Facebook Inc (NASDAQ:FB) COO Sheryl Sandberg thinks her company is onto something, by targetting small businesses as potential advertiers on the social network. If the company can continue their success that they’ve had with these business throughout 2016, we could see many great things for the stock, which is trading up significantly today.
Sandberg discussed at the Technology and Internet Conference in San Francisco how they have made it much simpler for small business to advertise on their platform simply by offering these companies the option to promote their posts. Rather than focusing on trying to recruit companies on a one-to-one basis as advertisers, a task that many business owners might view as a potential pain in the neck, Facebook targetted them on a post-to-post basis. Best of all it seems to be working both for Facebook, in generating revenue and for businesses looking to get affordable, effective advertising.
The stock is up 3.41% or $3.39 following the news, hitting $102.93 per share. About 11.69M shares traded hands. FB has risen 14.13% since July 7, 2015 and is uptrending. It has outperformed the S&P500 by 23.60%.
From a total of 34 analysts covering Facebook (NASDAQ:FB) stock, 33 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 $170 while the lowest target price is $88. The mean of all analyst targets is $125.06 which is 21.50% above today’s ($102.93) stock price. Facebook was the topic of 66 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Piper Jaffray maintained shares on January 28 with a “Overweight” rating. Suntrust Robinson maintained shares with a”Buy” rating and a $120 target share price in their report from a January 25. Stifel Nicolaus maintained FB stock in a recent report from January 28 with a “Buy” rating. Morgan Stanley maintained the rating on November 5. Morgan Stanley has a “Overweight” rating and a $120 price target on shares. Finally, FBR Capital maintained the stock with a “Outperform” rating in a report they issued on a January 28.
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 insider purchases, and 32 selling transactions for a total of $57.08 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 $292.37 billion. The Firm is engaged in developing products that enables users to connect and share through mobile devices and personal computers. It has 79.8 P/E ratio. It offers various services focused on people, marketers and developers.