Investors Buy Shares of Facebook (FB) on Weakness on Insider Selling
Investors purchased shares of Facebook, Inc. (NASDAQ:FB) on weakness during trading hours on Monday after an insider sold shares in the company. $1,545.44 million flowed into the stock on the tick-up and $1,427.76 million flowed out of the stock on the tick-down, for a money net flow of $117.68 million into the stock. Of all equities tracked, Facebook had the 5th highest net in-flow for the day. Facebook traded down ($7.98) for the day and closed at $131.55Specifically, CFO David M. Wehner sold 4,761 shares of the business’s stock in a transaction on Friday, November 16th. The stock was sold at an average price of $141.10, for a total transaction of $671,777.10. Following the sale, the chief financial officer now owns 76,830 shares in the company, valued at approximately $10,840,713. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Susan J.S. Taylor sold 2,112 shares of the business’s stock in a transaction on Monday, November 19th. The stock was sold at an average price of $137.50, for a total value of $290,400.00. Following the sale, the insider now owns 6,927 shares in the company, valued at approximately $952,462.50. The disclosure for this sale can be found here. Insiders have sold a total of 1,739,660 shares of company stock valued at $298,124,908 in the last three months. 16.25% of the stock is owned by insiders.
A number of research firms have commented on FB. SunTrust Banks reduced their price target on Facebook to $200.00 and set a “buy” rating on the stock in a research report on Thursday, July 26th. Wells Fargo & Co set a $220.00 price target on Facebook and gave the company a “buy” rating in a research report on Monday, October 29th. Credit Suisse Group reiterated a “buy” rating and issued a $210.00 price target on shares of Facebook in a research report on Wednesday, October 31st. Raymond James lowered Facebook from a “strong-buy” rating to an “outperform” rating and set a $210.00 price target on the stock. in a research report on Thursday, July 26th. Finally, Bank of America reduced their price target on Facebook from $205.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, October 24th. Four analysts have rated the stock with a sell rating, six have given a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the stock. Facebook currently has an average rating of “Buy” and a consensus price target of $194.54.
The company has a market cap of $405.33 billion, a PE ratio of 21.50, a PEG ratio of 0.85 and a beta of 0.55.
A number of hedge funds have recently bought and sold shares of FB. Baker Ellis Asset Management LLC purchased a new stake in shares of Facebook in the third quarter worth approximately $119,000. Cribstone Capital Management LLC raised its stake in shares of Facebook by 186.2% in the second quarter. Cribstone Capital Management LLC now owns 624 shares of the social networking company’s stock worth $121,000 after purchasing an additional 406 shares during the last quarter. IMA Wealth Inc. purchased a new stake in shares of Facebook in the second quarter worth approximately $122,000. Trust Department MB Financial Bank N A purchased a new stake in shares of Facebook in the second quarter worth approximately $134,000. Finally, Aviance Capital Management LLC purchased a new stake in shares of Facebook in the second quarter worth approximately $151,000. 58.98% of the stock is currently owned by institutional investors and hedge funds.
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Facebook Company Profile (NASDAQ:FB)
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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