Peterson Wealth Advisors LLC acquired a new stake in Facebook, Inc. (NASDAQ:FB) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 725 shares of the social networking company’s stock, valued at approximately $214,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. RBA Wealth Management LLC bought a new position in Facebook during the first quarter worth about $25,000. Flagship Private Wealth LLC bought a new stake in shares of Facebook during the fourth quarter worth approximately $25,000. DB Wealth Management Group LLC acquired a new stake in shares of Facebook in the fourth quarter valued at approximately $27,000. Klaas Financial Asset Advisors LLC acquired a new stake in shares of Facebook in the fourth quarter valued at approximately $27,000. Finally, Litman Gregory Asset Management LLC acquired a new stake in shares of Facebook in the fourth quarter valued at approximately $27,000. Institutional investors own 64.95% of the company’s stock.
Facebook stock opened at $322.58 on Tuesday. Facebook, Inc. has a 52 week low of $198.76 and a 52 week high of $331.81. The stock has a market capitalization of $918.60 billion, a P/E ratio of 36.74, a PEG ratio of 1.29 and a beta of 1.18. The stock has a 50-day simple moving average of $299.41 and a 200 day simple moving average of $277.60.
Several research analysts have commented on the stock. Cowen boosted their price objective on shares of Facebook from $350.00 to $360.00 and gave the company an “outperform” rating in a research report on Wednesday, April 21st. Pivotal Research upped their target price on shares of Facebook from $315.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, January 28th. Oppenheimer upped their target price on shares of Facebook from $350.00 to $375.00 and gave the stock an “outperform” rating in a report on Thursday, April 29th. Wolfe Research assumed coverage on shares of Facebook in a report on Wednesday, March 31st. They issued an “outperform” rating on the stock. Finally, Canaccord Genuity upped their target price on shares of Facebook from $350.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, April 29th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $368.11.
In other Facebook news, CAO Susan J.S. Taylor sold 2,707 shares of the company’s stock in a transaction on Thursday, February 18th. The shares were sold at an average price of $269.47, for a total transaction of $729,455.29. Following the sale, the chief accounting officer now owns 3,147 shares of the company’s stock, valued at $848,022.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 44,750 shares of the company’s stock in a transaction on Wednesday, March 3rd. The shares were sold at an average price of $257.63, for a total transaction of $11,528,942.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,739,851 shares of company stock valued at $501,146,451. Company insiders own 14.14% of the company’s stock.
Facebook, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices 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 private messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application that is used by people and businesses to communicate in a private way.
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