Wells Fargo & Company Reiterates “Buy” Rating for Facebook (FB)

Facebook (NASDAQ:FB)‘s stock had its “buy” rating restated by Wells Fargo & Company in a research note issued on Tuesday. They presently have a $215.00 price objective on the social networking company’s stock. Wells Fargo & Company’s price objective indicates a potential upside of 24.40% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Vetr raised shares of Facebook from a “hold” rating to a “buy” rating and set a $180.74 price target for the company in a research report on Monday, September 25th. Morgan Stanley reissued an “overweight” rating and issued a $195.00 price target (up previously from $190.00) on shares of Facebook in a research report on Monday, October 2nd. Pivotal Research reissued a “sell” rating and issued a $140.00 price target on shares of Facebook in a research report on Wednesday, September 6th. Atlantic Securities set a $215.00 price target on shares of Facebook and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $185.00 price target on shares of Facebook in a research report on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, forty-two have assigned a buy rating and three have given a strong buy rating to the company’s stock. Facebook presently has a consensus rating of “Buy” and a consensus target price of $200.70.

Facebook (FB) traded up $1.36 during midday trading on Tuesday, hitting $172.83. 20,184,900 shares of the company traded hands, compared to its average volume of 16,932,129. Facebook has a twelve month low of $114.77 and a twelve month high of $184.25. The company has a market capitalization of $509,100.00, a PE ratio of 33.04, a PEG ratio of 1.09 and a beta of 0.69.

Facebook (NASDAQ:FB) last released its earnings results on Wednesday, November 1st. The social networking company reported $1.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.31. Facebook had a net margin of 41.69% and a return on equity of 23.64%. The business had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $9.84 billion. During the same quarter last year, the company earned $1.09 earnings per share. The firm’s revenue was up 47.3% on a year-over-year basis. research analysts predict that Facebook will post 5.86 EPS for the current year.

In other news, CEO Mark Zuckerberg sold 247,147 shares of Facebook stock in a transaction on Friday, September 8th. The shares were sold at an average price of $171.96, for a total transaction of $42,499,398.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP David B. Fischer sold 16,621 shares of Facebook stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $183.51, for a total transaction of $3,050,119.71. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,195,022 shares of company stock worth $924,578,276. Insiders own 17.23% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. AXA lifted its position in Facebook by 3.5% in the 3rd quarter. AXA now owns 1,477,383 shares of the social networking company’s stock valued at $252,441,000 after acquiring an additional 49,340 shares in the last quarter. Shelton Capital Management lifted its position in Facebook by 0.4% in the 3rd quarter. Shelton Capital Management now owns 265,019 shares of the social networking company’s stock valued at $45,284,000 after acquiring an additional 939 shares in the last quarter. Institutional & Family Asset Management LLC bought a new stake in Facebook in the 3rd quarter valued at $513,000. Steward Partners Investment Advisory LLC bought a new stake in Facebook in the 3rd quarter valued at $22,763,000. Finally, Public Employees Retirement System of Ohio lifted its position in Facebook by 0.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,681,240 shares of the social networking company’s stock valued at $287,273,000 after acquiring an additional 8,878 shares in the last quarter. 57.86% 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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