Facebook’s (FB) Buy Rating Reaffirmed at Goldman Sachs Group
Facebook (NASDAQ:FB)‘s stock had its “buy” rating reiterated by analysts at Goldman Sachs Group in a research note issued to investors on Thursday, Borsen Zeitung reports. They presently have a $170.00 price objective on the social networking company’s stock. Goldman Sachs Group’s target price suggests a potential upside of 4.08% from the stock’s current price.
A number of other analysts have also commented on the stock. Morgan Stanley boosted their price target on shares of Facebook from $250.00 to $270.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. SunTrust Banks decreased their price target on shares of Facebook from $265.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday. Bank of America restated a “buy” rating and set a $250.00 price target (down previously from $260.00) on shares of Facebook in a research note on Thursday, January 30th. BMO Capital Markets restated a “positive” rating and set a $200.00 price target on shares of Facebook in a research note on Tuesday, January 28th. Finally, KeyCorp decreased their price target on shares of Facebook from $263.00 to $248.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and forty-six have assigned a buy rating to the company. Facebook currently has a consensus rating of “Buy” and an average target price of $241.88.
Shares of NASDAQ:FB traded up $7.13 during mid-day trading on Thursday, hitting $163.34. The company had a trading volume of 26,492,566 shares, compared to its average volume of 21,086,205. The firm has a fifty day moving average price of $189.00 and a 200 day moving average price of $195.35. The company has a market capitalization of $457.28 billion, a PE ratio of 25.36, a price-to-earnings-growth ratio of 1.04 and a beta of 1.03. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.40 and a quick ratio of 4.40. Facebook has a one year low of $137.10 and a one year high of $224.20.
In other news, CRO David B. Fischer sold 11,142 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $192.00, for a total value of $2,139,264.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter Thiel sold 53,602 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $210.56, for a total transaction of $11,286,437.12. Following the completion of the sale, the director now directly owns 9,948 shares in the company, valued at $2,094,650.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 84,067 shares of company stock worth $17,392,181. Insiders own 14.53% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Executive Wealth Management LLC boosted its position in shares of Facebook by 10.1% in the 3rd quarter. Executive Wealth Management LLC now owns 46,687 shares of the social networking company’s stock valued at $8,313,000 after purchasing an additional 4,266 shares during the period. UMA Financial Services Inc. acquired a new position in Facebook in the third quarter valued at approximately $623,000. Voya Financial Advisors Inc. lifted its holdings in Facebook by 3.1% in the third quarter. Voya Financial Advisors Inc. now owns 58,988 shares of the social networking company’s stock valued at $10,447,000 after buying an additional 1,781 shares during the period. State Street Corp lifted its holdings in Facebook by 0.7% in the third quarter. State Street Corp now owns 93,435,833 shares of the social networking company’s stock valued at $16,639,053,000 after buying an additional 627,442 shares during the period. Finally, Merit Financial Group LLC lifted its holdings in Facebook by 8.2% in the third quarter. Merit Financial Group LLC now owns 2,733 shares of the social networking company’s stock valued at $487,000 after buying an additional 208 shares during the period. Institutional investors own 65.29% of the company’s stock.
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.
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