Insider Selling: Facebook Insider Unloads 11,371 Shares of Stock (FB)
Facebook (NASDAQ:FB) Insider Christopher K. Cox sold 11,371 shares of the stock on the open market in a transaction dated Monday, August 4th. The stock was sold at an average price of $72.39, for a total transaction of $823,146.69. Following the completion of the transaction, the insider now directly owns 574,851 shares in the company, valued at approximately $41,613,464. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on FB shares. 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 assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $79.11.
Shares of 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 1-year low of $36.02 and a 1-year high of $76.74. The stock has a 50-day moving average of $68.35 and a 200-day moving average of $64.13. The company has a market cap of $189.0 billion and a P/E ratio of 78.12.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $0.42 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was up 60.5% on a year-over-year basis. On average, analysts predict that Facebook will post $1.62 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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