If you live in Brazil and frequently use Facebook Inc’s (NASDAQ:FB) WhatsApp to communicate with your friends, family and colleagues, than you will be in for quite a surprise this morning. A Brazilian court has shut the app and service down for 48 hours after they claim that Facebook refused to cooperate with specific criminal proceedings. The specifics on these cases that Facebook Inc (NASDAQ:FB) did not comply have not been released. Despite this news shares of Facebook are up slightly in pre-market trading this morning.
“We are working hard to get this block reversed. Until then, Facebook Messenger is still active and you can use it to communicate instead,” wrote Facebook CEO Mark Zuckerberg. “This is a sad day for Brazil. Until today, Brazil has been an ally in creating an open internet. Brazilians have always been among the most passionate in sharing their voice online.”
The stock closed at $106.79 during the last trading session. It is up 31.24% since May 14, 2015 and is uptrending. It has outperformed the S&P500 by 34.92%.
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 14.85% above today’s ($106.79) 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 improved, 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 insider purchases, and 54 selling transactions 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 $1.43M.
Facebook, Inc. is a social networking company. The company has a market cap of $302.00 billion. The Firm is engaged in developing products that enables users to connect and share through mobile devices and personal computers. It has 107.28 P/E ratio. It offers various services focused on people, marketers and developers.