Facebook (NASDAQ:FB) had its price target raised by investment analysts at SunTrust Banks to $225.00 in a research note issued to investors on Thursday, The Fly reports. The firm currently has a “buy” rating on the social networking company’s stock. SunTrust Banks’ price objective indicates a potential upside of 17.61% from the stock’s previous close.
FB has been the subject of a number of other research reports. Credit Suisse Group reaffirmed an “outperform” rating and set a $232.00 target price (up previously from $230.00) on shares of Facebook in a research note on Monday, January 8th. Stifel Nicolaus downgraded shares of Facebook from a “buy” rating to a “hold” rating in a research report on Friday, January 12th. Barclays raised their price target on shares of Facebook to $225.00 and gave the company an “overweight” rating in a research report on Thursday. Wells Fargo & Co set a $215.00 price target on shares of Facebook and gave the company a “buy” rating in a research report on Friday, October 6th. Finally, Atlantic Securities set a $215.00 price target on shares of Facebook and gave the company a “buy” rating in a research report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, forty-three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $206.87.
Shares of Facebook (NASDAQ FB) traded up $4.42 during midday trading on Thursday, hitting $191.31. 12,291,180 shares of the company’s stock were exchanged, compared to its average volume of 20,020,000. Facebook has a fifty-two week low of $130.30 and a fifty-two week high of $192.00. The company has a market capitalization of $553,990.00, a P/E ratio of 35.43, a price-to-earnings-growth ratio of 1.06 and a beta of 0.68.
In other news, Director Jan Koum sold 594,246 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $179.35, for a total value of $106,578,020.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Colin Stretch sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $180.35, for a total transaction of $135,262.50. Following the transaction, the vice president now owns 88,091 shares of the company’s stock, valued at approximately $15,887,211.85. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,564,837 shares of company stock valued at $281,533,757. 17.23% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of FB. Hartford Financial Management Inc. increased its stake in Facebook by 1.1% during the 2nd quarter. Hartford Financial Management Inc. now owns 1,488 shares of the social networking company’s stock valued at $224,000 after purchasing an additional 16 shares in the last quarter. Regal Investment Advisors LLC increased its stake in Facebook by 0.3% during the 2nd quarter. Regal Investment Advisors LLC now owns 5,800 shares of the social networking company’s stock valued at $876,000 after purchasing an additional 18 shares in the last quarter. Halbert Hargrove Russell LLC increased its stake in Facebook by 0.5% during the 2nd quarter. Halbert Hargrove Russell LLC now owns 3,485 shares of the social networking company’s stock valued at $526,000 after purchasing an additional 19 shares in the last quarter. Dumont & Blake Investment Advisors LLC increased its stake in Facebook by 2.1% during the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 1,470 shares of the social networking company’s stock valued at $222,000 after purchasing an additional 30 shares in the last quarter. Finally, Aspen Investment Management Inc increased its stake in Facebook by 0.4% during the 2nd quarter. Aspen Investment Management Inc now owns 6,915 shares of the social networking company’s stock valued at $1,044,000 after purchasing an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 57.81% of the company’s stock.
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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.
