Investors Sell Shares of Facebook (FB) on Strength Following Insider Selling

Investors sold shares of Facebook Inc (NASDAQ:FB) on strength during trading hours on Wednesday after an insider sold shares in the company. $898.93 million flowed into the stock on the tick-up and $938.15 million flowed out of the stock on the tick-down, for a money net flow of $39.22 million out of the stock. Of all equities tracked, Facebook had the 0th highest net out-flow for the day. Facebook traded up $1.90 for the day and closed at $177.91Specifically, CTO Michael Todd Schroepfer sold 26,940 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $178.89, for a total value of $4,819,296.60. Following the sale, the chief technology officer now owns 468,105 shares in the company, valued at $83,739,303.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jan Koum sold 1,253,906 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $176.51, for a total value of $221,326,948.06. The disclosure for this sale can be found here. Insiders sold 2,762,530 shares of company stock valued at $490,711,179 over the last ninety days. Corporate insiders own 17.23% of the company’s stock.

A number of brokerages recently issued reports on FB. BidaskClub upgraded Facebook from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 10th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $225.00 price objective on shares of Facebook in a research report on Thursday, November 2nd. JMP Securities set a $235.00 price objective on Facebook and gave the stock a “buy” rating in a research report on Thursday, February 1st. Canaccord Genuity reiterated a “buy” rating and issued a $240.00 price objective (up previously from $230.00) on shares of Facebook in a research report on Thursday, February 1st. Finally, UBS Group set a $214.00 price objective on Facebook and gave the stock a “buy” rating in a research report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, forty-two have assigned a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $214.70.

The company has a market cap of $519,970.00, a P/E ratio of 33.21, a PEG ratio of 0.91 and a beta of 0.58.

Facebook (NASDAQ:FB) last posted its earnings results on Wednesday, January 31st. The social networking company reported $2.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.96 by $0.24. The company had revenue of $12.97 billion for the quarter, compared to analysts’ expectations of $12.58 billion. Facebook had a return on equity of 26.49% and a net margin of 39.16%. equities analysts predict that Facebook Inc will post 7.28 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Facebook by 3.4% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,115,741 shares of the social networking company’s stock worth $1,215,867,000 after purchasing an additional 231,883 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Facebook by 4.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 7,476,119 shares of the social networking company’s stock worth $1,128,745,000 after purchasing an additional 349,182 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Facebook by 0.5% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 175,610 shares of the social networking company’s stock worth $26,514,000 after purchasing an additional 907 shares in the last quarter. Xact Kapitalforvaltning AB boosted its position in shares of Facebook by 2.9% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 424,191 shares of the social networking company’s stock worth $72,482,000 after purchasing an additional 11,940 shares in the last quarter. Finally, Birinyi Associates Inc. boosted its position in shares of Facebook by 11.7% in the 2nd quarter. Birinyi Associates Inc. now owns 30,500 shares of the social networking company’s stock worth $4,605,000 after purchasing an additional 3,200 shares in the last quarter. 57.32% of the stock is currently owned by institutional investors.

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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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