Facebook Inc (FB) Stock Up Slightly in Pre-market Trading After Instant Articles Launches in Asia


Facebook Inc (NASDAQ:FB) shares are up slightly in pre-market trading this morning after the company went live with Instant Articles in Asia. The launch of Instant Articles brings to Asia much faster loading times for approved publishers’ content.

Facebook Inc (NASDAQ:FB) initially is launching with 50 publishers in the region, which includes Indonesia, India and China. In additional to faster loading of articles, these select partners also can utilize extra interactive features. Currently Instant Articles is only available on iOS devices, but the Android counterpart is coming soon.

“Expanding Instant Articles to Asia is a significant milestone for the product and for each of our early launch partners,” said Andy Mitchell, Director of Global Media Partnerships, Facebook. “Instant Articles has been designed with extensive feedback from publishers, and we’re excited to bring this collaboration to our publishing partners in Asia to help them distribute fast, interactive articles to their readers in the Facebook app.”

The stock closed at $106.07 during the last trading session. It is down 34.66% since April 30, 2015 and is uptrending. It has outperformed the S&P500 by 34.95%.

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 15.63% above today’s ($106.07) 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 1.72 in Q2 2015. It’s up 0.19, from 1.53 in 2015Q1. The ratio increased, as 63 funds sold all their Facebook Inc shares they owned while 356 reduced their positions. 143 funds bought stakes while 579 increased their total positions. Institutions now own 1.51 billion shares which is 2.84% less than the previous share count of 1.56 billion in 2015Q1.

Millennium Tvp Management Co. Llc holds 63.75% of its total portfolio in Facebook Inc, equating to 776,552 shares. Sc Us (Ttgp) Ltd. owns 1.04 million shares representing 42.21% of their total US portfolio. Moreover, Parametric Risk Advisors Llc has 40.65% of their total portfolio invested in the company, equating to 7.15 million shares. The California-based Technology Crossover Management Vi L.L.C. has a total of 37.88% of their portfolio invested in the stock. Meritech Capital Associates Iii L.L.C., a California-based fund reported 1.07 million shares owned.

Since February 25, 2015, the stock had 0 insider purchases, and 58 sales for a total of $211.53 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 $299.97 billion. The Firm is engaged in developing products that enables users to connect and share through mobile devices and personal computers. It has 106.56 P/E ratio. It offers various services focused on people, marketers and developers.