Facebook (NASDAQ:FB) Downgraded by BidaskClub to “Sell”

BidaskClub cut shares of Facebook (NASDAQ:FB) from a hold rating to a sell rating in a report issued on Tuesday, BidAskClub reports.

Several other research analysts have also commented on FB. Pivotal Research reissued a buy rating and issued a $225.00 price objective (up previously from $220.00) on shares of Facebook in a research note on Thursday, July 25th. JMP Securities raised their price objective on shares of Facebook from $220.00 to $250.00 and gave the stock an outperform rating in a report on Thursday, July 25th. Oppenheimer lifted their target price on shares of Facebook from $225.00 to $230.00 and gave the company an outperform rating in a report on Thursday, July 25th. Royal Bank of Canada reaffirmed a buy rating and issued a $260.00 target price on shares of Facebook in a report on Thursday, July 25th. Finally, Wedbush reiterated an outperform rating and issued a $220.00 price objective on shares of Facebook in a research report on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and forty-three have given a buy rating to the company. Facebook presently has an average rating of Buy and a consensus target price of $220.92.

Shares of NASDAQ FB traded up $1.07 during mid-day trading on Tuesday, reaching $180.45. The company’s stock had a trading volume of 9,202,851 shares, compared to its average volume of 17,125,270. The stock has a 50-day moving average of $183.71 and a two-hundred day moving average of $184.59. The stock has a market capitalization of $514.81 billion, a P/E ratio of 23.84, a P/E/G ratio of 1.02 and a beta of 1.02. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.47 and a current ratio of 4.47. Facebook has a 1-year low of $123.02 and a 1-year high of $208.66.

Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, July 24th. The social networking company reported $1.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.09. The firm had revenue of $16.89 billion during the quarter, compared to analyst estimates of $16.49 billion. Facebook had a net margin of 27.26% and a return on equity of 20.09%. Facebook’s quarterly revenue was up 27.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.74 earnings per share. Analysts predict that Facebook will post 8.03 EPS for the current fiscal year.

In other news, CEO Mark Zuckerberg sold 118,500 shares of Facebook stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $177.75, for a total value of $21,063,375.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Sheryl Sandberg sold 55,000 shares of Facebook stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $195.13, for a total value of $10,732,150.00. The disclosure for this sale can be found here. Insiders sold a total of 3,304,056 shares of company stock valued at $610,920,468 over the last quarter. 14.53% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Nuveen Asset Management LLC boosted its stake in Facebook by 5,336.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 22,496,340 shares of the social networking company’s stock valued at $4,341,794,000 after purchasing an additional 22,082,561 shares during the last quarter. Invesco Ltd. boosted its stake in Facebook by 36.5% during the 2nd quarter. Invesco Ltd. now owns 35,051,341 shares of the social networking company’s stock valued at $6,764,908,000 after purchasing an additional 9,368,684 shares during the last quarter. Viking Global Investors LP boosted its stake in Facebook by 231.7% during the 2nd quarter. Viking Global Investors LP now owns 7,063,705 shares of the social networking company’s stock valued at $1,363,295,000 after purchasing an additional 4,934,406 shares during the last quarter. BlackRock Inc. boosted its stake in Facebook by 2.8% during the 2nd quarter. BlackRock Inc. now owns 151,662,410 shares of the social networking company’s stock valued at $29,270,846,000 after purchasing an additional 4,114,043 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Facebook by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 180,682,575 shares of the social networking company’s stock worth $34,871,738,000 after buying an additional 3,465,756 shares in the last quarter. Institutional investors own 63.18% of the company’s stock.

About Facebook

Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.

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