Facebook VP Unloads $1,175,760 in Stock (FB)
Facebook (NASDAQ:FB) VP David Fischer sold 24,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $48.99, for a total transaction of $1,175,760.00. Following the completion of the transaction, the vice president now directly owns 517,082 shares of the company’s stock, valued at approximately $25,331,847. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
FB has been the subject of a number of recent research reports. 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 equities research analysts have rated the stock with a hold rating and thirty-three have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $49.18.
Shares of Facebook (NASDAQ:FB) traded up 4.87% on Thursday, hitting $49.05. 99,773,784 shares of the company’s stock traded hands. Facebook has a one year low of $18.80 and a one year high of $51.60. The stock’s 50-day moving average is $45.20 and its 200-day moving average is $32.14. The company has a market cap of $119.5 billion and a price-to-earnings ratio of 211.63.
Facebook (NASDAQ:FB) last announced its earnings results 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. Analysts expect that Facebook will post $0.72 EPS 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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