Facebook COO Sells $20,609,715 in Stock (FB)
Facebook (NASDAQ:FB) COO Sheryl Sandberg sold 283,334 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $72.74, for a total value of $20,609,715.16. Following the completion of the transaction, the chief operating officer now directly owns 6,774,625 shares in the company, valued at approximately $492,786,223. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Facebook (NASDAQ:FB) traded up 1.29% on Wednesday, hitting $73.77. The stock had a trading volume of 29,265,662 shares. Facebook has a 52 week low of $36.02 and a 52 week high of $76.74. The stock’s 50-day moving average is $69.7 and its 200-day moving average is $64.7. The company has a market cap of $191.8 billion and a price-to-earnings ratio of 77.40. Facebook also was the target of a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 37,776,463 shares, a decline of 2.9% from the July 15th total of 38,899,205 shares. Based on an average daily volume of 51,144,772 shares, the short-interest ratio is presently 0.7 days. Approximately 2.0% of the shares of the stock are short sold.
Facebook (NASDAQ:FB) last released its earnings data 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 Stifel Nicolaus initiated coverage on shares of Facebook in a research note on Wednesday. They set a “buy” rating and a $95.00 price target on the stock. Separately, analysts at Zacks upgraded shares of Facebook from a “neutral” rating to an “outperform” rating in a research note on Thursday, August 7th. They now have a $87.00 price target on the stock. Finally, 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. Seven analysts have rated the stock with a hold rating and thirty-five have given a buy rating to the company. Facebook has a consensus rating of “Buy” and an average price target of $80.08.
Facebook, Inc (NASDAQ:FB), is engaged in building products to create utility for users, developers, and advertisers.
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