Facebook is seeing some insider's selling lately. Investors should remain confident on the stock, not paying much heed to the recent lawsuit.
Analysts bullish on Facebook Facebook Inc (FB - Get Report) chief technology officer Mike Schroepfer converted 20,000 class-B shares to class-A common stock, and then sold 20,000 class-A shares at $72.42 a piece. Post transaction, Schroepfer holds 228,997 shares of Facebook class-A common stock. On Monday, August 4 th, Chief Product officer Chris Cox sold 11371 restricted stock units that were due to expire on August 25 th, 2019. Cox, also, sold 4050 class-A shares at $72.1685 per share, 1,884 at $72.7737 a piece and 5,437 at $72.42 each. Facebook shares have received ratings from various research houses recently. S&P Equity research analysts have assigned Average rating to the stock, and assigned a price target of $3.00, in a research note to the investors on July 25 th. Nomura analysts maintained Buy rating with a price target of $82.00, in a research note to the investors on July 24 th. Separately, Raymond James analysts maintained Outperform rating and increased the price target from $77.00 to $80.00, in a research note to the investors on July 24 th. Facebook presently has an average rating of Buy and a consensus target price of $79.11. Investors should not worry about lawsuit Recently, a lawsuit was filed against Facebook accusing the social networker of misusing the personal data. In a short span, the class action lawsuit has gained support of over 17,000 individuals. However, according to a report from Silicon Valley Business journal, investors should not be really worried about this case as this is not the first time when Facebook has gotten into such legal tussle. The social networking site has been accused of collecting data for advertisers, sharing the data with national Security Agency through its PRISM program and conducting mood swing studies on the users.