Credit Suisse Group Reiterates “Outperform” Rating for Facebook (FB)
Credit Suisse Group restated their outperform rating on shares of Facebook (NASDAQ:FB) in a research note published on Monday morning, MarketBeat reports. Credit Suisse Group currently has a $232.00 target price on the social networking company’s stock, up from their prior target price of $230.00.
A number of other brokerages also recently issued reports on FB. Vetr downgraded Facebook from a strong-buy rating to a buy rating and set a $203.53 price objective for the company. in a research report on Wednesday, January 3rd. Cowen reissued a buy rating and set a $220.00 price objective on shares of Facebook in a research report on Thursday, January 4th. Zacks Investment Research raised Facebook from a hold rating to a buy rating and set a $198.00 price objective for the company in a research report on Tuesday, January 2nd. Aegis lifted their target price on Facebook from $200.00 to $215.00 and gave the company a buy rating in a research report on Wednesday, November 1st. Finally, Royal Bank of Canada lifted their target price on Facebook from $195.00 to $230.00 and gave the company an outperform rating in a research report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, forty-four have issued a buy rating and two have issued a strong buy rating to the company. Facebook presently has an average rating of Buy and a consensus price target of $202.56.
Shares of Facebook (NASDAQ FB) traded down $0.41 during trading hours on Monday, hitting $187.87. The company had a trading volume of 12,393,057 shares, compared to its average volume of 16,700,000. The firm has a market cap of $545,910.00, a P/E ratio of 34.92, a price-to-earnings-growth ratio of 1.06 and a beta of 0.68. Facebook has a 1 year low of $123.04 and a 1 year high of $188.90.
In related news, CEO Mark Zuckerberg sold 123,485 shares of the business’s stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $172.08, for a total transaction of $21,249,298.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher K. Cox sold 16,000 shares of the business’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $175.20, for a total value of $2,803,200.00. Following the sale, the insider now owns 172,871 shares of the company’s stock, valued at approximately $30,286,999.20. The disclosure for this sale can be found here. Insiders sold a total of 4,513,904 shares of company stock valued at $809,333,502 in the last quarter. Company insiders own 17.23% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its stake in Facebook by 283.6% in 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 last quarter. Truepoint Inc. lifted its stake in Facebook by 16,822.1% in 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 last quarter. Vanguard Group Inc. lifted its stake in Facebook by 3.3% in 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 last quarter. BlackRock Inc. lifted its stake in Facebook by 3.0% in 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 last quarter. Finally, Harding Loevner LP lifted its stake in Facebook by 229.7% in 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 last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.
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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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