Facebook Inc (NASDAQ:FB) today has announced a partnership with Uber, leaving things open to other ride-sharing companies in the future as well. As a part of this partnership Facebook Inc (NASDAQ:FB) will now enable users to request a ride to a particular address within their messenger application. For instance if a friend tells you to meet them at a particular address, users can click the address and quickly request a ride to that address. An Uber driver will then come pick the user up and take them to the address requested.
“Today, we’re expanding the services available to you with our launch of transportation on Messenger,” wrote Seth Rosenberg, Product Manager at Facebook. “With this new feature, you can request a ride from a car service without ever needing to download an extra app or leave a conversation. It’s super easy and doesn’t take you away from the plans that you’re making with your friends or family.”
The stock is currently trading higher by 1.21% or $1.27 following the positive news, hitting $105.82 per share at the time of us publishing this article. About 9.26 million shares traded hands. FB has risen 33.29% since May 13, 2015 and is uptrending. It has outperformed the S&P500 by 36.96%.
From a total of 33 analysts covering Facebook (NASDAQ:FB) stock, 32 rate it a “Buy”, 1 a “Sell”, and 0 a “Hold”. This means that 97% of the ratings are positive. The highest target price is $155.0 while the lowest target price is $88. The mean of all analyst targets is $122.65 which is 15.90% above today’s ($105.82) stock price. Facebook was the topic of 58 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Argus Research maintained shares on November 6 with a “Buy” rating. Morgan Stanley maintained shares with a”Overweight” rating and a $120 target share price in their report from a November 5. Canaccord Genuity maintained FB stock in a recent report from November 5 with a “Buy” rating. Credit Suisse maintained the rating on November 5. Credit Suisse has a “Outperform” rating and a $135 price target on shares. Finally, Jefferies maintained the stock with a “Buy” rating in a report they issued on a November 5.
The institutional sentiment increased to 1.73 in Q2 2015. It’s up 0.01, from 1.72 in 2015Q2. The ratio increased, as 69 funds sold all their Facebook Inc shares they owned while 375 reduced their positions. 126 funds bought stakes while 643 increased their total positions. Institutions now own 1.55 billion shares which is 2.48% more than the previous share count of 1.51 billion in 2015Q2.
Millennium Tvp Management Co. Llc holds 52.76% of its total portfolio in Facebook Inc, equating to 639,552 shares. Parametric Risk Advisors Llc owns 7.97 million shares representing 46.51% of their total US portfolio. Moreover, Sc Us (Ttgp) Ltd. has 41.15% of their total portfolio invested in the company, equating to 1.04 million shares. The California-based Meritech Capital Associates Iii L.L.C. has a total of 37.81% of their portfolio invested in the stock. Duquesne Family Office Llc, a New York-based fund reported 4.09 million shares owned.
Since February 25, 2015, the stock had 0 buys, and 54 sales for a total of $207.62 million in net activity. Athwal Jas sold 30,000 shares worth $3.06M. 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 $299.22 billion. The Firm is engaged in developing products that enables users to connect and share through mobile devices and personal computers. It has 106.31 P/E ratio. It offers various services focused on people, marketers and developers.