Aegis Reiterates “Buy” Rating for Facebook, Inc. (NASDAQ:FB)
Aegis restated their buy rating on shares of Facebook, Inc. (NASDAQ:FB) in a research report report published on Thursday morning. The firm currently has a $200.00 target price on the social networking company’s stock, up from their previous target price of $185.00.
A number of other research analysts also recently issued reports on the stock. Bank of America Corporation reaffirmed a buy rating and issued a $190.00 price objective (up previously from $180.00) on shares of Facebook in a research report on Thursday. Royal Bank Of Canada reiterated an outperform rating and issued a $195.00 target price (up from $185.00) on shares of Facebook in a research note on Thursday. JMP Securities reiterated an outperform rating and issued a $195.00 target price (up from $170.00) on shares of Facebook in a research note on Thursday. UBS AG reiterated a buy rating and issued a $190.00 target price (up from $168.00) on shares of Facebook in a research note on Thursday. Finally, Canaccord Genuity reiterated a buy rating and issued a $190.00 target price (up from $175.00) on shares of Facebook in a research note on Thursday. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, forty-two have given a buy rating and four have given a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $180.91.
Shares of Facebook (NASDAQ:FB) traded down 1.86% on Thursday, hitting $169.25. 25,386,831 shares of the stock traded hands. The stock’s 50 day moving average price is $156.22 and its 200 day moving average price is $144.53. The stock has a market cap of $491.54 billion, a P/E ratio of 37.88 and a beta of 0.67. Facebook has a 52-week low of $113.55 and a 52-week high of $175.49.
Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, July 26th. The social networking company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.19. Facebook had a net margin of 38.84% and a return on equity of 21.73%. The firm had revenue of $9.32 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter in the previous year, the firm earned $0.97 EPS. The company’s quarterly revenue was up 44.8% compared to the same quarter last year. On average, equities analysts expect that Facebook will post $5.23 EPS for the current fiscal year.
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In other Facebook news, VP Colin Stretch sold 750 shares of Facebook stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $165.29, for a total value of $123,967.50. Following the completion of the sale, the vice president now owns 83,906 shares in the company, valued at approximately $13,868,822.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jan Koum sold 3,600,000 shares of Facebook stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $160.06, for a total value of $576,216,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,160,716 shares of company stock valued at $1,602,152,681. 19.08% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Selkirk Management LLC acquired a new stake in Facebook during the fourth quarter valued at approximately $3,106,000. Envestnet Asset Management Inc. raised its position in Facebook by 1.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 240,103 shares of the social networking company’s stock valued at $27,619,000 after buying an additional 2,350 shares in the last quarter. Tyers Asset Management LLC purchased a new position in Facebook during the fourth quarter valued at $34,083,000. Asturias Capital LLC purchased a new position in Facebook during the fourth quarter valued at $10,726,000. Finally, Arrowpoint Asset Management LLC raised its position in Facebook by 5.5% in the fourth quarter. Arrowpoint Asset Management LLC now owns 15,400 shares of the social networking company’s stock valued at $1,772,000 after buying an additional 808 shares in the last quarter. Institutional investors own 57.62% of the company’s stock.
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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