Facebook VP Colin Stretch Sells 2,397 Shares (FB)
Facebook (NASDAQ:FB) VP Colin Stretch unloaded 2,397 shares of the company’s stock on the open market in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $50.59, for a total transaction of $121,264.23. Following the transaction, the vice president now directly owns 51,744 shares in the company, valued at approximately $2,617,729. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Topeka Capital Markets raised their price target on shares of Facebook from $47.00 to $60.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Separately, analysts at Piper Jaffray Cos. reiterated an “overweight” rating on shares of Facebook in a research note to investors on Monday. They now have a $57.00 price target on the stock, up previously from $46.00. Finally, analysts at Raymond James downgraded shares of Facebook from a “strong-buy” rating to an “outperform” rating in a research note to investors on Monday. They now have a $56.00 price target on the stock, up previously from $38.00. They noted that the move was a valuation call. Eleven research analysts have rated the stock with a hold rating and thirty-three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $49.18.
Shares of Facebook (NASDAQ:FB) traded up 4.87% during mid-day trading on Thursday, hitting $49.05. The stock had a trading volume of 99,773,784 shares. Facebook has a 1-year low of $18.80 and a 1-year high of $51.60. The stock has a 50-day moving average of $45.20 and a 200-day moving average of $32.14. The company has a market cap of $119.5 billion and a P/E ratio of 211.63.
Facebook (NASDAQ:FB) last issued its quarterly earnings data 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. On average, analysts predict that Facebook will post $0.72 earnings per share for the current fiscal year.
Facebook, Inc (NASDAQ:FB), is engaged in building products to create utility for users, developers, and advertisers.
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