Piper Jaffray Companies began coverage on shares of Facebook (NASDAQ:FB) in a research note published on Tuesday, Benzinga reports. The brokerage issued an overweight rating and a $230.00 price target on the social networking company’s stock. Piper Jaffray Companies also issued estimates for Facebook’s Q1 2021 earnings at $2.38 EPS, Q2 2021 earnings at $2.62 EPS, Q3 2021 earnings at $2.71 EPS and FY2021 earnings at $10.88 EPS.
FB has been the subject of several other research reports. BMO Capital Markets reduced their target price on shares of Facebook from $197.00 to $185.00 and set a market perform rating for the company in a report on Thursday, October 31st. Jefferies Financial Group reiterated a buy rating and issued a $250.00 price target on shares of Facebook in a research note on Thursday, October 31st. Goldman Sachs Group set a $231.00 price target on shares of Facebook and gave the stock a buy rating in a research report on Wednesday, October 30th. Rosenblatt Securities set a $242.00 price objective on shares of Facebook and gave the stock a buy rating in a research note on Tuesday, October 15th. Finally, BidaskClub upgraded Facebook from a sell rating to a hold rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and forty-one have given a buy rating to the company. Facebook presently has a consensus rating of Buy and a consensus target price of $229.19.
Shares of Facebook stock opened at $198.82 on Tuesday. The firm has a market cap of $575.03 billion, a PE ratio of 26.26, a P/E/G ratio of 1.13 and a beta of 1.05. The business’s 50 day simple moving average is $193.20 and its 200 day simple moving average is $188.31. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.66 and a current ratio of 4.66. Facebook has a 52-week low of $123.02 and a 52-week high of $208.66.
In other news, COO Sheryl Sandberg sold 55,000 shares of Facebook stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $180.92, for a total value of $9,950,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 76,484 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $175.34, for a total value of $13,410,704.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,541,528 shares of company stock worth $658,937,352. 14.53% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the business. Nuveen Asset Management LLC boosted its position in shares of Facebook by 5,336.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 22,496,340 shares of the social networking company’s stock worth $4,341,794,000 after acquiring an additional 22,082,561 shares in the last quarter. Invesco Ltd. raised its position in Facebook by 36.5% during the second quarter. Invesco Ltd. now owns 35,051,341 shares of the social networking company’s stock valued at $6,764,908,000 after purchasing an additional 9,368,684 shares in the last quarter. Viking Global Investors LP raised its position in Facebook by 231.7% during the second quarter. Viking Global Investors LP now owns 7,063,705 shares of the social networking company’s stock valued at $1,363,295,000 after purchasing an additional 4,934,406 shares in the last quarter. BlackRock Inc. lifted its stake in Facebook by 2.8% during the second quarter. BlackRock Inc. now owns 151,662,410 shares of the social networking company’s stock worth $29,270,846,000 after purchasing an additional 4,114,043 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Facebook by 2.0% during the second quarter. Vanguard Group Inc. now owns 180,682,575 shares of the social networking company’s stock worth $34,871,738,000 after purchasing an additional 3,465,756 shares during the last quarter. Hedge funds and other institutional investors own 63.81% of the company’s stock.
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.
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