Facebook, Inc. (NASDAQ:FB) – Research analysts at KeyCorp increased their Q2 2021 EPS estimates for shares of Facebook in a research note issued on Wednesday, April 28th. KeyCorp analyst J. Patterson now expects that the social networking company will post earnings per share of $3.24 for the quarter, up from their previous forecast of $2.57. KeyCorp currently has a “Overweight” rating and a $414.00 target price on the stock. KeyCorp also issued estimates for Facebook’s Q3 2021 earnings at $3.09 EPS, Q4 2021 earnings at $3.91 EPS, FY2021 earnings at $13.54 EPS and FY2022 earnings at $16.48 EPS.
Facebook (NASDAQ:FB) last announced its quarterly earnings results on Wednesday, April 28th. The social networking company reported $3.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.36 by $0.94. Facebook had a net margin of 32.00% and a return on equity of 23.27%. The company had revenue of $26.20 billion for the quarter, compared to analyst estimates of $23.61 billion. During the same quarter in the prior year, the business posted $1.71 EPS. Facebook’s quarterly revenue was up 47.7% on a year-over-year basis.
Shares of FB opened at $318.36 on Monday. The company’s fifty day moving average is $300.49 and its 200-day moving average is $277.89. Facebook has a 12 month low of $200.69 and a 12 month high of $331.81. The firm has a market cap of $906.58 billion, a price-to-earnings ratio of 36.26, a price-to-earnings-growth ratio of 1.29 and a beta of 1.18.
In related news, CFO David M. Wehner sold 678 shares of Facebook stock in a transaction that occurred on Friday, March 19th. The shares were sold at an average price of $289.99, for a total transaction of $196,613.22. Following the transaction, the chief financial officer now owns 34,425 shares of the company’s stock, valued at approximately $9,982,905.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 44,750 shares of Facebook stock in a transaction that occurred on Friday, February 5th. The stock was sold at an average price of $267.92, for a total transaction of $11,989,420.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,695,101 shares of company stock valued at $489,198,649. 14.14% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in FB. Norges Bank bought a new position in Facebook in the fourth quarter valued at approximately $8,021,574,000. Morgan Stanley lifted its position in shares of Facebook by 44.5% in the fourth quarter. Morgan Stanley now owns 30,382,192 shares of the social networking company’s stock worth $8,299,199,000 after purchasing an additional 9,362,408 shares in the last quarter. Itau Unibanco Holding S.A. lifted its position in shares of Facebook by 1,791.4% in the fourth quarter. Itau Unibanco Holding S.A. now owns 7,405,858 shares of the social networking company’s stock worth $18,849,000 after purchasing an additional 7,014,302 shares in the last quarter. Cibc World Markets Corp lifted its position in shares of Facebook by 357.0% in the fourth quarter. Cibc World Markets Corp now owns 4,219,334 shares of the social networking company’s stock worth $1,152,553,000 after purchasing an additional 3,296,086 shares in the last quarter. Finally, D1 Capital Partners L.P. lifted its position in shares of Facebook by 64.4% in the fourth quarter. D1 Capital Partners L.P. now owns 3,642,789 shares of the social networking company’s stock worth $995,064,000 after purchasing an additional 1,427,000 shares in the last quarter. 64.95% of the stock is currently owned by hedge funds and other institutional investors.
Facebook Company Profile
Facebook, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and private messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application that is used by people and businesses to communicate in a private way.
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