Facebook (NASDAQ:FB)‘s stock had its “buy” rating restated by analysts at Royal Bank of Canada in a research report issued to clients and investors on Thursday, The Fly reports. They currently have a $260.00 price target on the social networking company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 30.16% from the company’s previous close.
Several other brokerages also recently commented on FB. JMP Securities lowered their price objective on shares of Tesla from $374.00 to $369.00 and set a “market outperform” rating for the company in a research note on Thursday, April 25th. Nomura increased their price target on shares of Visa from $175.00 to $178.00 and gave the company a “buy” rating in a report on Thursday, April 25th. KeyCorp restated a “hold” rating on shares of Packaging Corp Of America in a report on Thursday, April 25th. Oppenheimer lifted their price target on shares of Chipotle Mexican Grill from $400.00 to $525.00 and gave the stock an “underperform” rating in a research note on Thursday, April 25th. Finally, Credit Suisse Group restated a “hold” rating and set a $32.00 price objective on shares of CRH in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and forty-four have assigned a buy rating to the company. Facebook currently has a consensus rating of “Buy” and a consensus target price of $219.67.
FB stock traded down $0.96 during mid-day trading on Thursday, reaching $199.75. 23,090,882 shares of the company traded hands, compared to its average volume of 18,331,736. The firm has a market cap of $584.20 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 1.26 and a beta of 0.97. The company has a current ratio of 5.38, a quick ratio of 5.38 and a debt-to-equity ratio of 0.08. Facebook has a fifty-two week low of $123.02 and a fifty-two week high of $208.66. The company has a 50 day simple moving average of $192.39.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, July 24th. The social networking company reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.09. Facebook had a net margin of 27.26% and a return on equity of 24.11%. The company had revenue of $16.89 billion for the quarter, compared to analysts’ expectations of $16.49 billion. During the same quarter in the previous year, the firm posted $1.74 EPS. Facebook’s revenue was up 27.6% on a year-over-year basis. On average, equities analysts predict that Facebook will post 8 EPS for the current fiscal year.
In related news, COO Sheryl Sandberg sold 55,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $181.10, for a total value of $9,960,500.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Colin Stretch sold 750 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $194.78, for a total transaction of $146,085.00. Following the completion of the sale, the vice president now owns 99,372 shares in the company, valued at $19,355,678.16. The disclosure for this sale can be found here. Insiders sold a total of 306,480 shares of company stock worth $56,660,885 over the last quarter. Insiders own 14.53% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund increased its stake in shares of Facebook by 13,908.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 70,768,412 shares of the social networking company’s stock valued at $540,000 after acquiring an additional 70,263,213 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of Facebook by 16.8% during the 1st quarter. Clearbridge Investments LLC now owns 8,783,577 shares of the social networking company’s stock valued at $1,464,134,000 after acquiring an additional 1,266,152 shares during the last quarter. Flossbach Von Storch AG increased its stake in shares of Facebook by 49.5% during the 4th quarter. Flossbach Von Storch AG now owns 4,139,622 shares of the social networking company’s stock valued at $542,663,000 after acquiring an additional 1,370,767 shares during the last quarter. Sanders Capital LLC increased its stake in shares of Facebook by 3.3% during the 2nd quarter. Sanders Capital LLC now owns 3,888,800 shares of the social networking company’s stock valued at $835,994,000 after acquiring an additional 122,900 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its stake in shares of Facebook by 10.7% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 3,100,000 shares of the social networking company’s stock valued at $406,379,000 after acquiring an additional 300,000 shares during the last quarter. 61.75% of the stock is owned by hedge funds and other institutional investors.
Facebook Company Profile
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.
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