BidaskClub Downgrades Facebook (FB) to Buy
BidaskClub cut shares of Facebook (NASDAQ:FB) from a strong-buy rating to a buy rating in a research report released on Friday morning.
Several other research firms have also weighed in on FB. JPMorgan Chase & Co. set a $230.00 price objective on Facebook and gave the stock a buy rating in a research report on Monday, January 8th. Pivotal Research reissued a sell rating and issued a $147.00 price objective on shares of Facebook in a research report on Monday, January 8th. Credit Suisse Group lifted their price objective on Facebook from $230.00 to $232.00 and gave the stock an outperform rating in a research report on Monday, January 8th. Wells Fargo & Co reissued an outperform rating and issued a $230.00 price objective (up from $215.00) on shares of Facebook in a research report on Monday, January 8th. Finally, Vetr raised Facebook from a buy rating to a strong-buy rating and set a $210.43 price objective for the company in a research report on Wednesday, January 10th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, forty-three have assigned a buy rating and two have issued a strong buy rating to the company. Facebook has an average rating of Buy and a consensus price target of $202.86.
Facebook (NASDAQ FB) traded up $1.49 during mid-day trading on Friday, hitting $181.29. The stock had a trading volume of 26,266,081 shares, compared to its average volume of 18,350,000. Facebook has a 1 year low of $126.78 and a 1 year high of $188.90. The company has a market cap of $531,160.00, a price-to-earnings ratio of 33.70, a PEG ratio of 1.02 and a beta of 0.68.
In related news, VP David B. Fischer sold 4,699 shares of the company’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $171.53, for a total value of $806,019.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher K. Cox sold 16,000 shares of the company’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $175.20, for a total transaction of $2,803,200.00. Following the completion of the transaction, the insider now owns 172,871 shares of the company’s stock, valued at $30,286,999.20. The disclosure for this sale can be found here. Insiders sold 4,181,449 shares of company stock valued at $752,592,962 over the last quarter. 17.23% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of FB. Janus Henderson Group PLC boosted its position in Facebook by 283.6% during the second quarter. Janus Henderson Group PLC now owns 11,888,149 shares of the social networking company’s stock valued at $1,794,857,000 after buying an additional 8,788,743 shares during the period. Truepoint Inc. boosted its position in Facebook by 16,822.1% during the third quarter. Truepoint Inc. now owns 6,137,138 shares of the social networking company’s stock valued at $6,137,000 after buying an additional 6,100,871 shares during the period. Vanguard Group Inc. boosted its position in Facebook by 3.3% during the second quarter. Vanguard Group Inc. now owns 162,530,760 shares of the social networking company’s stock valued at $24,538,895,000 after buying an additional 5,151,190 shares during the period. BlackRock Inc. boosted its position in Facebook by 3.0% during the second quarter. BlackRock Inc. now owns 138,877,313 shares of the social networking company’s stock valued at $20,967,696,000 after buying an additional 4,032,727 shares during the period. Finally, Harding Loevner LP boosted its position in Facebook by 229.7% during the third quarter. Harding Loevner LP now owns 4,258,885 shares of the social networking company’s stock valued at $215,130,000 after buying an additional 2,966,978 shares during the period. Institutional investors and hedge funds own 57.75% of the company’s stock.
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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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