Wells Fargo & Company Reiterates “Outperform” Rating for Facebook, Inc. (FB)
Facebook, Inc. (NASDAQ:FB)‘s stock had its “outperform” rating restated by equities research analysts at Wells Fargo & Company in a report released on Saturday.
FB has been the topic of a number of other reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $185.00 price target on shares of Facebook in a research note on Saturday, June 3rd. Barclays PLC reiterated an “overweight” rating and issued a $168.00 price objective (up from $160.00) on shares of Facebook in a research report on Wednesday, July 12th. Aegis reiterated a “buy” rating on shares of Facebook in a research report on Sunday, April 2nd. Vetr upgraded shares of Facebook from a “hold” rating to a “buy” rating and set a $159.91 price objective on the stock in a research report on Tuesday, June 6th. Finally, Pacific Crest reiterated an “overweight” rating and issued a $155.00 price objective on shares of Facebook in a research report on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, forty-one have issued a buy rating and four have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $167.06.
Facebook (NASDAQ:FB) traded down 0.06% during mid-day trading on Friday, hitting $164.43. 14,744,002 shares of the stock were exchanged. Facebook has a 52-week low of $113.55 and a 52-week high of $165.70. The firm has a market cap of $476.55 billion, a price-to-earnings ratio of 41.81 and a beta of 0.67. The company has a 50 day moving average price of $153.80 and a 200 day moving average price of $142.68. Facebook also was the target of some unusual options trading activity on Wednesday. Investors bought 124,719 put options on the company. This is an increase of 183% compared to the typical daily volume of 44,047 put options.
Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, May 3rd. The social networking company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.16. The business had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.83 billion. Facebook had a net margin of 36.45% and a return on equity of 20.27%. The company’s quarterly revenue was up 49.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.77 EPS. On average, analysts anticipate that Facebook will post $4.87 EPS for the current year.
In related news, insider Christopher K. Cox sold 16,000 shares of Facebook stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $164.28, for a total value of $2,628,480.00. Following the transaction, the insider now owns 196,871 shares of the company’s stock, valued at approximately $32,341,967.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jan Koum sold 3,600,000 shares of Facebook stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $160.06, for a total value of $576,216,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,376,724 shares of company stock worth $2,085,322,718. 19.08% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. State Street Corp raised its stake in shares of Facebook by 1.7% in the first quarter. State Street Corp now owns 93,365,713 shares of the social networking company’s stock worth $13,262,607,000 after buying an additional 1,536,158 shares during the last quarter. Viking Global Investors LP raised its stake in shares of Facebook by 1.2% in the fourth quarter. Viking Global Investors LP now owns 18,978,163 shares of the social networking company’s stock worth $2,183,438,000 after buying an additional 228,753 shares during the last quarter. Norges Bank acquired a new stake in shares of Facebook during the fourth quarter worth approximately $2,046,500,000. Loomis Sayles & Co. L P raised its stake in shares of Facebook by 4.0% in the fourth quarter. Loomis Sayles & Co. L P now owns 12,789,217 shares of the social networking company’s stock worth $1,471,399,000 after buying an additional 493,666 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Facebook by 5.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 7,126,937 shares of the social networking company’s stock worth $1,012,382,000 after buying an additional 349,947 shares during the last quarter. 57.63% of the stock is currently owned by hedge funds and other institutional investors.
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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