Facebook (FB) Earns “Buy” Rating from JPMorgan Chase & Co.
JPMorgan Chase & Co. reaffirmed their buy rating on shares of Facebook (NASDAQ:FB) in a research note issued to investors on Tuesday. JPMorgan Chase & Co. currently has a $195.00 price objective on the social networking company’s stock.
Several other analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Facebook from a hold rating to a buy rating and set a $149.00 price target for the company in a report on Wednesday, January 2nd. Raymond James reiterated a buy rating and issued a $210.00 target price on shares of Facebook in a research note on Friday, October 19th. Goldman Sachs Group reiterated a buy rating and issued a $205.00 target price on shares of Facebook in a research note on Monday, October 22nd. Wedbush set a $250.00 target price on shares of Facebook and gave the company a buy rating in a research note on Friday, October 26th. Finally, Stifel Nicolaus cut shares of Facebook from a buy rating to a hold rating and set a $150.00 target price for the company. in a research note on Wednesday, December 5th. Four analysts have rated the stock with a sell rating, nine have given a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $186.92.
Shares of FB stock traded down $0.35 during trading on Tuesday, hitting $143.85. 450,477 shares of the company were exchanged, compared to its average volume of 26,609,208. The stock has a market cap of $418.99 billion, a P/E ratio of 23.50, a P/E/G ratio of 0.92 and a beta of 0.58. Facebook has a twelve month low of $123.02 and a twelve month high of $218.62.
In other news, insider Christopher K. Cox sold 5,300 shares of the business’s stock in a transaction on Monday, October 15th. The shares were sold at an average price of $153.44, for a total value of $813,232.00. Following the sale, the insider now owns 120,737 shares in the company, valued at approximately $18,525,885.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Colin Stretch sold 750 shares of the business’s stock in a transaction on Wednesday, October 17th. The shares were sold at an average price of $160.00, for a total transaction of $120,000.00. Following the completion of the sale, the vice president now owns 92,394 shares in the company, valued at approximately $14,783,040. The disclosure for this sale can be found here. Insiders sold a total of 431,850 shares of company stock worth $60,909,341 in the last three months. Insiders own 16.25% of the company’s stock.
Several large investors have recently modified their holdings of FB. Claybrook Capital LLC lifted its position in Facebook by 20.0% during the 3rd quarter. Claybrook Capital LLC now owns 600 shares of the social networking company’s stock worth $99,000 after buying an additional 100 shares in the last quarter. Baker Ellis Asset Management LLC acquired a new position in Facebook during the 3rd quarter worth about $119,000. Cribstone Capital Management LLC lifted its position in Facebook by 186.2% during the 2nd quarter. Cribstone Capital Management LLC now owns 624 shares of the social networking company’s stock worth $121,000 after buying an additional 406 shares in the last quarter. IMA Wealth Inc. acquired a new position in Facebook during the 2nd quarter worth about $122,000. Finally, Trust Department MB Financial Bank N A acquired a new position in Facebook during the 2nd quarter worth about $134,000. Institutional investors own 58.14% of the company’s stock.
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.
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