Facebook (NASDAQ:FB) was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, The Fly reports.
FB has been the subject of a number of other research reports. Credit Suisse Group reaffirmed a “buy” rating on shares of Facebook in a report on Wednesday, October 11th. Vetr raised shares of Facebook from a “buy” rating to a “strong-buy” rating and set a $210.43 target price for the company in a report on Wednesday. UBS Group set a $208.00 target price on shares of Facebook and gave the stock a “buy” rating in a report on Thursday, November 2nd. Wedbush set a $225.00 target price on shares of Facebook and gave the stock a “buy” rating in a report on Monday, October 30th. Finally, Deutsche Bank reaffirmed a “buy” rating on shares of Facebook in a report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, two have given a hold rating, forty-two have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $203.72.
Shares of Facebook (NASDAQ FB) traded down $7.60 during midday trading on Friday, reaching $180.17. 37,425,504 shares of the company traded hands, compared to its average volume of 14,124,000. The stock has a market cap of $522,700.00, a price-to-earnings ratio of 33.49, a PEG ratio of 1.06 and a beta of 0.68. Facebook has a 12 month low of $124.80 and a 12 month high of $188.90.
In related news, Director Peter Thiel sold 160,805 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $178.90, for a total transaction of $28,768,014.50. Following the transaction, the director now directly owns 6,311 shares of the company’s stock, valued at approximately $1,129,037.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Colin Stretch sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $175.29, for a total value of $131,467.50. The disclosure for this sale can be found here. Insiders have sold a total of 4,182,199 shares of company stock valued at $752,724,430 in the last quarter. Company insiders own 17.23% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Lenox Wealth Advisors grew its stake in shares of Facebook by 2,037.1% in the fourth quarter. Lenox Wealth Advisors now owns 748 shares of the social networking company’s stock worth $78,000 after purchasing an additional 713 shares in the last quarter. Country Trust Bank grew its stake in shares of Facebook by 550.6% in the fourth quarter. Country Trust Bank now owns 566 shares of the social networking company’s stock worth $100,000 after purchasing an additional 479 shares in the last quarter. Arcadia Investment Management Corp MI grew its stake in shares of Facebook by 20.0% in the first quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock worth $102,000 after purchasing an additional 120 shares in the last quarter. Stelac Advisory Services LLC bought a new position in shares of Facebook in the first quarter worth $106,000. Finally, Hemenway Trust Co LLC bought a new position in shares of Facebook in the fourth quarter worth $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.
