Facebook, Inc. (FB) Price Target Increased to $215.00 by Analysts at Aegis

Facebook, Inc. (NASDAQ:FB) had its target price raised by Aegis from $200.00 to $215.00 in a report issued on Wednesday. The brokerage currently has a “buy” rating on the social networking company’s stock. Aegis’ price target would indicate a potential upside of 19.40% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Cowen and Company restated an “outperform” rating and set a $195.00 price target on shares of Facebook in a research note on Thursday, August 10th. Citigroup Inc. restated a “buy” rating and set a $200.00 price target on shares of Facebook in a research note on Wednesday, September 27th. Pivotal Research lowered shares of Facebook from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Robert W. Baird restated an “outperform” rating and set a $185.00 price target (up previously from $163.00) on shares of Facebook in a research note on Thursday, July 27th. Finally, Zacks Investment Research lowered shares of Facebook from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, forty-five have issued a buy rating and two have issued a strong buy rating to the stock. Facebook has an average rating of “Buy” and a consensus target price of $187.04.

Shares of Facebook (NASDAQ FB) opened at 180.06 on Wednesday. Facebook has a 12 month low of $113.55 and a 12 month high of $180.80. The company has a market cap of $522.93 billion, a P/E ratio of 40.30 and a beta of 0.70. The company’s 50 day moving average is $172.00 and its 200 day moving average is $161.33.

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In other Facebook news, Director Jan Koum sold 2,953,492 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $170.17, for a total value of $502,595,733.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Colin Stretch sold 750 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $171.88, for a total transaction of $128,910.00. Following the completion of the transaction, the vice president now owns 82,406 shares in the company, valued at $14,163,943.28. The disclosure for this sale can be found here. Insiders sold a total of 5,705,933 shares of company stock worth $972,931,125 over the last quarter. Insiders own 19.08% of the company’s stock.

Several hedge funds have recently made changes to their positions in FB. Janus Henderson Group PLC lifted its holdings in shares of Facebook by 283.6% during the 2nd quarter. Janus Henderson Group PLC now owns 11,888,149 shares of the social networking company’s stock worth $1,794,857,000 after acquiring an additional 8,788,743 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Facebook by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 162,530,760 shares of the social networking company’s stock worth $24,538,895,000 after acquiring an additional 5,151,190 shares during the period. BlackRock Inc. lifted its holdings in shares of Facebook by 3.0% during the 2nd quarter. BlackRock Inc. now owns 138,877,313 shares of the social networking company’s stock worth $20,967,696,000 after acquiring an additional 4,032,727 shares during the period. Harbour Capital Advisors LLC lifted its holdings in shares of Facebook by 15,047.5% during the 2nd quarter. Harbour Capital Advisors LLC now owns 2,540,691 shares of the social networking company’s stock worth $16,828,000 after acquiring an additional 2,523,918 shares during the period. Finally, Magellan Asset Management Ltd lifted its holdings in shares of Facebook by 28.4% during the 2nd quarter. Magellan Asset Management Ltd now owns 10,686,955 shares of the social networking company’s stock worth $1,613,516,000 after acquiring an additional 2,361,166 shares during the period. Institutional investors and hedge funds own 57.27% of the company’s stock.

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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