Facebook (FB) Receives New Coverage from Analysts at MED

MED started coverage on shares of Facebook (NASDAQ:FB) in a research report released on Wednesday. The brokerage issued a buy rating and a $165.04 price target on the social networking company’s stock.

A number of other research firms also recently commented on FB. Macquarie reaffirmed a buy rating and set a $200.00 price objective on shares of Facebook in a report on Tuesday, March 20th. Vetr raised shares of Facebook from a buy rating to a strong-buy rating and set a $209.16 price objective for the company in a report on Thursday, January 25th. JPMorgan Chase reaffirmed a buy rating and set a $242.00 price objective on shares of Facebook in a report on Tuesday. Aegis raised their price objective on shares of Facebook from $215.00 to $220.00 and gave the stock a buy rating in a report on Wednesday, January 31st. Finally, Robert W. Baird reduced their price objective on shares of Facebook from $225.00 to $210.00 and set an outperform rating for the company in a report on Monday, March 26th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating, forty-one have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $210.16.

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Shares of NASDAQ:FB traded down $1.14 during midday trading on Wednesday, reaching $165.18. 11,103,693 shares of the company’s stock were exchanged, compared to its average volume of 33,922,840. The company has a market capitalization of $479,441.19, a price-to-earnings ratio of 27.00, a PEG ratio of 0.89 and a beta of 0.79. Facebook has a 12 month low of $139.33 and a 12 month high of $195.32.

Facebook (NASDAQ:FB) last released its quarterly earnings data on Wednesday, January 31st. The social networking company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.24. The company had revenue of $12.97 billion during the quarter, compared to the consensus estimate of $12.58 billion. Facebook had a net margin of 39.16% and a return on equity of 26.49%. equities research analysts predict that Facebook will post 7.16 earnings per share for the current fiscal year.

In other news, Director Jan Koum sold 1,253,906 shares of Facebook stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $176.51, for a total transaction of $221,326,948.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 140,200 shares of Facebook stock in a transaction that occurred on Wednesday, March 28th. The stock was sold at an average price of $153.55, for a total transaction of $21,527,710.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,812,678 shares of company stock valued at $1,193,584,853. Insiders own 17.23% of the company’s stock.

Several large investors have recently modified their holdings of the company. Regal Investment Advisors LLC grew its holdings in Facebook by 0.3% during the second quarter. Regal Investment Advisors LLC now owns 5,800 shares of the social networking company’s stock valued at $876,000 after purchasing an additional 18 shares during the period. Aspen Investment Management Inc grew its holdings in Facebook by 0.4% during the second quarter. Aspen Investment Management Inc now owns 6,915 shares of the social networking company’s stock valued at $1,044,000 after purchasing an additional 30 shares during the period. Fort Pitt Capital Group LLC grew its holdings in Facebook by 2.4% during the second quarter. Fort Pitt Capital Group LLC now owns 1,609 shares of the social networking company’s stock valued at $243,000 after purchasing an additional 38 shares during the period. First Commonwealth Financial Corp PA grew its holdings in Facebook by 0.5% during the second quarter. First Commonwealth Financial Corp PA now owns 8,630 shares of the social networking company’s stock valued at $1,303,000 after purchasing an additional 46 shares during the period. Finally, Affinity Wealth Management grew its holdings in Facebook by 2.5% during the second quarter. Affinity Wealth Management now owns 2,184 shares of the social networking company’s stock valued at $330,000 after purchasing an additional 54 shares during the period. Institutional investors own 58.48% of the company’s stock.

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About Facebook

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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