Investors Buy Shares of Facebook (FB) on Weakness

Traders purchased shares of Facebook Inc (NASDAQ:FB) on weakness during trading hours on Thursday. $455.50 million flowed into the stock on the tick-up and $357.35 million flowed out of the stock on the tick-down, for a money net flow of $98.15 million into the stock. Of all equities tracked, Facebook had the highest net in-flow for the day. Facebook traded down ($0.07) for the day and closed at $187.77

A number of brokerages have recently weighed in on FB. JPMorgan Chase & Co. set a $230.00 price target on Facebook and gave the stock a “buy” rating in a research report on Monday. Pivotal Research reiterated a “sell” rating and set a $147.00 price target on shares of Facebook in a research report on Monday. Credit Suisse Group increased their price target on Facebook from $230.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday. Wells Fargo & Co reiterated an “outperform” rating and set a $230.00 price target (up from $215.00) on shares of Facebook in a research report on Monday. Finally, BidaskClub upgraded Facebook from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, forty-two have issued a buy rating and four have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $202.86.

The stock has a market capitalization of $545,620.00, a P/E ratio of 34.90, a PEG ratio of 1.06 and a beta of 0.68.

Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, November 1st. The social networking company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.31. The firm had revenue of $10.33 billion during the quarter, compared to analyst estimates of $9.84 billion. Facebook had a return on equity of 23.64% and a net margin of 41.69%. The firm’s quarterly revenue was up 47.3% on a year-over-year basis. During the same period last year, the company posted $1.09 EPS. research analysts forecast that Facebook Inc will post 5.86 EPS for the current fiscal year.

In other news, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $175.29, for a total transaction of $131,467.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher K. Cox sold 16,000 shares of the firm’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $178.10, for a total value of $2,849,600.00. Following the sale, the insider now directly owns 16,010 shares of the company’s stock, valued at $2,851,381. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,144,182 shares of company stock valued at $745,583,697. 17.23% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FB. 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 worth $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 worth $20,967,696,000 after buying an additional 4,032,727 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 worth $8,578,347,000 after buying an additional 833,810 shares during the period. 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 worth $3,994,161,000 after buying an additional 114,694 shares during the period. Finally, Jennison Associates LLC boosted 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 during the period. 57.73% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: “Investors Buy Shares of Facebook (FB) on Weakness” was originally reported by Community Financial News and is owned by of Community Financial News. If you are accessing this story on another site, it was illegally stolen and reposted in violation of international copyright legislation. The legal version of this story can be viewed at https://www.com-unik.info/2018/01/11/investors-buy-shares-of-facebook-fb-on-weakness.html.

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.

Receive News & Ratings for Facebook Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit