Evercore ISI Initiates Coverage on Facebook (FB)
Investment analysts at Evercore ISI started coverage on shares of Facebook (NASDAQ:FB) in a note issued to investors on Tuesday, The Fly reports. The brokerage set an “outperform” rating on the social networking company’s stock.
Several other analysts have also commented on the company. Pivotal Research reaffirmed a “sell” rating and set a $140.00 target price on shares of Facebook in a report on Wednesday, September 6th. MKM Partners reaffirmed a “buy” rating and set a $200.00 target price (up from $180.00) on shares of Facebook in a report on Monday, August 7th. Mizuho reaffirmed a “buy” rating on shares of Facebook in a report on Monday, August 7th. Vetr raised Facebook from a “hold” rating to a “buy” rating and set a $174.15 target price on the stock in a report on Monday, August 21st. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and set a $215.00 target price (up from $185.00) on shares of Facebook in a report on Wednesday, September 27th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, forty-two have assigned a buy rating and three have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $199.18.
Shares of Facebook (NASDAQ:FB) traded up $1.36 during mid-day trading on Tuesday, hitting $172.83. The stock had a trading volume of 20,169,411 shares, compared to its average volume of 16,932,068. The firm has a market capitalization of $502,700.00, a price-to-earnings ratio of 33.74, a PEG ratio of 1.11 and a beta of 0.69. Facebook has a fifty-two week low of $114.77 and a fifty-two week high of $184.25.
In related news, VP Colin Stretch sold 750 shares of Facebook stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $173.58, for a total transaction of $130,185.00. Following the transaction, the vice president now owns 94,091 shares in the company, valued at $16,332,315.78. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP David B. Fischer sold 16,621 shares of Facebook stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $183.51, for a total value of $3,050,119.71. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,195,022 shares of company stock worth $924,578,276. Company insiders own 17.23% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. D. Scott Neal Inc. raised its position in Facebook by 1,358.0% in the second quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock valued at $110,000 after purchasing an additional 679 shares during the period. Moisand Fitzgerald Tamayo LLC purchased a new stake in Facebook in the third quarter valued at $111,000. Farmers & Merchants Investments Inc. raised its position in Facebook by 4.4% in the second quarter. Farmers & Merchants Investments Inc. now owns 809 shares of the social networking company’s stock valued at $122,000 after purchasing an additional 34 shares during the period. Pacific Center for Financial Services raised its position in Facebook by 10.7% in the first quarter. Pacific Center for Financial Services now owns 910 shares of the social networking company’s stock valued at $129,000 after purchasing an additional 88 shares during the period. Finally, Mountain Capital Investment Advisors Inc purchased a new stake in Facebook in the second quarter valued at $138,000. Hedge funds and other institutional investors own 57.86% 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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