Facebook, Inc. (FB) Given a $215.00 Price Target by Wells Fargo & Company Analysts
Facebook, Inc. (NASDAQ:FB) received a $215.00 target price from equities research analysts at Wells Fargo & Company in a report released on Friday. The brokerage presently has a “buy” rating on the social networking company’s stock. Wells Fargo & Company’s target price indicates a potential upside of 25.55% from the company’s previous close.
A number of other brokerages have also recently issued reports on FB. FBN Securities reiterated an “outperform” rating and issued a $120.00 target price on shares of Facebook in a report on Wednesday, September 27th. Citigroup Inc. reissued a “buy” rating and issued a $200.00 price target on shares of Facebook in a research report on Wednesday, September 27th. Cowen and Company reissued an “outperform” rating and issued a $195.00 price target on shares of Facebook in a research report on Thursday, August 10th. KeyCorp reissued a “buy” rating and issued a $200.00 price target on shares of Facebook in a research report on Wednesday. Finally, Pivotal Research lowered Facebook from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating, forty-three have given a buy rating and three have issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $185.38.
Shares of Facebook (NASDAQ FB) traded down 0.37% during mid-day trading on Friday, reaching $170.60. 4,463,430 shares of the company’s stock traded hands. The company has a market cap of $495.46 billion, a price-to-earnings ratio of 38.18 and a beta of 0.70. The company has a 50 day moving average of $169.79 and a 200 day moving average of $156.90. Facebook has a 12 month low of $113.55 and a 12 month high of $175.49.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.19. The firm had revenue of $9.32 billion for the quarter, compared to analysts’ expectations of $9.19 billion. Facebook had a return on equity of 21.73% and a net margin of 38.84%. The company’s revenue for the quarter was up 44.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.97 EPS. Analysts expect that Facebook will post $5.37 earnings per share for the current fiscal year.
In related news, VP Colin Stretch sold 750 shares of the company’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $170.10, for a total transaction of $127,575.00. Following the completion of the sale, the vice president now owns 92,191 shares in the company, valued at $15,681,689.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David M. Wehner sold 15,470 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $167.16, for a total value of $2,585,965.20. Following the sale, the chief financial officer now owns 62,375 shares of the company’s stock, valued at approximately $10,426,605. The disclosure for this sale can be found here. Insiders sold 12,900,933 shares of company stock valued at $2,118,781,506 in the last 90 days. Company insiders own 19.08% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Mutual of America Capital Management LLC increased its position in Facebook by 2.4% during the first quarter. Mutual of America Capital Management LLC now owns 284,167 shares of the social networking company’s stock valued at $40,366,000 after acquiring an additional 6,740 shares during the last quarter. ING Groep NV increased its position in Facebook by 6.9% in the second quarter. ING Groep NV now owns 589,751 shares of the social networking company’s stock worth $89,041,000 after buying an additional 37,822 shares in the last quarter. Grand Jean Capital Management Inc. increased its position in Facebook by 14.3% in the first quarter. Grand Jean Capital Management Inc. now owns 127,250 shares of the social networking company’s stock worth $18,076,000 after buying an additional 15,910 shares in the last quarter. Segment Wealth Management LLC increased its position in Facebook by 157.5% in the first quarter. Segment Wealth Management LLC now owns 7,333 shares of the social networking company’s stock worth $1,042,000 after buying an additional 4,485 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. purchased a new stake in Facebook in the first quarter worth about $94,601,000. Institutional investors own 57.26% of the company’s stock.
Facebook Company Profile
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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