebook, Inc. will post $5.33 earnings per share for the current year.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mutual of America Capital Management LLC grew its holdings in Facebook by 2.4% in the 1st quarter. Mutual of America Capital Management LLC now owns 284,167 shares of the social networking company’s stock valued at $40,366,000 after buying an additional 6,740 shares during the last quarter. Grand Jean Capital Management Inc. grew its holdings in Facebook by 14.3% in the 1st quarter. Grand Jean Capital Management Inc. now owns 127,250 shares of the social networking company’s stock valued at $18,076,000 after buying an additional 15,910 shares during the last quarter. Segment Wealth Management LLC grew its holdings in shares of Facebook by 157.5% during the 1st quarter. Segment Wealth Management LLC now owns 7,333 shares of the social networking company’s stock worth $1,042,000 after purchasing an additional 4,485 shares in the last quarter. Howard Capital Management grew its holdings in shares of Facebook by 2.8% during the 1st quarter. Howard Capital Management now owns 134,712 shares of the social networking company’s stock worth $19,136,000 after purchasing an additional 3,726 shares in the last quarter. Finally, Patten & Patten Inc. TN grew its holdings in shares of Facebook by 14.0% during the 1st quarter. Patten & Patten Inc. TN now owns 9,785 shares of the social networking company’s stock worth $1,390,000 after purchasing an additional 1,200 shares in the last quarter. 57.30% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently weighed in on the stock. Barclays PLC set a $200.00 target price on shares of Facebook and gave the company a “buy” rating in a report on Friday, July 28th. FBN Securities reissued an “outperform” rating and set a $210.00 price objective (up previously from $175.00) on shares of Facebook in a report on Sunday, July 30th. Morgan Stanley set a $190.00 price objective on shares of Facebook and gave the stock a “buy” rating in a report on Monday, July 31st. Atlantic Securities set a $200.00 price objective on shares of Facebook and gave the stock a “buy” rating in a report on Monday, July 31st. Finally, Pivotal Research cut shares of Facebook from a “hold” rating to a “sell” rating and cut their price objective for the stock from $172.45 to $140.00 in a report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, forty-three have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $183.74.
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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