Macquarie reaffirmed their outperform rating on shares of Facebook Inc. (NASDAQ:FB) in a report released on Monday morning. Macquarie currently has a $155.00 target price on the social networking company’s stock.
Several other brokerages also recently issued reports on FB. JPMorgan Chase & Co. reiterated an overweight rating and set a $170.00 price target on shares of Facebook in a report on Friday, September 9th. Loop Capital began coverage on Facebook in a research report on Thursday, September 22nd. They issued a buy rating and a $165.00 price objective on the stock. They noted that the move was a valuation call. Credit Agricole SA reissued a buy rating on shares of Facebook in a research report on Friday, September 23rd. Robert W. Baird reissued an outperform rating and issued a $155.00 price objective on shares of Facebook in a research report on Tuesday, September 6th. Finally, Vetr cut Facebook from a buy rating to a hold rating and set a $134.63 price objective on the stock. in a research report on Tuesday, September 6th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, forty-four have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $149.99.
Facebook (NASDAQ:FB) traded down 0.89% on Monday, reaching $129.08. The company’s stock had a trading volume of 6,092,118 shares. The firm has a market cap of $370.67 billion, a price-to-earnings ratio of 61.70 and a beta of 0.77. The firm has a 50 day moving average of $127.76 and a 200 day moving average of $119.94. Facebook has a 12 month low of $89.37 and a 12 month high of $131.98.
Facebook (NASDAQ:FB) last released its quarterly earnings data on Wednesday, July 27th. The social networking company reported $0.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.15. The firm earned $6.44 billion during the quarter, compared to the consensus estimate of $6 billion. Facebook had a return on equity of 14.38% and a net margin of 27.07%. The company’s quarterly revenue was up 59.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.50 earnings per share. Analysts anticipate that Facebook will post $3.94 earnings per share for the current year.
In other Facebook news, insider Christopher K. Cox sold 37,217 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $117.18, for a total value of $4,361,088.06. Following the transaction, the insider now directly owns 377,357 shares of the company’s stock, valued at approximately $44,218,693.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jan Koum sold 566,668 shares of the firm’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $128.22, for a total transaction of $72,658,170.96. The disclosure for this sale can be found here. Insiders own 19.08% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gofen & Glossberg LLC IL raised its position in Facebook by 2.4% in the third quarter. Gofen & Glossberg LLC IL now owns 140,175 shares of the social networking company’s stock worth $17,980,000 after buying an additional 3,264 shares during the period. Dorsey Wright & Associates increased its stake in shares of Facebook by 5.0% in the third quarter. Dorsey Wright & Associates now owns 48,041 shares of the social networking company’s stock worth $6,162,000 after buying an additional 2,275 shares in the last quarter. E&G Advisors LP increased its stake in shares of Facebook by 0.9% in the third quarter. E&G Advisors LP now owns 10,924 shares of the social networking company’s stock worth $1,401,000 after buying an additional 100 shares in the last quarter. Glaxis Capital Management LLC purchased a new stake in shares of Facebook during the third quarter worth about $2,173,000. Finally, Capital Asset Advisory Services LLC purchased a new stake in shares of Facebook during the third quarter worth about $411,000. 56.61% of the stock is currently owned by institutional investors and hedge funds.
Facebook, Inc builds products that enable people to connect and share through mobile devices and personal computers. The Company enables people to share their opinions, ideas, photos and videos, and other activities. Its products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook is a mobile application and Website that enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
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