Insider Selling: Facebook VP Sells 60,634 Shares of Stock (FB)
Facebook (NASDAQ:FB) VP David B. Fischer sold 60,634 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $66.86, for a total value of $4,053,989.24. Following the completion of the transaction, the vice president now directly owns 522,796 shares in the company, valued at approximately $34,954,141. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
FB has been the subject of a number of recent research reports. Analysts at TheStreet reiterated a “hold” rating on shares of Facebook in a research note on Tuesday. Separately, 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. Finally, 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. Seven research analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company’s stock. Facebook presently has an average rating of “Buy” and a consensus target price of $68.32.
Facebook (NASDAQ:FB) opened at 68.06 on Thursday. Facebook has a 52 week low of $22.67 and a 52 week high of $69.08. The stock’s 50-day moving average is $59.72 and its 200-day moving average is $50.19. The company has a market cap of $173.5 billion and a P/E ratio of 110.15. Facebook also was the target of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 34,175,129 shares, a decrease of 22.3% from the January 15th total of 43,981,885 shares. Currently, 1.9% of the company’s stock are short sold. Based on an average daily volume of 67,809,086 shares, the days-to-cover ratio is presently 0.5 days.
Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $0.31 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.17 earnings per share. Facebook’s revenue was up 63.1% compared to the same quarter last year. On average, analysts predict that Facebook will post $1.25 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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