Facebook (NASDAQ:FB) had its price objective upped by SunTrust Banks to $240.00 in a research report issued on Friday, The Fly reports. The firm presently has a “buy” rating on the social networking company’s stock. SunTrust Banks’ price objective points to a potential upside of 33.21% from the company’s current price.
Several other brokerages have also recently issued reports on FB. JPMorgan Chase & Co. set a $230.00 price target on shares of Facebook and gave the stock a “buy” rating in a research report on Monday. Pivotal Research reaffirmed a “sell” rating and issued a $147.00 target price on shares of Facebook in a report on Monday. Credit Suisse Group raised their target price on shares of Facebook from $230.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday. Wells Fargo & Co restated an “outperform” rating and set a $230.00 target price (up from $215.00) on shares of Facebook in a research report on Monday. Finally, BidaskClub raised Facebook from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, forty-two have assigned a buy rating and three have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $203.72.
Facebook (FB) traded down $7.60 during trading hours on Friday, reaching $180.17. 37,425,504 shares of the company’s stock traded hands, compared to its average volume of 14,124,000. Facebook has a 12 month low of $124.80 and a 12 month high of $188.90. The stock has a market cap of $522,700.00, a P/E ratio of 33.49, a PEG ratio of 1.06 and a beta of 0.68.
In other Facebook news, insider Michael Todd Schroepfer sold 38,017 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $187.83, for a total transaction of $7,140,733.11. Following the transaction, the insider now owns 381,521 shares of the company’s stock, valued at $71,661,089.43. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Colin Stretch sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $172.43, for a total value of $129,322.50. Following the transaction, the vice president now directly owns 89,916 shares in the company, valued at approximately $15,504,215.88. The disclosure for this sale can be found here. Insiders sold a total of 4,182,199 shares of company stock valued at $752,724,430 in the last quarter. Corporate insiders own 17.23% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Lenox Wealth Advisors grew its holdings in Facebook by 2,037.1% during the 4th quarter. Lenox Wealth Advisors now owns 748 shares of the social networking company’s stock worth $78,000 after acquiring an additional 713 shares during the period. Country Trust Bank grew its holdings in Facebook by 550.6% during the 4th quarter. Country Trust Bank now owns 566 shares of the social networking company’s stock worth $100,000 after acquiring an additional 479 shares during the period. Arcadia Investment Management Corp MI grew its holdings in Facebook by 20.0% during the 1st quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock worth $102,000 after acquiring an additional 120 shares during the period. Stelac Advisory Services LLC acquired a new stake in Facebook during the 1st quarter worth about $106,000. Finally, Hemenway Trust Co LLC acquired a new stake in Facebook during the 4th quarter worth about $109,000. 57.73% of the stock is currently owned by institutional investors.
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About Facebook
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.
