Facebook (NASDAQ:FB) received a $230.00 price target from stock analysts at JPMorgan Chase & Co. in a note issued to investors on Monday. The firm currently has a “buy” rating on the social networking company’s stock. JPMorgan Chase & Co.’s price objective suggests a potential upside of 22.37% from the company’s current price.
Other analysts have also recently issued reports about the company. Credit Suisse Group reissued a “positive” rating on shares of Facebook in a report on Monday. Wells Fargo & Co reissued an “outperform” rating and set a $215.00 price objective (up from $185.00) on shares of Facebook in a report on Wednesday, September 27th. Royal Bank of Canada reissued a “buy” rating and set a $195.00 price objective on shares of Facebook in a report on Friday, October 13th. Wedbush reissued an “outperform” rating and set a $230.00 price objective (up from $225.00) on shares of Facebook in a report on Thursday, November 2nd. Finally, Macquarie set a $205.00 price objective on Facebook and gave the stock a “buy” rating in a report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, forty-four have assigned a buy rating and two have given a strong buy rating to the stock. Facebook has an average rating of “Buy” and an average price target of $202.32.
Shares of Facebook (NASDAQ:FB) traded up $1.10 during midday trading on Monday, reaching $187.95. 6,390,000 shares of the company traded hands, compared to its average volume of 16,450,000. The firm has a market cap of $546,150.00, a P/E ratio of 34.93, a price-to-earnings-growth ratio of 1.06 and a beta of 0.68. Facebook has a 1-year low of $120.03 and a 1-year high of $188.90.
In other news, VP Colin Stretch sold 750 shares of the stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $176.23, for a total value of $132,172.50. Following the completion of the sale, the vice president now owns 82,096 shares of the company’s stock, valued at approximately $14,467,778.08. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP David B. Fischer sold 4,699 shares of the stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $171.53, for a total value of $806,019.47. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,552,712 shares of company stock valued at $815,990,564. Insiders own 17.23% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of FB. Janus Henderson Group PLC raised its stake in Facebook by 283.6% in the 2nd quarter. Janus Henderson Group PLC now owns 11,888,149 shares of the social networking company’s stock valued at $1,794,857,000 after acquiring an additional 8,788,743 shares during the period. Truepoint Inc. increased its position in Facebook by 16,822.1% during the 3rd quarter. Truepoint Inc. now owns 6,137,138 shares of the social networking company’s stock worth $6,137,000 after buying an additional 6,100,871 shares during the period. Vanguard Group Inc. increased its position in Facebook by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 162,530,760 shares of the social networking company’s stock worth $24,538,895,000 after buying an additional 5,151,190 shares during the period. BlackRock Inc. increased its position in Facebook by 3.0% during the 2nd quarter. BlackRock Inc. now owns 138,877,313 shares of the social networking company’s stock worth $20,967,696,000 after buying an additional 4,032,727 shares during the period. Finally, Harding Loevner LP increased its position in Facebook by 229.7% during the 3rd quarter. Harding Loevner LP now owns 4,258,885 shares of the social networking company’s stock worth $215,130,000 after buying an additional 2,966,978 shares during the period. Institutional investors and hedge funds own 57.73% 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.
