Facebook shares close lower on Monday, over $23 million spent on CEO Zuckerberg’s security and private air travel in 2019

According to a SEC filing published last week, Facebook Inc (FB) spent $23.4 million to cover security and private air travel costs of its Chief Executive Mark Zuckerberg in 2019. That compares with nearly $20 million spent in 2018 and $9.1 million spent in 2017.

The CEO’s annual salary was still $1 in 2019.

Facebook shares closed lower for the fourth time in the past ten trading sessions on NASDAQ on Monday. The stock edged down 0.23% ($0.40) to $174.79, after touching an intraday low at $169.46, or a price level not seen since April 8th ($167.80).

Shares of Facebook Inc have retreated 14.84% so far in 2020 compared with a 14.52% loss for the benchmark index, S&P 500 (SPX).

In 2019, Facebook Inc’s stock went up 56.57%, thus, it outperformed the S&P 500, which registered a 28.88% gain.

The filing showed that “approximately $10,463,717” were spent on “personal security for Zuckerberg at his home and during his personal travel.” Additionally, another $10 million were spent on the CEO’s protection and that of his family. In comparison, the social media company spent $9.95 million on private security in 2018 and $7.5 million in 2017.

According to the SEC filing, $2.95 million were required for Zuckerberg’s private aircraft costs last year compared with $2.59 million in 2018 and $1.52 million in 2017.

At the same time, Sheryl Sandberg, the company’s Chief Operating Officer, received a base salary of a bit more than $875,000 last year compared with $843,000 in 2018. She also received a bonus of $902,740 and stock awards of $19.67 million in 2019.

Analyst stock price forecast and recommendation

According to CNN Money, the 46 analysts, offering 12-month forecasts regarding Facebook Inc’s stock price, have a median target of $224.00, with a high estimate of $300.00 and a low estimate of $120.00. The median estimate represents a 28.15% upside compared to the closing price of $174.79 on April 13th.

The same media also reported that at least 39 out of 51 surveyed investment analysts had rated Facebook Inc’s stock as “Buy”, while 5 – as “Hold”. On the other hand, 3 analysts had recommended selling the stock.

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