Mark Zuckerberg is one of the world’s youngest and most successful bilionaires. How did he obtain his wealth? He is the founder of Facebook Inc (NASDAQ:FB).
Today the CEO and largest shareholder of Facebook has announced that over his lifetime he will gift or direct all of his shares or proceeds from shares of the company to charities and initiatives which help to further the mission of advancing human potential as well as helping to promote equality throughout the world.
“He has informed us that he plans to sell or gift no more than $1B of Facebook stock each year for the next three years and that he intends to retain his majority voting position in our stock for the foreseeable future. Any sale of shares by Mr. Zuckerberg will be conducted pursuant to a trading plan established pursuant to Rule 10b5-1,” the company stated according to TheFly.com.
Zuckerberg currently owns 419 million shares of Class B stock, and 4 million shares of Class A stock.The stock increased 2.76% or $2.88 during the last trading session, hitting $107.12. About 22.47M shares traded hands. FB has risen 29.20% since April 28, 2015 and is uptrending. It has outperformed by 30.83% the S&P500.
Out of 33 analysts covering Facebook (NASDAQ:FB), 32 rate it “Buy”, 1 “Sell”, while 0 “Hold”. This means 97% are positive. $155.0 is the highest target while $88 is the lowest. The $122.65 average target is 14.50% above today’s ($107.12) stock price. Facebook was the topic in 58 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Argus Research maintained the stock on November 6 with “Buy” rating. Morgan Stanley maintained it with “Overweight” rating and $120 target price in a November 5 report. Canaccord Genuity maintained the shares of FB in a report on November 5 with “Buy” rating. Credit Suisse maintained the firm’s rating on November 5. Credit Suisse has “Outperform” rating and $135 price target. Finally, Jefferies maintained the stock with “Buy” rating in a November 5 report.
The institutional sentiment increased to 1.72 in Q2 2015. Its up 0.19, from 1.53 in 2015Q1. The ratio is positive, as 63 funds sold all Facebook Inc shares owned while 356 reduced positions. 143 funds bought stakes while 579 increased positions. They now own 1.51 billion shares or 2.84% less from 1.56 billion shares in 2015Q1.
Millennium Tvp Management Co. Llc holds 63.75% of its portfolio in Facebook Inc for 776,552 shares. Sc Us (Ttgp) Ltd. owns 1.04 million shares or 42.21% of their US portfolio. Moreover, Parametric Risk Advisors Llc has 40.65% invested in the company for 7.15 million shares. The California-based Technology Crossover Management Vi L.L.C. has invested 37.88% in the stock. Meritech Capital Associates Iii L.L.C., a California-based fund reported 1.07 million shares.
Since February 25, 2015, the stock had 0 insider buys, and 58 sales for $211.53 million net activity. Athwal Jas sold 30,000 shares worth $3.06 million. Stretch Colin sold 1,000 shares worth $98,710. Cox Christopher K sold 5,778 shares worth $561,622. Schroepfer Michael Todd sold 31,283 shares worth $3.00 million. The insider Fischer David B. sold 15,000 shares worth $1.43 million.
Facebook, Inc. is a social networking company. The company has a market cap of $299.20 billion. The Firm is engaged in developing products that enables users to connect and share through mobile devices and personal computers. It has 107.61 P/E ratio. It offers various services focused on people, marketers and developers.