Facebook CAO Sells $1,785,280 in Stock (FB)
Facebook (NASDAQ:FB) CAO Jas Athwal unloaded 28,000 shares of Facebook stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $63.76, for a total transaction of $1,785,280.00. Following the transaction, the chief accounting officer now directly owns 122,807 shares of the company’s stock, valued at approximately $7,830,174. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Facebook (NASDAQ:FB) traded down 0.62% during mid-day trading on Wednesday, hitting $64.45. 47,409,856 shares of the company’s stock traded hands. Facebook has a 52-week low of $22.67 and a 52-week high of $65.06. The stock has a 50-day moving average of $58.26 and a 200-day moving average of $49.21. The company has a market cap of $164.3 billion and a price-to-earnings ratio of 106.14. Facebook also saw a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 34,175,129 shares, a decline of 22.3% from the January 15th total of 43,981,885 shares. Currently, 1.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 67,809,086 shares, the days-to-cover ratio is presently 0.5 days.
Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, January 29th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.04. The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up 63.1% on a year-over-year basis. On average, analysts predict that Facebook will post $1.25 earnings per share for the current fiscal year.
A number of research firms have recently commented on FB. Analysts at Zacks downgraded shares of Facebook from an “outperform” rating to a “neutral” rating in a research note on Friday, February 7th. They now have a $65.00 price target on the stock. Separately, analysts at Argus raised their price target on shares of Facebook from $63.00 to $73.00 in a research note on Monday, February 3rd. They now have a “buy” rating on the stock. Finally, analysts at UBS AG raised their price target on shares of Facebook from $62.00 to $72.00 in a research note on Thursday, January 30th. They now have a “buy” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $68.32.
Facebook, Inc (NASDAQ:FB) is engaged in building products to create utility for users, developers, and advertisers.
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