Facebook, Inc. (NASDAQ:FB) insider Christopher K. Cox sold 16,000 shares of the company’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $172.89, for a total value of $2,766,240.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, July 26th. The social networking company reported $1.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.19. The company had revenue of $9.32 billion during the quarter, compared to analyst estimates of $9.19 billion. Facebook had a net margin of 38.84% and a return on equity of 21.73%. The firm’s revenue for the quarter was up 44.8% compared to the same quarter last year. During the same period last year, the business earned $0.97 EPS.
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Several analysts have recently commented on FB shares. Oppenheimer Holdings, Inc. increased their price objective on Facebook from $170.00 to $195.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. JMP Securities reiterated an “outperform” rating and set a $195.00 price objective (up previously from $170.00) on shares of Facebook in a report on Thursday, July 27th. Vetr upgraded Facebook from a “hold” rating to a “buy” rating and set a $174.15 price objective for the company in a report on Monday, August 28th. BidaskClub upgraded Facebook from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 13th. Finally, Robert W. Baird reiterated a “buy” rating and set a $185.00 price objective on shares of Facebook in a report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, forty-three have issued a buy rating and three have issued a strong buy rating to the stock. Facebook presently has an average rating of “Buy” and a consensus target price of $185.38.
Hedge funds have recently made changes to their positions in the business. Arcadia Investment Management Corp MI grew its holdings in Facebook by 20.0% during the 1st quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock worth $102,000 after acquiring an additional 120 shares in the last quarter. D. Scott Neal Inc. grew its holdings in Facebook by 1,358.0% during the 2nd quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock worth $110,000 after acquiring an additional 679 shares in the last quarter. Farmers & Merchants Investments Inc. grew its holdings in Facebook by 4.4% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 809 shares of the social networking company’s stock worth $122,000 after acquiring an additional 34 shares in the last quarter. Pacific Center for Financial Services grew its holdings in Facebook by 10.7% during the 1st quarter. Pacific Center for Financial Services now owns 910 shares of the social networking company’s stock worth $129,000 after acquiring an additional 88 shares in the last quarter. Finally, Mountain Capital Investment Advisors Inc acquired a new position in Facebook during the 2nd quarter worth $138,000. 57.26% of the stock is owned by institutional investors.
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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