Facebook (NASDAQ:FB) had its target price hoisted by equities researchers at Argus to $214.00 in a note issued to investors on Wednesday. Argus’ price target points to a potential upside of 30.59% from the company’s current price.
FB has been the subject of several other research reports. Morgan Stanley set a $215.00 target price on Facebook and gave the stock a “buy” rating in a research note on Friday, January 12th. Wedbush set a $260.00 target price on Facebook and gave the stock a “buy” rating in a research note on Friday, March 23rd. Wells Fargo reaffirmed an “outperform” rating and set a $230.00 target price (up previously from $215.00) on shares of Facebook in a research note on Monday, January 8th. Pivotal Research reaffirmed a “sell” rating and set a $147.00 target price on shares of Facebook in a research note on Monday, January 8th. Finally, SunTrust Banks raised their target price on Facebook to $240.00 and gave the stock a “buy” rating in a research note on Friday, January 12th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating, forty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $209.94.
NASDAQ FB opened at $163.87 on Wednesday. Facebook has a one year low of $139.33 and a one year high of $195.32. The company has a market cap of $483,159.63, a P/E ratio of 27.04, a price-to-earnings-growth ratio of 0.90 and a beta of 0.79.
In other Facebook news, VP David B. Fischer sold 5,587 shares of the business’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $187.66, for a total value of $1,048,456.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David M. Wehner sold 14,901 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $178.79, for a total value of $2,664,149.79. Following the completion of the sale, the chief financial officer now owns 72,512 shares in the company, valued at $12,964,420.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,812,678 shares of company stock worth $1,193,584,853. Corporate insiders own 17.23% of the company’s stock.
Several large investors have recently added to or reduced their stakes in FB. Country Trust Bank grew its position in Facebook by 550.6% during the fourth quarter. Country Trust Bank now owns 566 shares of the social networking company’s stock worth $100,000 after buying an additional 479 shares in the last quarter. Armbruster Capital Management Inc. grew its position in Facebook by 358.4% during the fourth quarter. Armbruster Capital Management Inc. now owns 573 shares of the social networking company’s stock worth $101,000 after buying an additional 448 shares in the last quarter. Taylor Hoffman Wealth Management purchased a new position in Facebook during the fourth quarter worth about $103,000. Price Wealth Management Inc. purchased a new position in Facebook during the fourth quarter worth about $105,000. Finally, Moisand Fitzgerald Tamayo LLC purchased a new position in Facebook during the third quarter worth about $111,000. Institutional investors own 58.48% of the company’s stock.
Facebook Company Profile
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.
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