Traders Sell Shares of Facebook (FB) on Strength Following Insider Selling

Investors sold shares of Facebook, Inc. (NASDAQ:FB) on strength during trading on Wednesday following insider selling activity. $553.22 million flowed into the stock on the tick-up and $751.92 million flowed out of the stock on the tick-down, for a money net flow of $198.70 million out of the stock. Of all equities tracked, Facebook had the 0th highest net out-flow for the day. Facebook traded up $3.10 for the day and closed at $186.90Specifically, CEO Mark Zuckerberg sold 237,000 shares of the firm’s stock in a transaction on Monday, May 21st. The shares were sold at an average price of $184.32, for a total value of $43,683,840.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jan Koum sold 10,695 shares of the firm’s stock in a transaction on Monday, May 14th. The stock was sold at an average price of $187.01, for a total transaction of $2,000,071.95. The disclosure for this sale can be found here. Insiders have sold 12,119,208 shares of company stock valued at $2,142,892,497 in the last three months. 17.23% of the stock is currently owned by corporate insiders.

FB has been the subject of a number of research analyst reports. ValuEngine raised shares of Facebook from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Macquarie reiterated a “buy” rating and issued a $200.00 price objective on shares of Facebook in a research note on Tuesday, March 20th. Vetr upgraded shares of Facebook from a “buy” rating to a “strong-buy” rating and set a $209.16 price objective on the stock in a research note on Thursday, January 25th. Zacks Investment Research lowered shares of Facebook from a “hold” rating to a “sell” rating in a research note on Wednesday, April 11th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and issued a $242.00 price objective on shares of Facebook in a research note on Tuesday, April 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating, forty have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $217.37.

The company has a market capitalization of $542.94 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 1.00 and a beta of 0.78.

Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, April 25th. The social networking company reported $1.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.44. The firm had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $11.41 billion. Facebook had a net margin of 40.03% and a return on equity of 27.74%. The company’s revenue for the quarter was up 49.0% on a year-over-year basis. During the same period last year, the firm posted $1.04 earnings per share. analysts expect that Facebook, Inc. will post 7.64 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the company. Dowling & Yahnke LLC raised its stake in Facebook by 0.6% during the fourth quarter. Dowling & Yahnke LLC now owns 43,370 shares of the social networking company’s stock worth $7,653,000 after purchasing an additional 270 shares during the period. Winslow Evans & Crocker Inc. raised its stake in Facebook by 2.2% during the fourth quarter. Winslow Evans & Crocker Inc. now owns 13,094 shares of the social networking company’s stock worth $2,310,000 after purchasing an additional 276 shares during the period. First Hawaiian Bank raised its stake in Facebook by 11.6% during the fourth quarter. First Hawaiian Bank now owns 2,698 shares of the social networking company’s stock worth $476,000 after purchasing an additional 281 shares during the period. Venturi Wealth Management LLC raised its stake in Facebook by 8.5% during the fourth quarter. Venturi Wealth Management LLC now owns 3,627 shares of the social networking company’s stock worth $640,000 after purchasing an additional 284 shares during the period. Finally, Parsec Financial Management Inc. raised its stake in Facebook by 0.9% during the fourth quarter. Parsec Financial Management Inc. now owns 31,597 shares of the social networking company’s stock worth $5,576,000 after purchasing an additional 285 shares during the period. 59.34% 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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