Insider Selling: Sheryl Sandberg Unloads 283,334 Shares of Facebook Stock (FB)
Facebook (NASDAQ:FB) COO Sheryl Sandberg sold 283,334 shares of the stock on the open market in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $64.64, for a total value of $18,314,709.76. Following the completion of the transaction, the chief operating officer now directly owns 7,588,872 shares of the company’s stock, valued at approximately $490,544,686. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Facebook (NASDAQ:FB) traded down 1.92% during mid-day trading on Thursday, hitting $64.3415. The stock had a trading volume of 34,245,184 shares. Facebook has a 52 week low of $23.38 and a 52 week high of $72.59. The stock’s 50-day moving average is $61.67 and its 200-day moving average is $60.7. The company has a market cap of $165.1 billion and a price-to-earnings ratio of 85.08. Facebook also saw a large drop in short interest during the month of May. As of May 30th, there was short interest totalling 44,556,753 shares, a drop of 3.4% from the May 15th total of 46,127,937 shares. Approximately 2.3% of the shares of the company are short sold. 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 released its earnings data 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.
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 investment analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company’s stock. The stock currently has an average 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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