Traders Buy Facebook (FB) on Weakness

Traders purchased shares of Facebook Inc (NASDAQ:FB) on weakness during trading on Thursday. $653.70 million flowed into the stock on the tick-up and $551.96 million flowed out of the stock on the tick-down, for a money net flow of $101.74 million into the stock. Of all stocks tracked, Facebook had the 3rd highest net in-flow for the day. Facebook traded down ($0.34) for the day and closed at $184.33

Several brokerages have issued reports on FB. Cowen reaffirmed a “buy” rating and set a $220.00 price target on shares of Facebook in a research note on Thursday. Citigroup reissued a “buy” rating and issued a $200.00 target price on shares of Facebook in a research note on Wednesday, September 27th. Zacks Investment Research raised Facebook from a “hold” rating to a “buy” rating and set a $198.00 target price for the company in a research note on Tuesday. Canaccord Genuity reissued a “buy” rating and issued a $230.00 target price on shares of Facebook in a research note on Tuesday. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $190.00 target price on shares of Facebook in a research note on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, forty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $201.84.

The stock has a market cap of $535,630.00, a P/E ratio of 34.26, a price-to-earnings-growth ratio of 1.03 and a beta of 0.68.

Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, November 1st. The social networking company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.31. The company had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $9.84 billion. Facebook had a return on equity of 23.64% and a net margin of 41.69%. The firm’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.09 EPS. analysts anticipate that Facebook Inc will post 5.86 earnings per share for the current year.

In other news, insider Christopher K. Cox sold 16,000 shares of the stock in a transaction on Monday, October 9th. The stock was sold at an average price of $172.89, for a total transaction of $2,766,240.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Colin Stretch sold 750 shares of the stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $172.98, for a total value of $129,735.00. The disclosure for this sale can be found here. Insiders sold a total of 4,568,712 shares of company stock worth $818,756,804 over the last ninety days. 17.23% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in FB. D. Scott Neal Inc. raised its holdings in Facebook by 1,358.0% in the 2nd quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock worth $110,000 after purchasing an additional 679 shares during the period. Moisand Fitzgerald Tamayo LLC purchased a new stake in Facebook in the 3rd quarter worth $111,000. Mountain Capital Investment Advisors Inc purchased a new stake in Facebook in the 2nd quarter worth $138,000. Vigilant Capital Management LLC increased its stake in Facebook by 17.8% in the 2nd quarter. Vigilant Capital Management LLC now owns 991 shares of the social networking company’s stock worth $150,000 after buying an additional 150 shares in the last quarter. Finally, Stelac Advisory Services LLC purchased a new stake in Facebook in the 3rd quarter worth $152,000. 57.72% of the stock is currently owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: “Traders Buy Facebook (FB) on Weakness” was reported by Ticker Report and is owned by of Ticker Report. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international copyright laws. The correct version of this piece can be accessed at https://www.tickerreport.com/banking-finance/3126040/traders-buy-facebook-fb-on-weakness-2.html.

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.

Receive News & Ratings for Facebook Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2018 Ticker Report. Google+.