Facebook CTO Sells $1,270,600 in Stock (FB)
Facebook (NASDAQ:FB) CTO Michael Todd Schroepfer sold 20,000 shares of the company’s stock on the open market in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $63.53, for a total value of $1,270,600.00. Following the completion of the transaction, the chief technology officer now directly owns 182,485 shares in the company, valued at approximately $11,593,272. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Facebook in a research note on Wednesday, May 28th. They now have a $67.00 price target on the stock. Separately, analysts at Evercore Partners upgraded shares of Facebook from an “equal weight” rating to an “overweight” rating in a research note on Thursday, May 22nd. They now have a $75.00 price target on the stock, up previously from $69.00. They noted that the move was a valuation call. Finally, analysts at Cantor Fitzgerald reiterated a “buy” rating on shares of Facebook in a research note on Tuesday, May 20th. Seven analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the stock. Facebook has a consensus rating of “Buy” and an average price target of $73.89.
Shares of Facebook (NASDAQ:FB) traded up 0.02% on Wednesday, hitting $65.781. The stock had a trading volume of 44,241,928 shares. Facebook has a 52-week low of $23.26 and a 52-week high of $72.59. The stock’s 50-day moving average is $60.72 and its 200-day moving average is $60.12. The company has a market cap of $168.8 billion and a price-to-earnings ratio of 85.30. Facebook also saw a significant decline in short interest in the month of May. As of May 30th, there was short interest totalling 44,556,753 shares, a decline of 3.4% from the May 15th total of 46,127,937 shares. Based on an average daily volume of 48,822,843 shares, the days-to-cover ratio is currently 0.9 days. Approximately 2.3% of the company’s shares are short sold.
Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, April 23rd. The company reported $0.34 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.24 by $0.10. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter in the prior year, the company posted $0.12 earnings per share. The company’s quarterly revenue was up 71.6% on a year-over-year basis. Analysts expect that Facebook will post $1.43 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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