Bank of America Raises Facebook (FB) Price Target to $265.00
Facebook (NASDAQ:FB) had its price target hoisted by Bank of America from $230.00 to $265.00 in a research report report published on Thursday morning. Bank of America currently has a buy rating on the social networking company’s stock.
FB has been the subject of a number of other research reports. Credit Suisse Group reissued a buy rating on shares of Facebook in a report on Wednesday, October 11th. Goldman Sachs Group set a $205.00 price target on Facebook and gave the company a buy rating in a research note on Friday, October 20th. Barclays boosted their price target on Facebook from $200.00 to $215.00 and gave the company an overweight rating in a research note on Thursday, November 2nd. Needham & Company LLC boosted their price target on Facebook from $185.00 to $215.00 and gave the company a buy rating in a research note on Thursday, November 2nd. Finally, Wedbush set a $225.00 price target on Facebook and gave the company a buy rating in a research note on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, forty-three have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Buy and an average target price of $212.09.
Facebook (FB) traded down $0.65 on Thursday, hitting $192.44. The stock had a trading volume of 15,410,000 shares, compared to its average volume of 21,250,000. Facebook has a 12 month low of $130.30 and a 12 month high of $195.32. The firm has a market capitalization of $559,190.00, a P/E ratio of 35.64, a P/E/G ratio of 1.05 and a beta of 0.58.
In related news, VP Colin Stretch sold 750 shares of Facebook stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $180.35, for a total value of $135,262.50. Following the transaction, the vice president now directly owns 88,091 shares of the company’s stock, valued at $15,887,211.85. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Peter Thiel sold 160,805 shares of Facebook stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $178.90, for a total value of $28,768,014.50. Following the completion of the transaction, the director now directly owns 6,311 shares in the company, valued at $1,129,037.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,564,837 shares of company stock worth $281,533,757. Company insiders own 17.23% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Country Trust Bank lifted its stake in Facebook by 550.6% in the fourth quarter. Country Trust Bank now owns 566 shares of the social networking company’s stock valued at $100,000 after buying an additional 479 shares during the period. Price Wealth Management Inc. acquired a new position in Facebook in the fourth quarter valued at approximately $105,000. D. Scott Neal Inc. lifted its stake in Facebook by 1,358.0% in the second quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock valued at $110,000 after buying an additional 679 shares during the period. Moisand Fitzgerald Tamayo LLC acquired a new position in Facebook in the third quarter valued at approximately $111,000. Finally, Goodman Financial Corp acquired a new position in Facebook in the fourth quarter valued at approximately $115,000. 57.81% of the stock is currently owned by institutional investors.
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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.
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