Facebook (NASDAQ:FB) Lowered to Hold at BidaskClub

BidaskClub lowered shares of Facebook (NASDAQ:FB) from a buy rating to a hold rating in a report published on Saturday, BidAskClub reports.

A number of other brokerages have also weighed in on FB. Truist lifted their price objective on shares of Facebook from $285.00 to $310.00 in a report on Friday, October 30th. BMO Capital Markets boosted their price target on shares of Facebook from $220.00 to $225.00 and gave the company a market perform rating in a report on Friday, July 31st. JMP Securities boosted their price target on shares of Facebook from $250.00 to $305.00 and gave the company an outperform rating in a report on Friday, July 31st. Barclays boosted their price target on shares of Facebook from $285.00 to $325.00 and gave the company an overweight rating in a report on Friday, October 30th. Finally, William Blair restated an outperform rating on shares of Facebook in a report on Friday, July 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $293.84.

FB stock opened at $269.70 on Friday. Facebook has a 12 month low of $137.10 and a 12 month high of $304.67. The company has a 50-day moving average price of $272.66 and a 200 day moving average price of $251.77. The stock has a market cap of $768.18 billion, a PE ratio of 30.72, a P/E/G ratio of 1.69 and a beta of 1.26.

Facebook (NASDAQ:FB) last announced its quarterly earnings data on Thursday, October 29th. The social networking company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.77. Facebook had a net margin of 32.00% and a return on equity of 23.27%. The company had revenue of $21.47 billion during the quarter, compared to analyst estimates of $19.78 billion. During the same quarter last year, the business posted $2.12 EPS. The firm’s revenue for the quarter was up 21.6% on a year-over-year basis. On average, equities research analysts predict that Facebook will post 9.18 earnings per share for the current fiscal year.

In other news, CEO Mark Zuckerberg sold 62,250 shares of the company’s stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $275.87, for a total value of $17,172,907.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO David B. Fischer sold 13,110 shares of the company’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $293.95, for a total transaction of $3,853,684.50. The disclosure for this sale can be found here. Insiders sold a total of 298,404 shares of company stock worth $82,606,401 over the last ninety days. Insiders own 14.14% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in FB. SB Management Ltd purchased a new stake in Facebook during the third quarter worth $2,222,276,000. Copper Rock Capital Partners LLC boosted its holdings in Facebook by 6,224.9% during the second quarter. Copper Rock Capital Partners LLC now owns 3,959,790 shares of the social networking company’s stock worth $821,695,000 after buying an additional 3,897,184 shares in the last quarter. GQG Partners LLC purchased a new stake in Facebook during the second quarter worth $590,767,000. Bank of New York Mellon Corp boosted its holdings in Facebook by 11.2% during the second quarter. Bank of New York Mellon Corp now owns 24,179,742 shares of the social networking company’s stock worth $5,490,495,000 after buying an additional 2,431,190 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in Facebook by 16.6% during the second quarter. Jennison Associates LLC now owns 14,807,293 shares of the social networking company’s stock worth $3,362,292,000 after buying an additional 2,110,327 shares in the last quarter. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

About Facebook

Facebook, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices 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 private messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application that is used by people and businesses to communicate in a private way.

Recommended Story: Should I invest in “strong buy” stocks?

Analyst Recommendations for Facebook (NASDAQ:FB)

Receive News & Ratings for Facebook Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook and related companies with MarketBeat.com's FREE daily email newsletter.