Facebook (FB) Trading Down 0.3% on Insider Selling

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Facebook, Inc. (NASDAQ:FB) shares were down 0.3% on Tuesday following insider selling activity. The company traded as low as $131.21 and last traded at $131.17. Approximately 1,029,265 shares were traded during trading, a decline of 96% from the average daily volume of 26,364,964 shares. The stock had previously closed at $131.55.

Specifically, CEO Mark Zuckerberg sold 263,210 shares of the stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $174.21, for a total value of $45,853,814.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Colin Stretch sold 750 shares of the stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $172.20, for a total transaction of $129,150.00. Following the completion of the sale, the vice president now owns 98,394 shares of the company’s stock, valued at approximately $16,943,446.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,860,410 shares of company stock worth $319,020,058. Corporate insiders own 16.25% of the company’s stock.

A number of research firms have recently commented on FB. Macquarie set a $220.00 price objective on shares of Facebook and gave the company a “buy” rating in a research report on Monday, July 23rd. Goldman Sachs Group restated a “buy” rating and issued a $225.00 price objective on shares of Facebook in a research report on Monday, July 23rd. JPMorgan Chase & Co. restated a “$210.91” rating and issued a $242.00 price objective on shares of Facebook in a research report on Monday, July 23rd. BMO Capital Markets reaffirmed a “hold” rating and issued a $210.00 target price (up from $170.00) on shares of Facebook in a research note on Wednesday, July 25th. Finally, Wells Fargo & Co reaffirmed a “buy” rating and issued a $220.00 target price (down from $250.00) on shares of Facebook in a research note on Thursday, July 26th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Facebook has an average rating of “Buy” and a consensus price target of $194.54.

The firm has a market cap of $405.33 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 0.85 and a beta of 0.55.

Facebook (NASDAQ:FB) last issued its quarterly earnings results on Tuesday, October 30th. The social networking company reported $1.76 earnings per share for the quarter, topping 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 company had revenue of $13.73 billion for the quarter, compared to the consensus estimate of $13.82 billion. During the same quarter in the prior year, the business earned $1.59 EPS. Facebook’s revenue was up 32.9% on a year-over-year basis. As a group, research analysts expect that Facebook, Inc. will post 7.35 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in the company. Capital International Investors boosted its position in shares of Facebook by 623.2% in the 3rd quarter. Capital International Investors now owns 30,540,615 shares of the social networking company’s stock valued at $5,022,710,000 after purchasing an additional 26,317,366 shares during the period. Capital Research Global Investors boosted its position in shares of Facebook by 71.5% in the 3rd quarter. Capital Research Global Investors now owns 60,314,380 shares of the social networking company’s stock valued at $9,919,303,000 after purchasing an additional 25,147,288 shares during the period. Summit Trail Advisors LLC boosted its position in shares of Facebook by 4,170.3% in the 1st quarter. Summit Trail Advisors LLC now owns 9,070,939 shares of the social networking company’s stock valued at $9,071,000 after purchasing an additional 8,858,520 shares during the period. Fundsmith Equity Fund L.P. acquired a new stake in shares of Facebook in the 2nd quarter valued at about $1,072,219,000. Finally, Cornerstone Wealth Management LLC boosted its position in shares of Facebook by 21,254.2% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 3,612,283 shares of the social networking company’s stock valued at $18,303,000 after purchasing an additional 3,595,367 shares during the period. 58.98% of the stock is owned by institutional investors and hedge funds.

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About Facebook (NASDAQ:FB)

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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