Facebook Insider Sells $288,257 in Stock (FB)
Facebook (NASDAQ:FB) Insider Christopher K. Cox unloaded 4,483 shares of Facebook stock on the open market in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $64.30, for a total value of $288,256.90. Following the completion of the sale, the insider now directly owns 574,851 shares of the company’s stock, valued at approximately $36,962,919. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Facebook (NASDAQ:FB) traded up 2.62% during mid-day trading on Wednesday, hitting $67.44. 44,308,248 shares of the company’s stock traded hands. Facebook has a one year low of $24.15 and a one year high of $72.59. The stock’s 50-day moving average is $62.29 and its 200-day moving average is $61.34. The company has a market cap of $173.1 billion and a P/E ratio of 85.24.
Facebook (NASDAQ:FB) last released its earnings data 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.
FB has been the subject of a number of recent research reports. Analysts at Sterne Agee reiterated a “buy” rating on shares of Facebook in a research note on Monday. They now have a $80.00 price target on the stock. Separately, 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. Finally, 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. Seven research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $74.51.
Facebook, Inc (NASDAQ:FB) is engaged in building products to create utility for users, developers, and advertisers.
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