Facebook (NASDAQ:FB)‘s stock had its “buy” rating reissued by Canaccord Genuity in a report issued on Friday, AnalystRatings.com reports. They presently have a $290.00 price objective on the social networking company’s stock, up from their prior price objective of $275.00. Canaccord Genuity’s price objective would suggest a potential upside of 14.32% from the stock’s current price.
FB has been the subject of a number of other research reports. Morgan Stanley boosted their price target on shares of Facebook from $270.00 to $285.00 and gave the stock an “overweight” rating in a research note on Friday. Goldman Sachs Group reissued a “buy” rating and issued a $303.00 price target (up previously from $265.00) on shares of Facebook in a research note on Friday. JPMorgan Chase & Co. reissued a “buy” rating and issued a $300.00 price target (up previously from $290.00) on shares of Facebook in a research note on Friday. Zacks Investment Research raised shares of Facebook from a “hold” rating to a “buy” rating and set a $236.00 price target for the company in a research note on Friday, June 12th. Finally, Deutsche Bank boosted their price target on shares of Facebook from $220.00 to $275.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $273.37.
NASDAQ:FB traded up $19.17 during mid-day trading on Friday, hitting $253.67. 53,030,037 shares of the stock traded hands, compared to its average volume of 19,530,204. The business’s 50-day moving average price is $235.27 and its 200 day moving average price is $207.59. The company has a market cap of $722.73 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 1.81 and a beta of 1.19. Facebook has a 12-month low of $137.10 and a 12-month high of $255.85. The company has a quick ratio of 4.60, a current ratio of 4.60 and a debt-to-equity ratio of 0.09.
In other news, CRO David B. Fischer sold 22,000 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $205.29, for a total value of $4,516,380.00. Following the sale, the executive now directly owns 57,503 shares of the company’s stock, valued at approximately $11,804,790.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jennifer Newstead sold 194 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $234.76, for a total transaction of $45,543.44. Following the completion of the sale, the vice president now directly owns 1,918 shares in the company, valued at $450,269.68. The disclosure for this sale can be found here. Insiders sold a total of 68,591 shares of company stock worth $14,894,825 over the last ninety days. Insiders own 14.14% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Watson Rebecca purchased a new stake in Facebook during the 2nd quarter valued at about $25,000. JJJ Advisors Inc. grew its position in Facebook by 262.5% during the 2nd quarter. JJJ Advisors Inc. now owns 145 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 105 shares during the last quarter. HHM Wealth Advisors LLC purchased a new stake in Facebook during the 1st quarter valued at about $41,000. Elmwood Wealth Management Inc. purchased a new stake in Facebook during the 1st quarter valued at about $46,000. Finally, NuWave Investment Management LLC grew its position in Facebook by 1,019.2% during the 1st quarter. NuWave Investment Management LLC now owns 291 shares of the social networking company’s stock valued at $49,000 after purchasing an additional 265 shares during the last quarter. 65.12% of the stock is currently owned by hedge funds and other institutional investors.
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.
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