Trade Report: The Facebook Inc. (FB) Given “Buy” Rating at Needham & Company LLC

The Facebook Inc. (FB) Given “Buy” Rating at Needham & Company LLC

Facebook Inc. (NASDAQ:FB)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a report released on Wednesday. They currently have a $150.00 target price on the social networking company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 16.39% from the stock’s current price.

A number of other equities research analysts also recently issued reports on FB. Cowen and Company restated a “buy” rating and set a $145.00 price objective on shares of Facebook in a research report on Sunday, July 17th. MKM Partners restated a “buy” rating on shares of Facebook in a research report on Sunday, July 24th. Deutsche Bank AG restated a “buy” rating on shares of Facebook in a research report on Sunday, July 10th. Vetr upgraded Facebook from a “hold” rating to a “buy” rating and set a $127.69 price objective on the stock in a research report on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. set a $170.00 price objective on Facebook and gave the company a “buy” rating in a research report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, forty-five have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $149.99.

Facebook (NASDAQ:FB) traded up 0.18% during midday trading on Wednesday, hitting $129.11. The company had a trading volume of 5,884,084 shares. The company has a market capitalization of $370.76 billion, a P/E ratio of 61.72 and a beta of 0.77. Facebook has a 52 week low of $89.37 and a 52 week high of $131.98. The stock has a 50 day moving average price of $127.89 and a 200 day moving average price of $120.00.

Facebook (NASDAQ:FB) last announced its quarterly earnings results on Wednesday, July 27th. The social networking company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.15. Facebook had a return on equity of 14.38% and a net margin of 27.07%. The company earned $6.44 billion during the quarter, compared to analyst estimates of $6 billion. During the same period in the prior year, the company earned $0.50 earnings per share. The firm’s revenue was up 59.2% on a year-over-year basis. Equities analysts forecast that Facebook will post $3.94 earnings per share for the current fiscal year.

In related news, CTO Michael Todd Schroepfer sold 51,283 shares of Facebook stock in a transaction on Friday, July 15th. The shares were sold at an average price of $117.30, for a total transaction of $6,015,495.90. Following the sale, the chief technology officer now owns 579,862 shares of the company’s stock, valued at approximately $68,017,812.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jan Koum sold 1,566,668 shares of Facebook stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $129.70, for a total transaction of $203,196,839.60. The disclosure for this sale can be found here. 19.08% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Facebook by 2.5% in the second quarter. Vanguard Group Inc. now owns 139,483,685 shares of the social networking company’s stock valued at $15,940,195,000 after buying an additional 3,400,653 shares during the last quarter. State Street Corp increased its stake in Facebook by 2.3% in the first quarter. State Street Corp now owns 85,825,821 shares of the social networking company’s stock valued at $9,792,722,000 after buying an additional 1,950,433 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Facebook by 1.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 59,448,041 shares of the social networking company’s stock valued at $6,793,722,000 after buying an additional 995,651 shares during the period. Capital World Investors raised its position in Facebook by 41.3% in the second quarter. Capital World Investors now owns 33,131,292 shares of the social networking company’s stock valued at $3,786,244,000 after buying an additional 9,686,624 shares during the period. Finally, Geode Capital Management LLC raised its position in Facebook by 3.7% in the first quarter. Geode Capital Management LLC now owns 19,410,677 shares of the social networking company’s stock valued at $2,210,464,000 after buying an additional 690,650 shares during the period. 56.61% of the stock is currently owned by hedge funds and other institutional investors.

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