Facebook (NASDAQ:FB) had its price objective upped by equities research analysts at Aegis from $215.00 to $220.00 in a report released on Wednesday. The firm presently has a “buy” rating on the social networking company’s stock. Aegis’ target price points to a potential upside of 17.57% from the company’s current price.
Other analysts have also recently issued research reports about the stock. Goldman Sachs Group set a $205.00 target price on shares of Facebook and gave the company a “buy” rating in a research note on Friday, October 20th. Morgan Stanley set a $200.00 target price on shares of Facebook and gave the company a “buy” rating in a research note on Thursday, November 2nd. Needham & Company LLC upped their target price on shares of Facebook from $185.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. Wedbush set a $225.00 target price on shares of Facebook and gave the company a “buy” rating in a research note on Monday, October 30th. Finally, Vetr raised shares of Facebook from a “buy” rating to a “strong-buy” rating and set a $202.09 target price on the stock in a research note on Tuesday, December 19th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, forty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Facebook has a consensus rating of “Buy” and an average target price of $203.04.
Facebook (FB) opened at $187.12 on Wednesday. The company has a market cap of $543,730.00, a PE ratio of 34.78, a PEG ratio of 1.05 and a beta of 0.68. Facebook has a 52-week low of $129.52 and a 52-week high of $190.66.
In related news, Director Peter Thiel sold 160,805 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $178.90, for a total value of $28,768,014.50. Following the transaction, the director now directly owns 6,311 shares in the company, valued at $1,129,037.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher K. Cox sold 16,000 shares of the stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $180.27, for a total transaction of $2,884,320.00. Following the completion of the transaction, the insider now owns 49,816 shares in the company, valued at $8,980,330.32. The disclosure for this sale can be found here. Insiders have sold 1,564,837 shares of company stock worth $281,533,757 over the last three months. 17.23% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC raised its holdings in Facebook by 283.6% in the second quarter. Janus Henderson Group PLC now owns 11,888,149 shares of the social networking company’s stock worth $1,794,857,000 after purchasing an additional 8,788,743 shares during the period. Truepoint Inc. raised its holdings in Facebook by 16,822.1% in the third quarter. Truepoint Inc. now owns 6,137,138 shares of the social networking company’s stock worth $6,137,000 after purchasing an additional 6,100,871 shares during the period. Vanguard Group Inc. raised its holdings in Facebook by 3.3% in the second quarter. Vanguard Group Inc. now owns 162,530,760 shares of the social networking company’s stock worth $24,538,895,000 after purchasing an additional 5,151,190 shares during the period. BlackRock Inc. raised its holdings in Facebook by 3.0% in the second quarter. BlackRock Inc. now owns 138,877,313 shares of the social networking company’s stock worth $20,967,696,000 after purchasing an additional 4,032,727 shares during the period. Finally, Harding Loevner LP raised its holdings in Facebook by 229.7% in the third quarter. Harding Loevner LP now owns 4,258,885 shares of the social networking company’s stock worth $215,130,000 after purchasing an additional 2,966,978 shares during the period. Institutional investors and hedge funds own 57.81% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Aegis Increases Facebook (FB) Price Target to $220.00” was posted by American Banking and Market News and is the sole property of of American Banking and Market News. If you are accessing this story on another website, it was stolen and republished in violation of United States & international copyright & trademark legislation. The correct version of this story can be accessed at https://www.americanbankingnews.com/2018/01/31/aegis-increases-facebook-fb-price-target-to-220-00.html.
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.
