Facebook (FB) Upgraded by Vetr to Strong-Buy
Facebook (NASDAQ:FB) was upgraded by research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report released on Thursday. The brokerage presently has a $209.16 target price on the social networking company’s stock. Vetr‘s price target would indicate a potential upside of 10.08% from the stock’s current price.
FB has been the topic of several other reports. Credit Suisse Group reiterated a “buy” rating on shares of Facebook in a report on Wednesday, October 11th. Goldman Sachs Group set a $205.00 target price on Facebook and gave the company a “buy” rating in a report on Friday, October 20th. Barclays raised their target price on Facebook from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, November 2nd. Needham & Company LLC raised their target price on Facebook from $185.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Finally, Wedbush set a $225.00 target price on Facebook and gave the company a “buy” rating in a report on Monday, October 30th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, forty-two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $202.83.
Facebook (FB) opened at $190.00 on Thursday. The company has a market capitalization of $559,520.00, a PE ratio of 35.32, a PEG ratio of 1.06 and a beta of 0.68. Facebook has a twelve month low of $129.52 and a twelve month high of $190.66.
In other news, Director Jan Koum sold 2,600,000 shares of Facebook stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $180.09, for a total value of $468,234,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Colin Stretch sold 750 shares of Facebook stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $171.60, for a total value of $128,700.00. Following the completion of the transaction, the vice president now owns 84,246 shares of the company’s stock, valued at approximately $14,456,613.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,160,000 shares of company stock valued at $748,854,420. Insiders own 17.23% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in FB. Country Trust Bank boosted its position in Facebook by 550.6% during the 4th quarter. Country Trust Bank now owns 566 shares of the social networking company’s stock valued at $100,000 after purchasing an additional 479 shares during the period. D. Scott Neal Inc. boosted its position in Facebook by 1,358.0% during the 2nd quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock valued at $110,000 after purchasing an additional 679 shares during the period. Moisand Fitzgerald Tamayo LLC bought a new stake in Facebook during the 3rd quarter valued at $111,000. Cerebellum GP LLC bought a new stake in Facebook during the 4th quarter valued at $122,000. Finally, Mountain Capital Investment Advisors Inc bought a new stake in Facebook during the 2nd quarter valued at $138,000. Institutional investors and hedge funds own 57.76% of the company’s stock.
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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.
To view Vetr’s full report, visit Vetr’s official website.
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