Facebook Inc (FB) CTO Sells 29,784 Shares In Open Market

Facebook Inc (NASDAQ:FB) CTO Michael Todd Schroepfer, in a transaction dated Tuesday, June 17th, sold 29,784 shares of the company’s stock. The shares were sold at an average price of $64.07, and the total transaction amounted to $1,908,260.88. After the sale, Schroepfer directly owns 191,451 shares of the company valued at approximately $12,266,266, according to the filing with the SEC.

Facebook Inc (FB) CTO Sells 29,784 Shares In Open Market

Recent insider selling at Facebook

Last week, FB VP David B. Fischer sold 36,000 shares of the social networker at an average price of $65.58 for a total amounting $2.4 million. After the sale, VP directly owns 399,199 shares worth around $26.2 million, according to a regulatory filing with SEC.

Also, on Tuesday last week, Facebook Inc (NASDAQ:FB) VP Colin Stretch unloaded 5000 shares of the company in the open market at an average price of $65 amounting to $325,000. Following the sale, Stretch now directly holds 58,328 shares valuing around $3.8 million.

Declining short interest

Facebook Inc (NASDAQ:FB) shares have a 52-week low of $23.38 and a 52-week high of $72.59. The 50-day moving average of the stock is $61 and the 200-day moving average is $60.66. In the month of May, the social networker witnessed a decline in short interest. Total short interest as on May 30th was 44,556,753 shares, which is a decline of 3.4% from the 46,127,937 shares sold short on May 15th. Based on the numbers, around 2.3% of the company’s shares are sold short.

Many analysts have come out with their opinion on Facebook Inc (NASDAQ:FB) over the last few weeks. In a research note on Wednesday, May 28th, Zacks analysts reiterated their  Neutral rating on the social networker with a price target of $67.00. Analysts at Evercore Partners, in a note issued on Thursday, May 22nd, upgraded the stock from an Equal Weight rating to an Overweight rating, and raised the price target from $69.00 to $75.00. Cantor Fitzgerald analysts reiterated a Buy on the stock, in a research note released on Tuesday, May 20th.

Seven analysts have given the company a Hold rating, while thirty-one rate the stock as a Buy. Presently, Facebook has a consensus rating of Buy and a consensus price target of $73.89.

On Tuesday, Facebook Inc (NASDAQ:FB) shares closed up 0.33% at $64.40.

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About the Author

Aman Jain
Aman is MBA (Finance) with an experience on both Marketing and Finance side. He has worked as a Risk Analyst for AIR Worldwide, and is currently leading VeRa FinServ, a Financial Research firm. Favorite pastimes include watching science fiction movies, reviewing tech gadgets, playing PC games and cricket. - Email him at [email protected]

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