Home Technology Facebook Inc (FB) Insiders Unload Shares As Analysts Boost PTs

Facebook Inc (FB) Insiders Unload Shares As Analysts Boost PTs

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Happy with the performance of their company’s stock, Facebook Inc (NASDAQ:FB) insiders have continued to unload their stock, turning their paper profits into cash money or, in one case, donations. And they’re not the only ones who are happy. Analysts have been just as happy as the insiders have been with the social network’s stock performance. Indeed, Facebook appears to have been transformed into a Wall Street darling over the last year or so.

Facebook Inc (FB) Insiders Unload Shares As Analysts Boost PTs

Facebook’s Schroepfer, Ebersman, others sell, donate shares

All Facebook reports that filings with the Securities and Exchange Commission show that several executives at Facebook Inc (NASDAQ:FB) have unloaded some of their shares by either selling or donating them. Mike Schroepfer, chief technology officer, donated 50,000 shares of the social network’s stock to charity, leaving him with about 290,000 shares.

Business and Marketing Partnerships VP David Fischer sold two sets of 18,000 Class A shares for between $67 and $68 a share. That left him with nearly 490,000 shares of Facebook Inc (NASDAQ:FB). Chief Financial Officer David Ebersman sold two sets of nearly 12,000 shares apiece for between $67 and $70 a share. That left him with a little over 315,000 shares of Facebook. Chief Accounting Officer Jas Athwal amended his trading plan, saying he sold about 11,500 Class A shares for just under $67 each, which left him with nearly 137,000 shares of Facebook.

Analysts raised price targets for Facebook

Meanwhile analysts at Needham & Company have raised their price target for Facebook Inc (NASDAQ:FB) from $65 to $80 a share. The firm continues to rate the social network as a Buy. Other analysts have also upped their price targets recently, with Janney Montgomery Scott raising the target for Facebook to $71 a share, Pivotal Research bumping it from $65 to $66 a share , and Evercore Partners raising their price target from $70 to $60 a share.

All of these price target increases have been reported within the last week or so.

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