Facebook Inc. (NASDAQ:FB)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Robert W. Baird in a research note issued to investors on Tuesday. They presently have a $155.00 price target on the social networking company’s stock. Robert W. Baird’s price target indicates a potential upside of 21.53% from the company’s previous close.
Several other analysts also recently commented on FB. Royal Bank Of Canada reissued a “buy” rating and issued a $165.00 price objective on shares of Facebook in a research note on Tuesday, June 21st. Bank of America Corp. reissued a “buy” rating and issued a $153.07 price objective (up from $123.94) on shares of Facebook in a research note on Monday, August 1st. Goldman Sachs Group Inc. increased their price objective on Facebook from $142.00 to $162.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. William Blair reissued an “outperform” rating on shares of Facebook in a research note on Thursday, July 28th. Finally, Cowen and Company reissued a “buy” rating and issued a $145.00 price objective on shares of Facebook in a research note on Sunday, July 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-five have assigned a buy rating and two have issued a strong buy rating to the stock. Facebook presently has an average rating of “Buy” and a consensus price target of $150.30.
Facebook (NASDAQ:FB) traded up 1.240% during trading on Tuesday, reaching $129.121. The company had a trading volume of 8,366,360 shares. Facebook has a 12-month low of $89.37 and a 12-month high of $131.98. The firm’s 50 day moving average price is $128.34 and its 200 day moving average price is $120.39. The firm has a market capitalization of $370.79 billion, a PE ratio of 61.721 and a beta of 0.77.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, July 27th. The social networking company reported $0.97 earnings per share for the quarter, topping 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 business had revenue of $6.44 billion for the quarter, compared to the consensus estimate of $6 billion. During the same period in the prior year, the business earned $0.50 EPS. The firm’s revenue for the quarter was up 59.2% on a year-over-year basis. Analysts anticipate that Facebook will post $3.94 earnings per share for the current year.
In related news, VP David B. Fischer sold 31,500 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $123.58, for a total value of $3,892,770.00. Following the sale, the vice president now directly owns 218,648 shares of the company’s stock, valued at approximately $27,020,519.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher K. Cox sold 15,600 shares of the stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $121.08, for a total transaction of $1,888,848.00. Following the completion of the sale, the insider now directly owns 388,392 shares in the company, valued at $47,026,503.36. The disclosure for this sale can be found here. Company insiders own 19.08% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Capital World Investors raised its position in shares of Facebook by 41.3% in the second quarter. Capital World Investors now owns 33,131,292 shares of the social networking company’s stock worth $3,786,244,000 after buying an additional 9,686,624 shares during the period. Third Point LLC bought a new position in shares of Facebook during the second quarter worth approximately $428,550,000. Vanguard Group Inc. raised its position in shares of Facebook by 2.5% in the second quarter. Vanguard Group Inc. now owns 139,483,685 shares of the social networking company’s stock worth $15,940,195,000 after buying an additional 3,400,653 shares during the period. Emerald Acquisition Ltd. bought a new position in shares of Facebook during the second quarter worth approximately $369,509,000. Finally, State Street Corp raised its position in shares of Facebook by 2.3% in the first quarter. State Street Corp now owns 85,825,821 shares of the social networking company’s stock worth $9,792,722,000 after buying an additional 1,950,433 shares during the period. 56.63% of the stock is currently owned by institutional investors.