Facebook (NASDAQ:FB)‘s stock had its “buy” rating restated by JPMorgan Chase & Co. in a note issued to investors on Friday, The Fly reports. They presently have a $300.00 target price on the social networking company’s stock, up from their prior target price of $290.00. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 18.26% from the company’s current price.
Other equities analysts have also issued reports about the company. Needham & Company LLC started coverage on Facebook in a report on Thursday, July 2nd. They issued a “hold” rating for the company. Raymond James reissued a “buy” rating on shares of Facebook in a report on Monday, June 29th. SunTrust Banks reaffirmed a “buy” rating and set a $285.00 price target (up from $245.00) on shares of Facebook in a research note on Friday. BMO Capital Markets reaffirmed a “hold” rating and set a $220.00 price target on shares of Facebook in a research note on Monday, July 27th. Finally, Pivotal Research raised Facebook from a “sell” rating to a “hold” rating and increased their price target for the company from $167.00 to $225.00 in a research note on Thursday, April 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $273.37.
Shares of NASDAQ:FB traded up $19.17 during trading on Friday, hitting $253.67. The company’s stock had a trading volume of 53,030,037 shares, compared to its average volume of 19,530,204. The stock’s 50-day moving average price is $235.27 and its two-hundred day moving average price is $207.59. Facebook has a fifty-two week low of $137.10 and a fifty-two week high of $255.85. The company has a market capitalization of $722.73 billion, a PE ratio of 30.97, a PEG ratio of 1.81 and a beta of 1.19. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.60 and a current ratio of 4.60.
In related news, VP Jennifer Newstead sold 194 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $207.43, for a total transaction of $40,241.42. Following the completion of the sale, the vice president now directly owns 406 shares in the company, valued at $84,216.58. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO David B. Fischer sold 22,000 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $205.29, for a total value of $4,516,380.00. Following the sale, the executive now owns 57,503 shares of the company’s stock, valued at $11,804,790.87. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,591 shares of company stock valued at $14,894,825. 14.14% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the business. Watson Rebecca acquired a new position in Facebook during the second quarter worth $25,000. JJJ Advisors Inc. increased its position in Facebook by 262.5% during the second quarter. JJJ Advisors Inc. now owns 145 shares of the social networking company’s stock worth $33,000 after buying an additional 105 shares during the last quarter. HHM Wealth Advisors LLC acquired a new position in Facebook during the first quarter worth $41,000. Elmwood Wealth Management Inc. acquired a new position in Facebook during the first quarter worth $46,000. Finally, NuWave Investment Management LLC increased its position in Facebook by 1,019.2% during the first quarter. NuWave Investment Management LLC now owns 291 shares of the social networking company’s stock worth $49,000 after buying 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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