Facebook Inc (NASDAQ:FB) CTO Michael Todd Schroepfer, sold 20,000 stocks, in a transaction dated Tuesday, July 8th. Todd sold the shares at an average price of $65.06 totaling $1,301,200.00. After the transaction, CTO still holds 191,451 shares, valued at approximately $12,455,802, according to a filing with SEC.
Also, Facebook insider Christopher K. Cox sold 5,437 shares of total holding on the open market in a transaction dated Monday, July 7th. The average price at which Cox unloaded the stock was $360,364.36. Post sales, Cox directly own 574,851 shares of the company’s stock, valued at approximately $38,101,124 according to a filing with SEC.
Analysts bullish on Facebook
Even though the stock tumbled a few days back following the controversial studies, there are analysts, who are still bullish on the stock.
“It’s had an incredible run during the last year, and I think there is still a tremendous amount of upside left in the stock,” said Victor Anthony, an analyst at Topeka Capital. The share price is trading at the high of 160% year over year, which is expected to continue by all means on the back of Facebook Inc’s growth in core marketing business.
Analyst Ron Josey of JMP Securities said that large brands are offering more funds to Facebook everyday, and the core business of the company still holds massive potential. Rosey, who have a Buy rating, say that investors are looking forward to a rapid growth in Facebook this financial season, when the company reports its numbers on July 23rd.
Strong ads segment
Facebook Inc’s average price of ads are sold at an average price of $1.95 cost per 1,000 impressions (CPM), which is a surge of 218% from the previous year, and the cost per click for both desktop and mobile ads has increased 29% year over year, as per the report from Nanigans, the social networkers ad partner.
Anthony of Topeka Capital market, who assigned Buy rating to the stock with a price target of $80, stated that the advertisers are shelling out more money on the Facebook platform owing to its massive user base of 1.2 billion. The analyst believes that Facebook is “entrenched in people’s lives” to the extent that no other platform can replace it. Advertisers will target the users on Facebook as long as they remain there.