Insider Selling: Christopher K. Cox Unloads 14,267 Shares of Facebook Stock (FB)
Facebook (NASDAQ:FB) Insider Christopher K. Cox sold 14,267 shares of Facebook stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $64.11, for a total value of $914,657.37. Following the completion of the sale, the insider now directly owns 579,334 shares in the company, valued at approximately $37,141,103. The transaction was disclosed in a filing with the SEC, which is available at this link.
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 equities research analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the company. Facebook presently has an average rating of “Buy” and an average target price of $73.89.
Facebook (NASDAQ:FB) traded up 0.33% on Tuesday, hitting $64.40. The stock had a trading volume of 27,714,816 shares. Facebook has a 1-year low of $23.38 and a 1-year high of $72.59. The stock’s 50-day moving average is $61. and its 200-day moving average is $60.66. The company has a market cap of $165.3 billion and a P/E ratio of 83.26. Facebook also saw a large decline in short interest in 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 trading volume of 48,822,843 shares, the short-interest ratio is currently 0.9 days.
Facebook (NASDAQ:FB) last announced its 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.
Facebook, Inc (NASDAQ:FB) is engaged in building products to create utility for users, developers, and advertisers.
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