Facebook CTO Sells $1,448,400 in Stock (FB)
Facebook (NASDAQ:FB) CTO Michael Todd Schroepfer sold 20,000 shares of Facebook stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $72.42, for a total value of $1,448,400.00. Following the transaction, the chief technology officer now directly owns 228,997 shares of the company’s stock, valued at approximately $16,583,963. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Facebook (NASDAQ:FB) traded down 1.12% on Tuesday, hitting $72.69. The stock had a trading volume of 34,986,148 shares. Facebook has a one year low of $36.02 and a one year high of $76.74. The stock’s 50-day moving average is $68.35 and its 200-day moving average is $64.13. The company has a market cap of $189.0 billion and a price-to-earnings ratio of 78.12.
Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, July 23rd. The company reported $0.42 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.32 by $0.10. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter last year, the company posted $0.19 earnings per share. Facebook’s revenue was up 60.5% compared to the same quarter last year. On average, analysts predict that Facebook will post $1.62 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at S&P Equity Research reiterated an “average” rating on shares of Facebook in a research note on Friday, July 25th. They now have a $3.00 price target on the stock. Separately, analysts at Nomura reiterated a “buy” rating on shares of Facebook in a research note on Thursday, July 24th. They now have a $82.00 price target on the stock, up previously from $78.00. Finally, analysts at Raymond James reiterated an “outperform” rating on shares of Facebook in a research note on Thursday, July 24th. They now have a $80.00 price target on the stock, up previously from $77.00. Eight research analysts have rated the stock with a hold rating and thirty-four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $79.11.
Facebook, Inc (NASDAQ:FB), is engaged in building products to create utility for users, developers, and advertisers.
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