Facebook (NASDAQ:FB) had its price target lifted by analysts at Royal Bank of Canada to $250.00 in a report released on Thursday. The brokerage presently has an “outperform” rating on the social networking company’s stock. Royal Bank of Canada’s target price points to a potential upside of 29.47% from the company’s previous close.
Several other research analysts have also recently weighed in on the stock. BMO Capital Markets restated a “hold” rating and issued a $175.00 price objective (up from $170.00) on shares of Facebook in a research report on Thursday. Morgan Stanley set a $230.00 price target on shares of Facebook and gave the company a “buy” rating in a research report on Thursday. Bank of America increased their price target on shares of Facebook from $230.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday. SunTrust Banks increased their price target on shares of Facebook to $225.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Canaccord Genuity reiterated a “buy” rating and set a $240.00 price target (up from $230.00) on shares of Facebook in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, forty-three have given a buy rating and one has given a strong buy rating to the stock. Facebook presently has an average rating of “Buy” and a consensus target price of $210.79.
Facebook (NASDAQ:FB) traded up $6.20 during mid-day trading on Thursday, hitting $193.09. 53,985,545 shares of the company traded hands, compared to its average volume of 20,020,000. The company has a market capitalization of $561,080.00, a PE ratio of 35.76, a price-to-earnings-growth ratio of 1.06 and a beta of 0.68. Facebook has a one year low of $130.30 and a one year high of $195.32.
In other news, CEO Mark Zuckerberg sold 238,715 shares of Facebook stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $178.03, for a total value of $42,498,431.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Colin Stretch sold 750 shares of Facebook stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $171.60, for a total value of $128,700.00. Following the completion of the transaction, the vice president now directly owns 84,246 shares of the company’s stock, valued at approximately $14,456,613.60. The disclosure for this sale can be found here. Insiders have sold 1,564,837 shares of company stock valued at $281,533,757 in the last three months. Insiders own 17.23% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of FB. Mn Services Vermogensbeheer B.V. increased its holdings in Facebook by 517.3% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 386,211 shares of the social networking company’s stock worth $58,310,000 after buying an additional 323,648 shares in the last quarter. Ledyard National Bank increased its holdings in Facebook by 6.7% in the 2nd quarter. Ledyard National Bank now owns 34,203 shares of the social networking company’s stock worth $5,164,000 after buying an additional 2,150 shares in the last quarter. Abner Herrman & Brock LLC increased its holdings in Facebook by 12.9% in the 2nd quarter. Abner Herrman & Brock LLC now owns 29,770 shares of the social networking company’s stock worth $4,495,000 after buying an additional 3,402 shares in the last quarter. Eqis Capital Management Inc. increased its holdings in Facebook by 17.3% in the 2nd quarter. Eqis Capital Management Inc. now owns 15,296 shares of the social networking company’s stock worth $2,309,000 after buying an additional 2,251 shares in the last quarter. Finally, Vigilant Capital Management LLC increased its holdings in Facebook by 17.8% in the 2nd quarter. Vigilant Capital Management LLC now owns 991 shares of the social networking company’s stock worth $150,000 after buying an additional 150 shares in the last quarter. 57.81% of the stock is owned by hedge funds and other 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.
