Facebook, Inc. (NASDAQ:FB) Earns “Buy” Rating from Goldman Sachs Group, Inc. (The)
Goldman Sachs Group, Inc. (The) restated their buy rating on shares of Facebook, Inc. (NASDAQ:FB) in a research report report published on Friday. Goldman Sachs Group, Inc. (The) currently has a $205.00 price target on the social networking company’s stock, up from their prior price target of $180.00.
FB has been the topic of a number of other reports. Canaccord Genuity reissued a buy rating and issued a $175.00 price objective on shares of Facebook in a research report on Friday, June 16th. Vetr lowered shares of Facebook from a buy rating to a hold rating and set a $156.06 price objective on the stock. in a research report on Thursday, May 25th. Cantor Fitzgerald set a $180.00 price objective on shares of Facebook and gave the stock a buy rating in a research report on Tuesday, June 20th. Wedbush set a $185.00 price objective on shares of Facebook and gave the stock a buy rating in a research report on Thursday, May 4th. Finally, Instinet reissued a buy rating and issued a $165.00 price objective on shares of Facebook in a research report on Saturday, April 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, forty-two have assigned a buy rating and four have given a strong buy rating to the stock. Facebook has a consensus rating of Buy and an average price target of $180.91.
Facebook (NASDAQ:FB) traded up 0.32% during mid-day trading on Friday, hitting $169.80. The company had a trading volume of 6,362,478 shares. Facebook has a 1-year low of $113.55 and a 1-year high of $175.49. The stock has a 50 day moving average price of $156.78 and a 200-day moving average price of $145.12. The stock has a market capitalization of $493.13 billion, a PE ratio of 38.00 and a beta of 0.67.
Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, July 26th. The social networking company reported $1.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.19. Facebook had a net margin of 38.84% and a return on equity of 21.73%. The company had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period in the prior year, the company posted $0.97 EPS. The firm’s revenue for the quarter was up 44.8% on a year-over-year basis. On average, analysts forecast that Facebook will post $5.23 earnings per share for the current year.
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In related news, CEO Mark Zuckerberg sold 286,387 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $148.40, for a total transaction of $42,499,830.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael Todd Schroepfer sold 37,919 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $151.21, for a total transaction of $5,733,731.99. Following the sale, the insider now directly owns 733,360 shares in the company, valued at $110,891,365.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,159,966 shares of company stock worth $1,602,037,804. 19.08% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of FB. HCR Wealth Advisors purchased a new position in Facebook during the fourth quarter valued at approximately $3,091,000. GSA Capital Partners LLP boosted its position in Facebook by 3,206.5% in the fourth quarter. GSA Capital Partners LLP now owns 67,287 shares of the social networking company’s stock valued at $7,741,000 after buying an additional 65,252 shares during the period. Independent Advisor Alliance purchased a new position in Facebook during the fourth quarter valued at approximately $6,418,000. M Holdings Securities Inc. boosted its position in Facebook by 15.4% in the fourth quarter. M Holdings Securities Inc. now owns 14,088 shares of the social networking company’s stock valued at $1,621,000 after buying an additional 1,885 shares during the period. Finally, Howard Capital Management boosted its position in Facebook by 2.8% in the first quarter. Howard Capital Management now owns 134,712 shares of the social networking company’s stock valued at $19,136,000 after buying an additional 3,726 shares during the period. 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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