Insider Selling: Sheryl Sandberg Unloads 176,452 Shares of Facebook Stock (FB)
Facebook (NASDAQ:FB) COO Sheryl Sandberg unloaded 176,452 shares of the company’s stock on the open market in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $49.06, for a total value of $8,656,735.12. Following the sale, the chief operating officer now directly owns 12,123,507 shares in the company, valued at approximately $594,779,253. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Facebook (NASDAQ:FB) traded up 2.08% during mid-day trading on Wednesday, hitting $49.46. The stock had a trading volume of 87,879,616 shares. Facebook has a 1-year low of $18.80 and a 1-year high of $49.66. The stock has a 50-day moving average of $41.78 and a 200-day moving average of $30.49. The company has a market cap of $120.5 billion and a P/E ratio of 219.23.
Facebook (NASDAQ:FB) last released its earnings data on Wednesday, July 24th. The company reported $0.19 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.12 earnings per share. Facebook’s revenue was up 53.1% compared to the same quarter last year. On average, analysts predict that Facebook will post $0.72 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. 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 given a buy rating to the stock. The company has a consensus rating of “Buy” and an average 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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