Facebook, Inc. (NASDAQ:FB) Downgraded by Pivotal Research
Facebook, Inc. (NASDAQ:FB) was downgraded by investment analysts at Pivotal Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.
Other equities analysts have also recently issued reports about the stock. UBS AG reissued a “buy” rating and issued a $165.00 target price on shares of Facebook in a research note on Wednesday, April 19th. Barclays PLC reissued a “neutral” rating on shares of Facebook in a research note on Friday, April 14th. Robert W. Baird reissued an “outperform” rating and issued a $163.00 target price on shares of Facebook in a research note on Thursday, May 4th. Vetr raised shares of Facebook from a “hold” rating to a “buy” rating and set a $154.73 target price for the company in a research note on Wednesday, May 17th. Finally, BidaskClub raised shares of Facebook from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, forty-two have assigned a buy rating and four have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $180.91.
Shares of Facebook (FB) traded down 0.44% during mid-day trading on Tuesday, hitting $171.23. 14,393,524 shares of the stock were exchanged. Facebook has a 12-month low of $113.55 and a 12-month high of $175.49. The company has a market capitalization of $497.29 billion, a PE ratio of 38.32 and a beta of 0.70. The firm has a 50-day moving average price of $159.02 and a 200 day moving average price of $145.93.
Facebook (NASDAQ:FB) last released its earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.19. Facebook had a net margin of 38.84% and a return on equity of 21.73%. The business had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same period last year, the business earned $0.97 earnings per share. The firm’s revenue was up 44.8% on a year-over-year basis. On average, equities research analysts expect that Facebook will post $5.33 earnings per share for the current year.
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In other Facebook news, Director Susan Desmond-Hellmann sold 209 shares of the business’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $144.67, for a total transaction of $30,236.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher K. Cox sold 16,000 shares of the business’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $148.03, for a total value of $2,368,480.00. Following the transaction, the insider now directly owns 221,328 shares of the company’s stock, valued at approximately $32,763,183.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,166,363 shares of company stock valued at $1,604,306,533. Insiders own 19.08% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in FB. Norges Bank purchased a new stake in Facebook during the fourth quarter valued at $2,046,500,000. Harbour Capital Advisors LLC boosted its stake in Facebook by 15,047.5% in the second quarter. Harbour Capital Advisors LLC now owns 2,540,691 shares of the social networking company’s stock valued at $16,828,000 after buying an additional 2,523,918 shares during the period. State Street Corp boosted its stake in Facebook by 1.7% in the first quarter. State Street Corp now owns 93,365,713 shares of the social networking company’s stock valued at $13,262,607,000 after buying an additional 1,536,158 shares during the period. HPM Partners LLC purchased a new stake in Facebook during the first quarter valued at $195,602,000. Finally, Jennison Associates LLC boosted its stake in Facebook by 6.4% in the second quarter. Jennison Associates LLC now owns 20,336,932 shares of the social networking company’s stock valued at $3,070,470,000 after buying an additional 1,219,412 shares during the period. Institutional investors own 57.60% of the company’s stock.
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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