Facebook Inc (FB) Bans 40-Year-Old Magazine From Website


Facebook Inc (NASDAQ:FB) certainly has their hands full in keeping up with their terms of service. Keep in mind that the company needs to have enough employees on hand to handle all the potential suspensions, bannings and removal of fradulant and offensive pages. While they typically do a decent job of keeping unwanted content off the site, there are times when controversy arises. This has happened today as the company seemingly has suspended the Facebook page of 40-year-old comic magazine Viz Comics. This suspension has many people concerned and others wondering why it took place.

For those familiar with Viz though, you will know that the website is far from being “politically correct” and in fact there are many offensive things posted on there from time to time, as well as offensive language. It looks as though Facebook Inc (NASDAQ:FB) doesn’t plan to make any exceptions for larger more well known companies, as they have banned the magazine’s profile page.

“Facebook have taken the Viz page down,” the company announced via Twitter. “We can appeal, but if we get it wrong, we’ll be “permanently deleted. Oo-er.”

It will be interesting to see how this is resolved, if it is at all. Will Facebook keep Viz off of their site or perhaps Viz will modify things that they post so they are less offensive.

The stock is down 1.38% or $1.4 following the news, hitting $100.61 per share. Approximately 30.25M shares traded hands. FB shares have risen 15.99% since July 10, 2015 and are currently uptrending. It has outperformed the S&P500 by 26.19%.

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 24.30% above today’s ($100.61) 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 buys, and 25 selling transactions for a total of $29.60 million in net activity. Athwal Jas sold 30,000 shares worth $3.06 million. 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 $286.63 billion. The Firm is engaged in developing products that enables users to connect and share through mobile devices and personal computers. It has 77.99 P/E ratio. It offers various services focused on people, marketers and developers.