Wells Fargo & Co Lowers Facebook (FB) Price Target to $200.00

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Facebook (NASDAQ:FB) had its price target lowered by equities research analysts at Wells Fargo & Co from $220.00 to $200.00 in a report released on Wednesday, The Fly reports. The brokerage presently has an “outperform” rating on the social networking company’s stock. Wells Fargo & Co’s target price would suggest a potential upside of 29.52% from the stock’s previous close.

FB has been the topic of several other reports. Nomura initiated coverage on Facebook in a research note on Tuesday, July 10th. They set a “buy” rating and a $228.00 price objective on the stock. BidaskClub cut Facebook from a “buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. Piper Jaffray Companies raised their price objective on Facebook to $250.00 and gave the company an “in-line” rating in a research note on Friday, July 20th. UBS Group cut Facebook from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $212.00 to $180.00 in a research note on Thursday, July 26th. Finally, Raymond James cut Facebook from a “strong-buy” rating to an “outperform” rating and set a $210.00 price objective on the stock. in a research note on Thursday, July 26th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the stock. Facebook presently has a consensus rating of “Buy” and a consensus target price of $197.27.

NASDAQ FB traded up $8.20 during mid-day trading on Wednesday, hitting $154.42. The company’s stock had a trading volume of 921,741 shares, compared to its average volume of 24,024,000. Facebook has a twelve month low of $139.03 and a twelve month high of $218.62. The company has a market cap of $422.30 billion, a P/E ratio of 25.07, a PEG ratio of 0.90 and a beta of 0.42.

Facebook (NASDAQ:FB) last posted its quarterly earnings results on Tuesday, October 30th. The social networking company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.30. Facebook had a net margin of 39.31% and a return on equity of 28.16%. The business had revenue of $13.73 billion during the quarter, compared to the consensus estimate of $13.82 billion. During the same quarter last year, the firm posted $1.59 EPS. Facebook’s revenue was up 32.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Facebook will post 7.05 EPS for the current fiscal year.

In related news, CEO Mark Zuckerberg sold 210,000 shares of Facebook stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $185.45, for a total value of $38,944,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Colin Stretch sold 750 shares of Facebook stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $184.98, for a total value of $138,735.00. Following the completion of the sale, the vice president now directly owns 86,365 shares of the company’s stock, valued at approximately $15,975,797.70. The disclosure for this sale can be found here. In the last three months, insiders sold 3,622,884 shares of company stock valued at $640,571,897. 16.25% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Marble Arch Investments LP grew its holdings in shares of Facebook by 40.8% during the first quarter. Marble Arch Investments LP now owns 451,900 shares of the social networking company’s stock worth $72,209,000 after purchasing an additional 130,900 shares in the last quarter. Knott David M purchased a new position in shares of Facebook during the first quarter worth about $3,196,000. Immersion Capital LLP purchased a new position in shares of Facebook during the first quarter worth about $65,194,000. Natixis grew its holdings in shares of Facebook by 420.1% during the first quarter. Natixis now owns 789,988 shares of the social networking company’s stock worth $126,232,000 after purchasing an additional 638,106 shares in the last quarter. Finally, City Financial Investment Co Ltd purchased a new position in shares of Facebook during the first quarter worth about $15,979,000. 60.30% of the stock is owned by institutional investors.

Facebook Company Profile

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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