Pivotal Research Downgrades Facebook, Inc. (FB) to Sell

Pivotal Research downgraded shares of Facebook, Inc. (NASDAQ:FB) from a hold rating to a sell rating in a report released on Monday, July 31st, Marketbeat.com reports. They currently have $140.00 price target on the social networking company’s stock, down from their prior price target of $172.45.

A number of other research analysts have also commented on FB. Pacific Crest reissued an overweight rating and set a $155.00 price target on shares of Facebook in a report on Monday, April 24th. Needham & Company LLC raised their price target on Facebook from $150.00 to $165.00 and gave the company a buy rating in a report on Friday, April 28th. Wedbush set a $185.00 target price on Facebook and gave the stock a buy rating in a report on Thursday, May 4th. Morgan Stanley reaffirmed a buy rating and set a $175.00 target price on shares of Facebook in a report on Thursday, May 4th. Finally, Nomura set a $165.00 target price on Facebook and gave the stock a buy rating in a report on Wednesday, May 3rd. Two 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 given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $183.47.

Facebook (NASDAQ FB) opened at 167.41 on Monday. The firm has a market capitalization of $486.19 billion, a PE ratio of 37.47 and a beta of 0.70. Facebook has a 52 week low of $113.55 and a 52 week high of $175.49. The firm has a 50-day moving average of $163.85 and a 200 day moving average of $148.79.

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

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In other news, Director Jan Koum sold 3,600,000 shares of the company’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $160.06, for a total transaction of $576,216,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Peter Thiel sold 60,316 shares of the company’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $172.25, for a total value of $10,389,431.00. Following the transaction, the director now directly owns 6,311 shares of the company’s stock, valued at $1,087,069.75. The disclosure for this sale can be found here. Insiders sold 12,702,398 shares of company stock valued at $2,054,828,660 in the last quarter. 19.08% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted 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 valued at $24,538,895,000 after buying an additional 5,151,190 shares during the period. BlackRock Inc. boosted 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 valued at $20,967,696,000 after buying an additional 4,032,727 shares during the period. State Street Corp boosted 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 valued at $13,262,607,000 after buying an additional 1,536,158 shares during the period. Capital World Investors boosted its position in shares of Facebook by 1.5% in the second quarter. Capital World Investors now owns 56,817,768 shares of the social networking company’s stock valued at $8,578,347,000 after buying an additional 833,810 shares during the period. Finally, Northern Trust Corp boosted 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 valued at $3,994,161,000 after buying an additional 114,694 shares during the period. 57.40% of the stock is owned by hedge funds and other institutional investors.

About Facebook

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.

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