Morgan Stanley Lowers Facebook (FB) Price Target to $170.00

Facebook (NASDAQ:FB) had its price objective reduced by Morgan Stanley from $175.00 to $170.00 in a research note published on Wednesday. They currently have an overweight rating on the social networking company’s stock.

Several other research firms have also recently weighed in on FB. Citigroup cut Facebook to a buy rating and cut their price objective for the company from $220.00 to $210.00 in a report on Thursday, July 26th. They noted that the move was a valuation call. Credit Suisse Group set a $265.00 price objective on Facebook and gave the company a buy rating in a report on Monday, July 16th. Goldman Sachs Group reiterated a buy rating and set a $225.00 price objective on shares of Facebook in a report on Monday, July 23rd. Aegis lifted their price objective on Facebook from $206.00 to $215.00 and gave the company a buy rating in a report on Wednesday. Finally, BidaskClub upgraded Facebook from a hold rating to a buy rating in a report on Tuesday, July 17th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and an average price target of $194.54.

Shares of NASDAQ:FB traded down $1.40 during trading on Wednesday, hitting $150.35. 24,478,922 shares of the company’s stock traded hands, compared to its average volume of 26,844,908. Facebook has a 52 week low of $139.03 and a 52 week high of $218.62. The stock has a market capitalization of $440.95 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 0.95 and a beta of 0.55.

Facebook (NASDAQ:FB) last released its quarterly earnings data on Tuesday, October 30th. The social networking company reported $1.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.30. Facebook had a return on equity of 27.89% and a net margin of 37.57%. The business had revenue of $13.73 billion for the quarter, compared to analysts’ expectations of $13.82 billion. During the same quarter in the previous year, the business posted $1.59 EPS. Facebook’s revenue for the quarter was up 32.9% on a year-over-year basis. Equities analysts anticipate that Facebook will post 7.3 earnings per share for the current year.

In other Facebook news, VP Colin Stretch sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $155.00, for a total transaction of $116,250.00. Following the transaction, the vice president now owns 90,894 shares of the company’s stock, valued at approximately $14,088,570. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David B. Fischer sold 2,648 shares of the business’s stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $148.39, for a total value of $392,936.72. The disclosure for this sale can be found here. Insiders have sold a total of 3,416,282 shares of company stock worth $603,782,983 in the last ninety days. Insiders own 17.23% of the company’s stock.

Several large investors have recently bought and sold shares of FB. Cribstone Capital Management LLC increased its holdings in shares of Facebook by 186.2% during the 2nd quarter. Cribstone Capital Management LLC now owns 624 shares of the social networking company’s stock worth $121,000 after acquiring an additional 406 shares during the last quarter. IMA Wealth Inc. acquired a new position in shares of Facebook during the 2nd quarter worth approximately $122,000. Trust Department MB Financial Bank N A acquired a new position in shares of Facebook during the 2nd quarter worth approximately $134,000. Aviance Capital Management LLC acquired a new position in shares of Facebook during the 2nd quarter worth approximately $151,000. Finally, Marino Stram & Associates LLC increased its holdings in shares of Facebook by 115.3% during the 2nd quarter. Marino Stram & Associates LLC now owns 945 shares of the social networking company’s stock worth $184,000 after acquiring an additional 506 shares during the last quarter. 60.30% of the stock is currently owned by hedge funds and other institutional investors.

About Facebook

Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.

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