Traders Sell Facebook (FB) on Strength Following Insider Selling

Traders sold shares of Facebook, Inc. (NASDAQ:FB) on strength during trading on Wednesday following insider selling activity. $376.93 million flowed into the stock on the tick-up and $554.88 million flowed out of the stock on the tick-down, for a money net flow of $177.95 million out of the stock. Of all companies tracked, Facebook had the 0th highest net out-flow for the day. Facebook traded up $0.27 for the day and closed at $162.56Specifically, CAO Susan J.S. Taylor sold 1,442 shares of the stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $162.02, for a total transaction of $233,632.84. Following the completion of the sale, the chief accounting officer now directly owns 1,569 shares in the company, valued at $254,209.38. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Sheryl Sandberg sold 55,000 shares of the stock in a transaction dated Monday, December 10th. The stock was sold at an average price of $140.94, for a total transaction of $7,751,700.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 383,312 shares of company stock valued at $55,392,367. 16.25% of the stock is currently owned by company insiders.

A number of analysts have recently weighed in on FB shares. Bank of America dropped their target price on shares of Facebook from $205.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, October 24th. Wedbush set a $250.00 price objective on shares of Facebook and gave the stock a “buy” rating in a report on Friday, October 26th. Wells Fargo & Co set a $220.00 price objective on shares of Facebook and gave the stock a “buy” rating in a report on Monday, October 29th. Macquarie restated a “buy” rating and issued a $190.00 price objective on shares of Facebook in a report on Monday, October 29th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $225.00 price objective on shares of Facebook in a report on Monday, October 29th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and thirty-nine have issued a buy rating to the stock. Facebook has an average rating of “Buy” and a consensus target price of $190.62.

The firm has a market cap of $471.45 billion, a PE ratio of 21.47, a P/E/G ratio of 0.95 and a beta of 0.93.

Facebook (NASDAQ:FB) last released its earnings results on Wednesday, January 30th. The social networking company reported $2.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.18 by $0.20. Facebook had a net margin of 39.60% and a return on equity of 27.51%. The firm had revenue of $16.91 billion during the quarter, compared to analyst estimates of $16.40 billion. During the same period last year, the business earned $1.44 earnings per share. The business’s revenue was up 30.4% on a year-over-year basis. Equities analysts predict that Facebook, Inc. will post 7.55 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its position in Facebook by 1.7% in the 3rd quarter. FMR LLC now owns 124,255,610 shares of the social networking company’s stock worth $20,435,077,000 after purchasing an additional 2,132,804 shares during the period. Oregon Public Employees Retirement Fund grew its position in Facebook by 13,908.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 70,768,412 shares of the social networking company’s stock worth $540,000 after purchasing an additional 70,263,213 shares during the period. Geode Capital Management LLC grew its position in Facebook by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 31,772,199 shares of the social networking company’s stock worth $4,157,898,000 after purchasing an additional 2,203,076 shares during the period. Northern Trust Corp grew its position in Facebook by 3.4% in the 4th quarter. Northern Trust Corp now owns 27,700,212 shares of the social networking company’s stock worth $3,631,220,000 after purchasing an additional 911,997 shares during the period. Finally, Morgan Stanley grew its position in Facebook by 3.2% in the 3rd quarter. Morgan Stanley now owns 25,517,710 shares of the social networking company’s stock worth $4,196,642,000 after purchasing an additional 799,081 shares during the period. Hedge funds and other institutional investors own 57.89% of the company’s stock.

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About Facebook (NASDAQ:FB)

Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.

See Also: Hedge Funds

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