Traders Buy Shares of Facebook (FB) on Weakness Following Insider Selling

Investors bought shares of Facebook, Inc. (NASDAQ:FB) on weakness during trading hours on Friday after an insider sold shares in the company. $1,791.61 million flowed into the stock on the tick-up and $1,580.29 million flowed out of the stock on the tick-down, for a money net flow of $211.32 million into the stock. Of all companies tracked, Facebook had the 6th highest net in-flow for the day. Facebook traded down ($2.14) for the day and closed at $157.20Specifically, CEO Mark Zuckerberg sold 290,000 shares of the stock in a transaction dated Wednesday, April 4th. The stock was sold at an average price of $154.14, for a total transaction of $44,700,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP David B. Fischer sold 5,587 shares of the stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $187.66, for a total value of $1,048,456.42. The disclosure for this sale can be found here. Insiders have sold 6,520,955 shares of company stock valued at $1,148,179,674 in the last quarter. 17.23% of the stock is currently owned by company insiders.

FB has been the subject of several research analyst reports. Morgan Stanley set a $215.00 price target on Facebook and gave the company a “buy” rating in a report on Friday, January 12th. Wedbush set a $260.00 price target on Facebook and gave the company a “buy” rating in a report on Friday, March 23rd. Wells Fargo restated an “outperform” rating and set a $230.00 price target (up previously from $215.00) on shares of Facebook in a report on Monday, January 8th. Pivotal Research restated a “sell” rating and set a $147.00 price target on shares of Facebook in a report on Monday, January 8th. Finally, SunTrust Banks raised their price target on Facebook to $240.00 and gave the company a “buy” rating in a report on Friday, January 12th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating, forty have given a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $212.78.

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The stock has a market cap of $462,882.69, a price-to-earnings ratio of 25.52, a price-to-earnings-growth ratio of 0.86 and a beta of 0.79.

Facebook (NASDAQ:FB) last issued its earnings results on Wednesday, January 31st. The social networking company reported $2.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.96 by $0.24. The business had revenue of $12.97 billion during the quarter, compared to analyst estimates of $12.58 billion. Facebook had a return on equity of 26.49% and a net margin of 39.16%. research analysts anticipate that Facebook, Inc. will post 7.18 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Beach Investment Management LLC. raised its position in shares of Facebook by 999.7% in the 2nd quarter. Beach Investment Management LLC. now owns 121,630 shares of the social networking company’s stock worth $18,364,000 after acquiring an additional 110,570 shares in the last quarter. Heritage Trust Co raised its position in shares of Facebook by 26.7% in the 2nd quarter. Heritage Trust Co now owns 10,203 shares of the social networking company’s stock worth $1,540,000 after acquiring an additional 2,148 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Facebook by 45.7% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 2,214,188 shares of the social networking company’s stock worth $334,298,000 after acquiring an additional 694,820 shares in the last quarter. Quinn Opportunity Partners LLC raised its position in shares of Facebook by 26.7% in the 2nd quarter. Quinn Opportunity Partners LLC now owns 9,500 shares of the social networking company’s stock worth $1,434,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Glassman Wealth Services raised its position in shares of Facebook by 14.4% in the 2nd quarter. Glassman Wealth Services now owns 3,422 shares of the social networking company’s stock worth $517,000 after acquiring an additional 431 shares in the last quarter. 58.46% of the stock is owned by institutional investors and hedge funds.

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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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