Facebook (FB) Given New $190.00 Price Target at Royal Bank of Canada

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Facebook (NASDAQ:FB) had its target price decreased by Royal Bank of Canada to $190.00 in a research note released on Wednesday morning, The Fly reports. Royal Bank of Canada currently has an outperform rating on the social networking company’s stock.

Several other research firms have also recently issued reports on FB. BidaskClub cut shares of Facebook from a buy rating to a hold rating in a research report on Tuesday, July 3rd. Zacks Investment Research upgraded shares of Facebook from a hold rating to a buy rating and set a $218.00 price objective for the company in a report on Tuesday, July 3rd. BTIG Research lifted their price target on shares of Facebook from $175.00 to $275.00 and gave the stock a buy rating in a research note on Thursday, July 5th. Societe Generale reiterated a sell rating and issued a $150.00 price target on shares of Facebook in a research note on Friday, July 6th. Finally, ValuEngine upgraded shares of Facebook from a hold rating to a buy rating in a research note on Friday, July 6th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and an average price target of $195.56.

Shares of NASDAQ:FB traded down $1.35 during midday trading on Wednesday, hitting $150.44. The company’s stock had a trading volume of 20,232,329 shares, compared to its average volume of 24,995,324. The company has a market cap of $424.77 billion, a P/E ratio of 24.42, a P/E/G ratio of 0.93 and a beta of 0.42. Facebook has a 12-month low of $139.03 and a 12-month high of $218.62.

Facebook (NASDAQ:FB) last posted its quarterly earnings results on Tuesday, October 30th. The social networking company reported $1.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.30. The firm had revenue of $13.73 billion for the quarter, compared to the consensus estimate of $13.82 billion. Facebook had a net margin of 37.57% and a return on equity of 28.18%. The company’s revenue for the quarter was up 32.9% on a year-over-year basis. During the same period last year, the firm posted $1.59 earnings per share. As a group, analysts expect that Facebook will post 7.06 earnings per share for the current year.

In other news, CEO Mark Zuckerberg sold 602,000 shares of the company’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $176.67, for a total transaction of $106,355,340.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Colin Stretch sold 750 shares of the business’s stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $155.00, for a total transaction of $116,250.00. Following the completion of the sale, the vice president now owns 90,894 shares in the company, valued at $14,088,570. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,626,282 shares of company stock worth $641,081,083. Corporate insiders own 17.23% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in FB. Cribstone Capital Management LLC lifted its holdings in Facebook by 186.2% in the 2nd quarter. Cribstone Capital Management LLC now owns 624 shares of the social networking company’s stock valued at $121,000 after purchasing an additional 406 shares in the last quarter. IMA Wealth Inc. purchased a new position in Facebook in the 2nd quarter valued at about $122,000. Trust Department MB Financial Bank N A purchased a new position in Facebook in the 2nd quarter valued at about $134,000. Aviance Capital Management LLC purchased a new position in Facebook in the 2nd quarter valued at about $151,000. Finally, Arlington Partners LLC purchased a new position in Facebook in the 3rd quarter valued at about $164,000. Institutional investors and hedge funds 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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