Insider Selling: Facebook VP Sells 2,397 Shares of Stock (FB)
Facebook (NASDAQ:FB) VP Colin Stretch unloaded 2,397 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $48.51, for a total value of $116,278.47. Following the transaction, the vice president now directly owns 56,538 shares of the company’s stock, valued at approximately $2,742,658. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Facebook (NASDAQ:FB) traded up 2.08% during mid-day trading on Wednesday, hitting $49.46. 87,879,616 shares of the company’s stock traded hands. Facebook has a 1-year low of $18.80 and a 1-year high of $49.66. The stock’s 50-day moving average is $41.78 and its 200-day moving average is $30.49. The company has a market cap of $120.5 billion and a price-to-earnings ratio of 219.23.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.19 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.14 by $0.05. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the prior year, the company posted $0.12 earnings per share. The company’s quarterly revenue was up 53.1% on a year-over-year basis. Analysts expect that Facebook will post $0.72 EPS for the current fiscal year.
FB has been the subject of a number of recent research reports. Analysts at Oppenheimer raised their price target on shares of Facebook (NASDAQ:FB) from $36.00 to $54.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at Canaccord Genuity initiated coverage on shares of Facebook (NASDAQ:FB) in a research note to investors on Wednesday. They set a “buy” rating and a $60.00 price target on the stock. Finally, analysts at Citigroup Inc. upgraded shares of Facebook (NASDAQ:FB) from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday. They now have a $55.00 price target on the stock, up previously from $32.00. Nine equities research analysts have rated the stock with a hold rating and thirty-four have assigned a buy rating to the company’s stock. Facebook presently has a consensus rating of “Buy” and a consensus price target of $45.27.
Facebook, Inc (NASDAQ:FB), is engaged in building products to create utility for users, developers, and advertisers.
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