Insider Selling: Christopher K. Cox Sells 5,437 Shares of Facebook Stock (FB)
Facebook (NASDAQ:FB) Insider Christopher K. Cox sold 5,437 shares of the stock on the open market in a transaction dated Monday, July 7th. The stock was sold at an average price of $66.28, for a total transaction of $360,364.36. Following the sale, the insider now directly owns 574,851 shares of the company’s stock, valued at approximately $38,101,124. The sale was disclosed in a document filed with the SEC, which is available at this link.
A number of research firms have recently commented on FB. Analysts at Tigress Financial downgraded shares of Facebook from a “buy” rating to a “neutral” rating in a research note on Wednesday. Separately, analysts at Pivotal Research raised their price target on shares of Facebook from $74.00 to $81.00 in a research note on Wednesday. Finally, analysts at Goldman Sachs reiterated a “buy” rating on shares of Facebook in a research note on Thursday, July 3rd. Eight equities research analysts have rated the stock with a hold rating and thirty-three have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $74.71.
Facebook (NASDAQ:FB) traded up 3.52% during mid-day trading on Wednesday, hitting $64.97. The stock had a trading volume of 51,431,584 shares. Facebook has a 52-week low of $25.45 and a 52-week high of $72.59. The stock’s 50-day moving average is $64.47 and its 200-day moving average is $62.29. The company has a market cap of $166.7 billion and a P/E ratio of 81.40.
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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