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

Facebook, Inc. (NASDAQ:FB) was downgraded by equities researchers at Vetr from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, July 12th. They presently have a $161.83 price objective on the social networking company’s stock. Vetr‘s price objective would suggest a potential downside of 3.72% from the company’s previous close.

Several other analysts have also recently issued reports on FB. UBS AG upped their target price on shares of Facebook from $155.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, March 17th. Raymond James Financial, Inc. restated a “strong-buy” rating on shares of Facebook in a research report on Friday, April 21st. Royal Bank Of Canada reissued an “outperform” rating and issued a $185.00 price objective on shares of Facebook in a research report on Saturday, June 3rd. Aegis reissued a “buy” rating on shares of Facebook in a research report on Sunday, April 2nd. Finally, Susquehanna Bancshares Inc reissued a “positive” rating and issued a $190.00 price objective (up from $180.00) on shares of Facebook in a research report on Thursday, May 4th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, forty-two have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $182.00.

Shares of Facebook (FB) traded up 0.41% on Wednesday, hitting $168.08. The stock had a trading volume of 13,791,153 shares. The company has a market capitalization of $488.14 billion, a price-to-earnings ratio of 37.62 and a beta of 0.70. Facebook has a 52 week low of $113.55 and a 52 week high of $175.49. The company has a 50-day moving average of $161.50 and a 200 day moving average of $147.44.

Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.19. The firm had revenue of $9.32 billion for the quarter, compared to analysts’ expectations of $9.19 billion. Facebook had a net margin of 38.84% and a return on equity of 21.73%. The business’s revenue was up 44.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.97 EPS. On average, equities research analysts predict that Facebook will post $5.33 EPS for the current year.

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In other Facebook news, Director Susan Desmond-Hellmann sold 209 shares of the company’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $144.67, for a total transaction of $30,236.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher K. Cox sold 16,000 shares of the company’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $148.03, for a total transaction of $2,368,480.00. Following the transaction, the insider now owns 221,328 shares of the company’s stock, valued at approximately $32,763,183.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,221,076 shares of company stock valued at $1,613,683,519. Company insiders own 19.08% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Facebook by 3.3% in the second quarter. Vanguard Group Inc. now owns 162,530,760 shares of the social networking company’s stock worth $24,538,895,000 after buying an additional 5,151,190 shares in the last quarter. BlackRock Inc. increased its position in shares of Facebook by 3.0% in the second quarter. BlackRock Inc. now owns 138,877,313 shares of the social networking company’s stock worth $20,967,696,000 after buying an additional 4,032,727 shares in the last quarter. State Street Corp increased its position in shares of Facebook by 1.7% in the first quarter. State Street Corp now owns 93,365,713 shares of the social networking company’s stock worth $13,262,607,000 after buying an additional 1,536,158 shares in the last quarter. Northern Trust Corp increased its position in shares of Facebook by 0.4% in the second quarter. Northern Trust Corp now owns 26,454,900 shares of the social networking company’s stock worth $3,994,161,000 after buying an additional 114,694 shares in the last quarter. Finally, Jennison Associates LLC increased its position in shares of Facebook by 6.4% in the second quarter. Jennison Associates LLC now owns 20,336,932 shares of the social networking company’s stock worth $3,070,470,000 after buying an additional 1,219,412 shares in the last quarter. Institutional investors own 57.60% of the company’s stock.

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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