Insider Selling: Facebook, Inc. (NASDAQ:FB) Insider Sells 16,000 Shares of Stock
Facebook, Inc. (NASDAQ:FB) insider Christopher K. Cox sold 16,000 shares of the stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $149.93, for a total value of $2,398,880.00. Following the completion of the transaction, the insider now directly owns 184,965 shares of the company’s stock, valued at approximately $27,731,802.45. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Shares of Facebook, Inc. (NASDAQ FB) traded up 1.17% during midday trading on Tuesday, hitting $155.30. 13,664,119 shares of the stock were exchanged. Facebook, Inc. has a 12 month low of $113.55 and a 12 month high of $156.50. The company has a market cap of $450.09 billion, a PE ratio of 39.49 and a beta of 0.67. The stock has a 50 day moving average price of $151.14 and a 200-day moving average price of $138.83.
Facebook (NASDAQ:FB) last announced its quarterly earnings results on Wednesday, May 3rd. The social networking company reported $1.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.16. Facebook had a net margin of 36.45% and a return on equity of 20.27%. The firm had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.83 billion. During the same period last year, the business earned $0.77 EPS. Facebook’s revenue for the quarter was up 49.2% compared to the same quarter last year. On average, analysts predict that Facebook, Inc. will post $4.85 EPS for the current year.
A number of large investors have recently made changes to their positions in the company. CenturyLink Investment Management Co increased its position in shares of Facebook by 112.0% in the second quarter. CenturyLink Investment Management Co now owns 29,230 shares of the social networking company’s stock valued at $4,413,000 after buying an additional 15,440 shares during the last quarter. Carlson Capital Management acquired a new position in shares of Facebook during the second quarter valued at about $416,000. Pure Financial Advisors Inc. acquired a new position in shares of Facebook during the second quarter valued at about $296,000. Johanson Financial Advisors Inc. increased its position in shares of Facebook by 6.2% in the second quarter. Johanson Financial Advisors Inc. now owns 4,185 shares of the social networking company’s stock valued at $636,000 after buying an additional 246 shares during the last quarter. Finally, Fulton Bank N.A. increased its position in shares of Facebook by 2.1% in the second quarter. Fulton Bank N.A. now owns 59,491 shares of the social networking company’s stock valued at $8,982,000 after buying an additional 1,205 shares during the last quarter. Hedge funds and other institutional investors own 57.64% of the company’s stock.
FB has been the subject of several research reports. Pacific Crest reissued an “overweight” rating and issued a $155.00 target price on shares of Facebook in a research report on Monday, April 24th. Needham & Company LLC increased their target price on Facebook from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Wedbush set a $185.00 target price on Facebook and gave the stock a “buy” rating in a research report on Thursday, May 4th. Morgan Stanley restated a “buy” rating and issued a $175.00 price target on shares of Facebook in a research note on Thursday, May 4th. Finally, Nomura set a $165.00 price target on Facebook and gave the stock a “buy” rating in a research note on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, forty have assigned a buy rating and three have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $165.57.
Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
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