Facebook (NASDAQ:FB) had its price objective hoisted by equities research analysts at Bank of America from $230.00 to $265.00 in a report released on Thursday, The Fly reports. The brokerage currently has a “buy” rating on the social networking company’s stock. Bank of America’s target price would suggest a potential upside of 38.52% from the company’s current price.
FB has been the subject of several other research reports. Credit Suisse Group reaffirmed a “buy” rating on shares of Facebook in a research report on Wednesday, October 11th. Goldman Sachs Group set a $205.00 price objective on shares of Facebook and gave the company a “buy” rating in a research report on Friday, October 20th. Barclays increased their price objective on shares of Facebook from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, November 2nd. Needham & Company LLC increased their price objective on shares of Facebook from $185.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Finally, Wedbush set a $225.00 price objective on shares of Facebook and gave the company a “buy” rating in a research report on Monday, October 30th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, forty-three have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $206.87.
Shares of Facebook (NASDAQ:FB) traded up $4.42 during trading hours on Thursday, reaching $191.31. 12,291,180 shares of the company’s stock traded hands, compared to its average volume of 20,020,000. Facebook has a one year low of $130.30 and a one year high of $192.00. The firm 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 Facebook news, insider Michael Todd Schroepfer sold 38,017 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 381,521 shares in the company, valued at approximately $71,661,089.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $180.35, for a total value of $135,262.50. Following the sale, the vice president now owns 88,091 shares of the company’s stock, valued at $15,887,211.85. The disclosure for this sale can be found here. Insiders have sold a total of 1,564,837 shares of company stock valued at $281,533,757 over the last 90 days. Corporate insiders own 17.23% of the company’s stock.
Several institutional investors have recently made changes to their positions in FB. Country Trust Bank lifted its holdings in shares of Facebook by 550.6% during the 4th quarter. Country Trust Bank now owns 566 shares of the social networking company’s stock valued at $100,000 after buying an additional 479 shares during the last quarter. Price Wealth Management Inc. acquired a new stake in shares of Facebook during the 4th quarter valued at about $105,000. D. Scott Neal Inc. lifted its holdings in shares of Facebook by 1,358.0% during the 2nd quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock valued at $110,000 after buying an additional 679 shares during the last quarter. Moisand Fitzgerald Tamayo LLC bought a new position in shares of Facebook in the 3rd quarter valued at approximately $111,000. Finally, Cerebellum GP LLC bought a new position in shares of Facebook in the 4th quarter valued at approximately $122,000. Institutional investors and hedge funds 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.
