Investors sold shares of Facebook, Inc. (NASDAQ:FB) on strength during trading hours on Friday following insider selling activity. $573.09 million flowed into the stock on the tick-up and $1,177.98 million flowed out of the stock on the tick-down, for a money net flow of $604.89 million out of the stock. Of all equities tracked, Facebook had the 4th highest net out-flow for the day. Facebook traded up $1.93 for the day and closed at $140.61Specifically, VP Colin Stretch sold 750 shares of the stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $168.85, for a total transaction of $126,637.50. Following the completion of the transaction, the vice president now owns 96,894 shares of the company’s stock, valued at approximately $16,360,551.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Sheryl Sandberg sold 55,000 shares of the stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $166.07, for a total transaction of $9,133,850.00. The disclosure for this sale can be found here. Insiders have sold a total of 524,153 shares of company stock valued at $80,193,956 in the last ninety days. 17.23% of the stock is currently owned by corporate insiders.
A number of research firms have issued reports on FB. Raymond James reiterated a “buy” rating and set a $210.00 target price on shares of Facebook in a report on Friday, October 19th. Royal Bank of Canada reiterated a “buy” rating and set a $195.00 target price on shares of Facebook in a report on Monday, September 3rd. Stifel Nicolaus reiterated a “buy” rating and set a $202.00 target price on shares of Facebook in a report on Thursday, August 23rd. JPMorgan Chase & Co. increased their target price on shares of Facebook from $195.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, September 18th. Finally, Goldman Sachs Group reiterated a “buy” rating and set a $205.00 target price on shares of Facebook in a report on Monday, October 22nd. Four analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $192.77.
The firm has a market cap of $397.29 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 0.83 and a beta of 0.55.
Large investors have recently modified their holdings of the company. Baker Ellis Asset Management LLC acquired a new position in Facebook during the third quarter worth about $119,000. Cribstone Capital Management LLC raised its position in Facebook by 186.2% during the second quarter. Cribstone Capital Management LLC now owns 624 shares of the social networking company’s stock worth $121,000 after acquiring an additional 406 shares during the last quarter. IMA Wealth Inc. acquired a new position in Facebook during the second quarter worth about $122,000. Trust Department MB Financial Bank N A acquired a new position in Facebook during the second quarter worth about $134,000. Finally, Aviance Capital Management LLC acquired a new position in Facebook during the second quarter worth about $151,000. 58.98% of the stock is currently owned by institutional investors and hedge funds.
About Facebook (NASDAQ:FB)
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.
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