Investors Sell Facebook (FB) on Strength Following Insider Selling
Investors sold shares of Facebook, Inc. (NASDAQ:FB) on strength during trading on Wednesday after an insider sold shares in the company. $808.46 million flowed into the stock on the tick-up and $903.25 million flowed out of the stock on the tick-down, for a money net flow of $94.79 million out of the stock. Of all stocks tracked, Facebook had the 0th highest net out-flow for the day. Facebook traded up $2.04 for the day and closed at $166.95Specifically, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, September 26th. The stock was sold at an average price of $164.29, for a total value of $123,217.50. Following the completion of the transaction, the vice president now directly owns 94,644 shares in the company, valued at $15,549,062.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher K. Cox sold 10,600 shares of the firm’s stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $194.13, for a total value of $2,057,778.00. Following the completion of the transaction, the insider now owns 123,482 shares of the company’s stock, valued at $23,971,560.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,859,098 shares of company stock valued at $1,505,338,540. Corporate insiders own 17.23% of the company’s stock.
Several research analysts have recently commented on the company. Wedbush reiterated an “outperform” rating and set a $275.00 target price on shares of Facebook in a research note on Friday, July 20th. Cleveland Research reiterated a “buy” rating on shares of Facebook in a research note on Thursday, September 13th. Oppenheimer reiterated a “buy” rating and set a $200.00 target price on shares of Facebook in a research note on Thursday, July 26th. Citigroup downgraded Facebook to a “buy” rating and reduced their target price for the stock from $220.00 to $210.00 in a research note on Thursday, July 26th. They noted that the move was a valuation call. Finally, Deutsche Bank reiterated a “buy” rating and set a $205.00 target price on shares of Facebook in a research note on Thursday, July 26th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the stock. Facebook presently has an average rating of “Buy” and an average price target of $206.65.
The firm has a market cap of $479.06 billion, a price-to-earnings ratio of 27.41, a price-to-earnings-growth ratio of 1.06 and a beta of 0.49.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Risk Paradigm Group LLC raised its holdings in shares of Facebook by 81.4% during the 4th quarter. Risk Paradigm Group LLC now owns 655 shares of the social networking company’s stock worth $116,000 after buying an additional 294 shares in the last quarter. Cribstone Capital Management LLC raised its holdings in shares of 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 shares of Facebook during the 2nd quarter worth $122,000. Trust Department MB Financial Bank N A acquired a new position in shares of Facebook during the 2nd quarter worth $134,000. Finally, Aviance Capital Management LLC acquired a new position in shares of Facebook during the 2nd quarter worth $151,000. 60.39% of the stock is owned by hedge funds and other institutional investors.
Facebook Company Profile (NASDAQ:FB)
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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