Facebook VP David B. Fischer Sells 36,000 Shares (FB)
Facebook (NASDAQ:FB) VP David B. Fischer sold 36,000 shares of Facebook stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $65.58, for a total value of $2,360,880.00. Following the completion of the transaction, the vice president now directly owns 399,199 shares of the company’s stock, valued at approximately $26,179,470. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Facebook (NASDAQ:FB) traded down 2.27% on Thursday, hitting $64.2901. The stock had a trading volume of 55,729,828 shares. Facebook has a 52 week low of $23.26 and a 52 week high of $72.59. The stock has a 50-day moving average of $60.80 and a 200-day moving average of $60.15. The company has a market cap of $165.0 billion and a P/E ratio of 85.32. Facebook also was the recipient of a large decline in short interest during 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. Approximately 2.3% of the company’s stock are sold short. Based on an average daily trading volume, of 48,822,843 shares, the short-interest ratio is presently 0.9 days.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.34 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was up 71.6% on a year-over-year basis. On average, analysts predict that Facebook will post $1.43 earnings per share for the current fiscal year.
A number of research firms have recently commented on FB. 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 investment analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $73.89.
Facebook, Inc (NASDAQ:FB) is engaged in building products to create utility for users, developers, and advertisers.
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