While it seems like an eternity since the first demo of Facebook Inc’s (NASDAQ:FB) Oculus Rift headset was released to the public, it appears that within a matter of months the company’s highly anticipated virual reality headset will be available to consumers. While many shareholders and virtual reality fans had begun to question if the company would meet their self imposed deadline of the first quarter, the founder of Oculus, Palmer Luckey, tweeted just 90 minutes ago that they are still on-target for Q1.
“Preorders are coming soon after new year. Enjoy a stress-free holiday, we won’t launch preorders without warning!” Luckey wrote, shortly after his tweet.
Facebook Inc (NASDAQ:FB) purchased Oculus back in 2014 for $2 billion, and has since been working to get the technology ready for consumer use. Some analysts expect Facebook to eventually integrate virtual reality within their social network using the technology and patents their received via the acquisition. Although the headset will not be ready for this year’s holiday season, and a price has yet to be confirmed, those within the industry expect it to sell extraordinarily well. The stock is currently trading higher by 0.78% or $0.82 following the positive news, hitting $105.59 per share at the time of us publishing this article. About 11.43M 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 16.16% above today’s ($105.59) 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 is positive, 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 buys, and 52 sales for a total of $207.14 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 $3.00M. 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 $297.27 billion. The Firm is engaged in developing products that enables users to connect and share through mobile devices and personal computers. It has 106.08 P/E ratio. It offers various services focused on people, marketers and developers.