Facebook Inc’s (NASDAQ:FB) Oculus has announced today that they will officially be opening up pre-orders for their Oculus Rift virtual reality headset on Wednesday, January 6th. While investors had been expecting a launch of the highly anticipated virtual reality device sometime this quarter, the announcement has caught many by surprise.
“Today, we’re excited to announce that pre-orders for Rift will open on Oculus.com at 8am Pacific Time on January 6! We’ll be sharing everything you need to know to order your Rift on Wednesday when pre-orders go live,” states the companys blog.
Facebook Inc (NASDAQ:FB) acquired Oculus back in March of 2014 for approximately $2 billion, and since then speculation has been mounting as to when and at what price the Rift will be available to consumers. Although the price of the device has yet to be announced, we do know that each Rift will come bundled with two games, CCP’s EVE: Valkyrie and Lucky’s Tale by Playful. Additionally, for those who wish to communicate with one of the founders of Oculus, Palmer Luckey, as well as learn more about the new device, he will be hosting a Reddit AMA on January 6th at 6pm PT.
The stock is down 2.88% or $3.01 following the news, hitting $101.65 per share. About 23.05M shares traded hands or 15.83% up from the average. FB has risen 32.16% since May 29, 2015 and is uptrending. It has outperformed the S&P500 by 35.17%.
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 20.66% above today’s ($101.65) 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 insider purchases, and 47 sales for a total of $193.63 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 $296.82 billion. The Firm is engaged in developing products that enables users to connect and share through mobile devices and personal computers. It has 102.12 P/E ratio. It offers various services focused on people, marketers and developers.