Facebook Inc (NASDAQ:FB) Stock Looks to Close Out Year With Possibility of Reaching 52-week High

Share

It’s been a great year for shareholders of Facebook Inc (NASDAQ:FB) stock. While the stock opened the year at around $78.58, and remains relatively unchanged after the first 6-months, June through November represented a steep climb to a peek of $110.65. With the stock now standing at $106.30, after shooting up 0.35% in pre-market trading this morning, there is a decent chance that we see the stock close out the year on Thursday near or at its 52-week high.

Facebook Inc (NASDAQ:FB) shares gained over 35% since the beginning of the year, a return that any investor would be thrilled with. The company has grown, new ventures have been launced, and 2016 looks just as exciting, if not moreso than 2015 was for the Mark Zuckerberg headed company.

It should be interesting to see 4th quarter financial results from Facebook Inc (NASDAQ:FB), as the third quarter saw daily active users on their website come in at an incredible 1.01 billion, which was an increase of over 17% from the previous year. The social network is growing, and so is their previous acquisition, Instagram. Will Facebook acquire any new companies in 2016? It’s very possible as they closed out September of 2015 with cash, cash equivalents and marketable securities of over $15.8 billion.

Regardless, the rest of this week should be interesting, and the stock has a great chance of reaching its 52-week high.

The stock increased 0.87% or $0.91 during the last trading session, hitting $105.93. About 17,594 shares traded hands. FB has risen 33.53% since May 26, 2015 and is uptrending. It has outperformed the S&P500 by 35.80%.

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 15.78% above today’s ($105.93) 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 buys, and 50 selling transactions for a total of $203.74 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 $297.00 billion. The Firm is engaged in developing products that enables users to connect and share through mobile devices and personal computers. It has 106.42 P/E ratio. It offers various services focused on people, marketers and developers.

COMMENTS: