Facebook, Inc. (NASDAQ:FB) Stock Rating Reaffirmed by William Blair
Several other equities research analysts have also commented on the company. Pacific Crest reiterated an overweight rating and set a $155.00 price objective on shares of Facebook in a research note on Monday, April 24th. Needham & Company LLC boosted their price objective on Facebook from $150.00 to $165.00 and gave the stock a buy rating in a research note on Friday, April 28th. Wedbush set a $185.00 price objective on Facebook and gave the stock a buy rating in a research note on Thursday, May 4th. Morgan Stanley reiterated a buy rating and set a $175.00 price objective on shares of Facebook in a research note on Thursday, May 4th. Finally, Nomura set a $165.00 price objective on Facebook and gave the stock a buy rating in a research note on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, forty-two have assigned a buy rating and four have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $178.52.
Shares of Facebook (NASDAQ FB) opened at 172.45 on Wednesday. The company’s 50 day moving average price is $156.22 and its 200 day moving average price is $144.53. Facebook has a 52-week low of $113.55 and a 52-week high of $175.49. The stock has a market cap of $500.11 billion, a PE ratio of 38.58 and a beta of 0.67.
Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.19. The company had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.19 billion. Facebook had a return on equity of 21.73% and a net margin of 38.84%. Facebook’s quarterly revenue was up 44.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.97 EPS. On average, analysts anticipate that Facebook will post $5.23 earnings per share for the current year.
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In other news, Director Susan Desmond-Hellmann sold 209 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $144.67, for a total transaction of $30,236.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Sheryl Sandberg sold 163,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $149.55, for a total transaction of $24,451,425.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,160,716 shares of company stock valued at $1,602,152,681. Insiders own 19.08% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of FB. Norges Bank acquired a new position in shares of Facebook during the fourth quarter worth $2,046,500,000. Harbour Capital Advisors LLC boosted its position in shares of Facebook by 15,047.5% in the second quarter. Harbour Capital Advisors LLC now owns 2,540,691 shares of the social networking company’s stock worth $16,828,000 after buying an additional 2,523,918 shares during the period. State Street Corp boosted its position in shares of Facebook by 1.7% in the first quarter. State Street Corp now owns 93,365,713 shares of the social networking company’s stock worth $13,262,607,000 after buying an additional 1,536,158 shares during the period. HPM Partners LLC acquired a new position in shares of Facebook during the first quarter worth $195,602,000. Finally, Alecta Pensionsforsakring Omsesidigt boosted its position in shares of Facebook by 131.8% in the first quarter. Alecta Pensionsforsakring Omsesidigt now owns 1,970,000 shares of the social networking company’s stock worth $279,838,000 after buying an additional 1,120,000 shares during the period. 57.68% of the stock is owned by institutional investors and hedge funds.
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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