Vetr Downgrades Facebook (FB) to Buy
Facebook (NASDAQ:FB) was downgraded by equities research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report issued on Thursday. They presently have a $198.52 target price on the social networking company’s stock. Vetr‘s price target would indicate a potential upside of 10.20% from the stock’s current price.
Several other brokerages have also issued reports on FB. Zacks Investment Research lowered Facebook from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Credit Suisse Group reiterated a “buy” rating on shares of Facebook in a research note on Wednesday, October 11th. UBS set a $208.00 price objective on Facebook and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Wedbush set a $225.00 price objective on Facebook and gave the stock a “buy” rating in a research report on Monday, October 30th. Finally, Deutsche Bank restated a “buy” rating on shares of Facebook in a research report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, two have given a hold rating, forty-three have given a buy rating and two have assigned a strong buy rating to the company. Facebook has an average rating of “Buy” and an average target price of $200.73.
Shares of Facebook (FB) traded up $4.08 on Thursday, hitting $180.14. The stock had a trading volume of 20,361,248 shares, compared to its average volume of 16,960,707. Facebook has a one year low of $114.77 and a one year high of $184.25. The company has a market cap of $502,210.81, a price-to-earnings ratio of 33.30, a price-to-earnings-growth ratio of 1.10 and a beta of 0.69.
In related news, VP Colin Stretch sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $173.58, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 249,527 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $170.32, for a total value of $42,499,438.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,179,772 shares of company stock worth $921,968,896. 17.23% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. BP PLC increased its stake in Facebook by 6.3% in the second quarter. BP PLC now owns 269,000 shares of the social networking company’s stock valued at $30,741,000 after acquiring an additional 16,000 shares during the last quarter. HCR Wealth Advisors bought a new position in Facebook in the fourth quarter valued at $3,091,000. Ballentine Partners LLC increased its stake in Facebook by 13.8% in the fourth quarter. Ballentine Partners LLC now owns 9,117 shares of the social networking company’s stock valued at $955,000 after acquiring an additional 1,105 shares during the last quarter. Nwam LLC increased its stake in Facebook by 31.6% in the third quarter. Nwam LLC now owns 18,678 shares of the social networking company’s stock valued at $2,396,000 after acquiring an additional 4,481 shares during the last quarter. Finally, Saturna Capital increased its stake in Facebook by 32.4% in the third quarter. Saturna Capital now owns 43,145 shares of the social networking company’s stock valued at $3,879,000 after acquiring an additional 10,549 shares during the last quarter. Institutional investors and hedge funds own 57.86% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This piece was first posted by American Banking News and is owned by of American Banking News. If you are reading this piece on another publication, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2017/12/07/vetr-downgrades-facebook-fb-to-buy.html.
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.
To view Vetr’s full report, visit Vetr’s official website.
Receive News & Ratings for Facebook Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook Inc and related companies with MarketBeat.com's FREE daily email newsletter.