Facebook Inc (NASDAQ:FB) may be about to expand in a big way. According to reports the world’s largest social networking platform may be about to take a page out of Linkedin’s playbook and launch a business version of their social network. The new Facebook version will work a lot differently than Linkedin however.
“The fundamental idea behind Facebook at Work is that a more connected workplace is a more productive workplace,” said Julien Codorniou, director of global platform partnerships for Facebook at Work.
Facebook has already been testing this new platform out internally among its own employees and recently began a trial of the platform with 60,000 companies around the globe. In addition to this, over the last 6 months they have been working with 300 larger companies such as Heineken NV, RBS and others to refine the platform and figure out what it may be lacking. RBS has confirmed that by 2016 they will have rolled the platform out to 50,000 of their employees, and sources have confirmed that Facebook Inc (NASDAQ:FB) is looking to officially launch the platform sometime in 2016.
The stock increased 0.70% or $0.73 during the last trading session, hitting $104.77. About 18,950 shares traded hands. FB has risen 29.94% since May 19, 2015 and is uptrending. It has outperformed the S&P500 by 32.20%.
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 17.07% above today’s ($104.77) 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 52 selling transactions for a total of $207.14 million in 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 $294.22 billion. The Firm is engaged in developing products that enables users to connect and share through mobile devices and personal computers. It has 105.25 P/E ratio. It offers various services focused on people, marketers and developers.