Facebook (FB) PT Lowered to $175.00

Facebook (NASDAQ:FB) had its price target trimmed by BMO Capital Markets from $190.00 to $175.00 in a research report report published on Wednesday morning, The Fly reports. The brokerage currently has a market perform rating on the social networking company’s stock.

FB has been the topic of several other reports. SunTrust Banks dropped their target price on Facebook to $200.00 and set a buy rating on the stock in a research report on Thursday, July 26th. Wells Fargo & Co set a $220.00 target price on Facebook and gave the stock a buy rating in a research report on Monday, October 29th. Credit Suisse Group reaffirmed a buy rating and issued a $210.00 target price on shares of Facebook in a research report on Wednesday. Raymond James lowered Facebook from a strong-buy rating to an outperform rating and set a $210.00 target price on the stock. in a research report on Thursday, July 26th. Finally, Bank of America dropped their target price on Facebook from $205.00 to $190.00 and set a buy rating on the stock in a research report on Wednesday, October 24th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the stock. Facebook presently has an average rating of Buy and an average target price of $194.54.

Shares of FB stock opened at $150.35 on Wednesday. Facebook has a fifty-two week low of $139.03 and a fifty-two week high of $218.62. The stock has a market capitalization of $436.77 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 0.92 and a beta of 0.55.

Facebook (NASDAQ:FB) last issued its earnings results on Tuesday, October 30th. The social networking company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.30. Facebook had a return on equity of 27.89% and a net margin of 37.57%. The company had revenue of $13.73 billion for the quarter, compared to analyst estimates of $13.82 billion. During the same period in the prior year, the firm posted $1.59 EPS. The business’s revenue was up 32.9% compared to the same quarter last year. Sell-side analysts anticipate that Facebook will post 7.3 earnings per share for the current year.

In related news, CFO David M. Wehner sold 9,522 shares of the stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $180.20, for a total transaction of $1,715,864.40. Following the completion of the sale, the chief financial officer now owns 77,302 shares in the company, valued at approximately $13,929,820.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 210,000 shares of the stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $185.45, for a total value of $38,944,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,416,282 shares of company stock valued at $603,782,983. 17.23% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Marble Arch Investments LP lifted its position in shares of Facebook by 40.8% in the 1st quarter. Marble Arch Investments LP now owns 451,900 shares of the social networking company’s stock worth $72,209,000 after acquiring an additional 130,900 shares during the period. Knott David M bought a new stake in shares of Facebook in the 1st quarter worth approximately $3,196,000. Immersion Capital LLP bought a new stake in shares of Facebook in the 1st quarter worth approximately $65,194,000. Natixis lifted its position in shares of Facebook by 420.1% in the 1st quarter. Natixis now owns 789,988 shares of the social networking company’s stock worth $126,232,000 after acquiring an additional 638,106 shares during the period. Finally, City Financial Investment Co Ltd bought a new stake in shares of Facebook in the 1st quarter worth approximately $15,979,000. Hedge funds and other institutional investors own 60.30% of the company’s stock.

About Facebook

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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