Traders Buy Facebook (FB) on Weakness Following Insider Selling

Investors bought shares of Facebook Inc (NASDAQ:FB) on weakness during trading hours on Thursday after an insider sold shares in the company. $455.50 million flowed into the stock on the tick-up and $357.35 million flowed out of the stock on the tick-down, for a money net flow of $98.15 million into the stock. Of all equities tracked, Facebook had the highest net in-flow for the day. Facebook traded down ($0.07) for the day and closed at $187.77Specifically, VP David B. Fischer sold 4,699 shares of the stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $171.53, for a total transaction of $806,019.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jan Koum sold 2,600,000 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $180.09, for a total transaction of $468,234,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,182,199 shares of company stock valued at $752,724,430. Company insiders own 17.23% of the company’s stock.

A number of research firms have recently weighed in on FB. BidaskClub raised shares of Facebook from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Vetr raised shares of Facebook from a “buy” rating to a “strong-buy” rating and set a $210.43 target price for the company in a research report on Wednesday. UBS Group set a $215.00 target price on shares of Facebook and gave the company a “buy” rating in a research report on Thursday. Morgan Stanley set a $215.00 target price on shares of Facebook and gave the company a “buy” rating in a research report on Friday. Finally, Stifel Nicolaus downgraded shares of Facebook from a “buy” rating to a “hold” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, forty-two have issued a buy rating and three have given a strong buy rating to the stock. Facebook has an average rating of “Buy” and an average price target of $203.72.

The company has a market cap of $521,210.00, a P/E ratio of 33.34, a PEG ratio of 1.07 and a beta of 0.68.

Facebook (NASDAQ:FB) last posted its earnings results on Wednesday, November 1st. The social networking company reported $1.59 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $9.84 billion. During the same period in the prior year, the company posted $1.09 EPS. The business’s revenue for the quarter was up 47.3% compared to the same quarter last year. analysts predict that Facebook Inc will post 5.86 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Country Trust Bank raised its position in shares of Facebook by 550.6% during the 4th quarter. Country Trust Bank now owns 566 shares of the social networking company’s stock valued at $100,000 after buying an additional 479 shares in the last quarter. D. Scott Neal Inc. raised its position in shares of Facebook by 1,358.0% during the 2nd quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock valued at $110,000 after buying an additional 679 shares in the last quarter. Moisand Fitzgerald Tamayo LLC purchased a new stake in shares of Facebook during the 3rd quarter valued at $111,000. Mountain Capital Investment Advisors Inc purchased a new stake in shares of Facebook during the 2nd quarter valued at $138,000. Finally, Vigilant Capital Management LLC raised its position in shares of Facebook by 17.8% during the 2nd quarter. Vigilant Capital Management LLC now owns 991 shares of the social networking company’s stock valued at $150,000 after buying an additional 150 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

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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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