Vetr Inc. Lowers Facebook, Inc. (NASDAQ:FB) to Hold

Vetr cut shares of Facebook, Inc. (NASDAQ:FB) from a buy rating to a hold rating in a research note released on Wednesday. They currently have $161.83 price target on the social networking company’s stock.

Several other research firms have also recently commented on FB. Pacific Crest reaffirmed an overweight rating and set a $155.00 price objective on shares of Facebook in a research report on Monday, April 24th. Needham & Company LLC increased their price objective on Facebook from $150.00 to $165.00 and gave the company a buy rating in a research report on Friday, April 28th. Wedbush set a $185.00 price objective on Facebook and gave the company a buy rating in a research report on Thursday, May 4th. Morgan Stanley reaffirmed a buy rating and set a $175.00 price objective on shares of Facebook in a research report on Thursday, May 4th. Finally, Nomura set a $165.00 price objective on Facebook and gave the company a buy rating in a research report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating, forty-one have assigned a buy rating and four have issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $166.56.

Facebook (NASDAQ:FB) opened at 159.73 on Wednesday. The stock has a market capitalization of $462.93 billion, a P/E ratio of 40.61 and a beta of 0.67. Facebook has a one year low of $113.55 and a one year high of $160.78. The company has a 50 day moving average of $151.14 and a 200-day moving average of $138.83.

Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, May 3rd. The social networking company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.16. Facebook had a return on equity of 20.27% and a net margin of 36.45%. The firm had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.83 billion. During the same period last year, the company earned $0.77 earnings per share. The company’s revenue was up 49.2% on a year-over-year basis. Equities research analysts predict that Facebook will post $4.87 earnings per share for the current fiscal year.

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In other news, CFO David M. Wehner sold 16,008 shares of the stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $144.96, for a total value of $2,320,519.68. Following the transaction, the chief financial officer now directly owns 72,047 shares of the company’s stock, valued at $10,443,933.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher K. Cox sold 16,000 shares of the stock in a transaction dated Friday, April 21st. The shares were sold at an average price of $143.95, for a total value of $2,303,200.00. Following the completion of the transaction, the insider now directly owns 181,431 shares in the company, valued at $26,116,992.45. The disclosure for this sale can be found here. Insiders have sold a total of 6,254,174 shares of company stock worth $945,091,701 over the last ninety days. 19.08% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Grand Jean Capital Management Inc. raised its position in shares of Facebook by 21.8% in the fourth quarter. Grand Jean Capital Management Inc. now owns 111,340 shares of the social networking company’s stock worth $12,810,000 after buying an additional 19,941 shares in the last quarter. Tiemann Investment Advisors LLC raised its position in shares of Facebook by 2.1% in the fourth quarter. Tiemann Investment Advisors LLC now owns 3,803 shares of the social networking company’s stock worth $438,000 after buying an additional 78 shares in the last quarter. Elkfork Partners LLC bought a new stake in shares of Facebook during the fourth quarter worth approximately $46,863,000. Frontier Wealth Management LLC increased its stake in shares of Facebook by 42.2% in the fourth quarter. Frontier Wealth Management LLC now owns 50,441 shares of the social networking company’s stock worth $5,803,000 after buying an additional 14,976 shares during the last quarter. Finally, Altavista Wealth Management Inc. increased its stake in shares of Facebook by 2.8% in the fourth quarter. Altavista Wealth Management Inc. now owns 27,883 shares of the social networking company’s stock worth $3,208,000 after buying an additional 766 shares during the last quarter. 57.63% of the stock is currently owned by institutional investors and hedge funds.

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.

To view Vetr’s full report, visit Vetr’s official website.

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