Facebook (NASDAQ:FB) had its price target hoisted by stock analysts at Credit Suisse Group from $230.00 to $232.00 in a research report issued to clients and investors on Monday. The firm presently has an “outperform” rating on the social networking company’s stock. Credit Suisse Group’s price target would suggest a potential upside of 22.93% from the company’s previous close.
A number of other analysts also recently commented on the company. Cowen reiterated a “buy” rating and set a $220.00 target price on shares of Facebook in a research report on Thursday. Citigroup reiterated a “buy” rating and set a $200.00 target price on shares of Facebook in a research report on Wednesday, September 27th. Zacks Investment Research upgraded Facebook from a “hold” rating to a “buy” rating and set a $198.00 target price on the stock in a research report on Tuesday, January 2nd. Canaccord Genuity reiterated a “buy” rating and set a $230.00 target price on shares of Facebook in a research report on Tuesday, January 2nd. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $190.00 target price on shares of Facebook in a research report on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, forty-four have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $201.88.
Shares of Facebook (NASDAQ:FB) traded up $1.87 during mid-day trading on Monday, reaching $188.72. The company had a trading volume of 3,600,000 shares, compared to its average volume of 16,450,000. Facebook has a 52-week low of $120.03 and a 52-week high of $188.88. The firm has a market capitalization of $548,380.00, a price-to-earnings ratio of 35.08, a PEG ratio of 1.06 and a beta of 0.68.
In other news, insider Christopher K. Cox sold 16,000 shares of the stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $175.20, for a total value of $2,803,200.00. Following the completion of the sale, the insider now owns 172,871 shares in the company, valued at $30,286,999.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael Todd Schroepfer sold 38,058 shares of the stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $171.51, for a total value of $6,527,327.58. The disclosure for this sale can be found here. Insiders have sold 4,552,712 shares of company stock valued at $815,990,564 over the last 90 days. 17.23% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of FB. Private Asset Management Inc. bought a new position in Facebook during the 4th quarter worth approximately $254,000. Abner Herrman & Brock LLC lifted its holdings in shares of Facebook by 4.8% in the 4th quarter. Abner Herrman & Brock LLC now owns 61,012 shares of the social networking company’s stock worth $10,766,000 after purchasing an additional 2,818 shares during the last quarter. QUANTRES ASSET MANAGEMENT Ltd bought a new stake in shares of Facebook in the 4th quarter worth approximately $1,429,000. Washington Trust Bank lifted its holdings in shares of Facebook by 1.7% in the 4th quarter. Washington Trust Bank now owns 63,141 shares of the social networking company’s stock worth $11,142,000 after purchasing an additional 1,073 shares during the last quarter. Finally, Neville Rodie & Shaw Inc. lifted its holdings in shares of Facebook by 6.9% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 45,352 shares of the social networking company’s stock worth $8,003,000 after purchasing an additional 2,945 shares during the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.
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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.
