58.com Inc. (WUBA) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its stake in shares of 58.com Inc. (NYSE:WUBA) by 25.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 72,329 shares of the information services provider’s stock after selling 25,012 shares during the period. JPMorgan Chase & Co.’s holdings in 58.com were worth $3,191,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of 58.com by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 416,689 shares of the information services provider’s stock worth $14,747,000 after purchasing an additional 8,967 shares during the last quarter. BlackRock Inc. raised its position in shares of 58.com by 5,138.7% during the 1st quarter. BlackRock Inc. now owns 4,007,567 shares of the information services provider’s stock worth $141,828,000 after purchasing an additional 3,931,068 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of 58.com by 11.5% during the 1st quarter. Bank of New York Mellon Corp now owns 107,091 shares of the information services provider’s stock worth $3,790,000 after purchasing an additional 11,041 shares during the last quarter. Teachers Advisors LLC raised its position in shares of 58.com by 9.5% during the 1st quarter. Teachers Advisors LLC now owns 35,887 shares of the information services provider’s stock worth $1,270,000 after purchasing an additional 3,100 shares during the last quarter. Finally, Jane Street Group LLC raised its position in shares of 58.com by 71.0% during the 1st quarter. Jane Street Group LLC now owns 14,237 shares of the information services provider’s stock worth $504,000 after purchasing an additional 5,911 shares during the last quarter. Hedge funds and other institutional investors own 60.03% of the company’s stock.

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Shares of 58.com Inc. (NYSE:WUBA) opened at 64.41 on Wednesday. The stock has a market cap of $9.38 billion, a PE ratio of 339.00 and a beta of 2.15. 58.com Inc. has a 52 week low of $27.58 and a 52 week high of $68.85. The company’s 50-day moving average is $64.76 and its 200 day moving average is $49.36.

58.com (NYSE:WUBA) last announced its earnings results on Monday, August 21st. The information services provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.42. The company had revenue of $382.81 million during the quarter. 58.com had a net margin of 2.14% and a return on equity of 1.04%. Analysts forecast that 58.com Inc. will post $1.19 earnings per share for the current fiscal year.

Several research firms recently weighed in on WUBA. BidaskClub downgraded shares of 58.com from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Citigroup Inc. upgraded shares of 58.com from a “neutral” rating to a “buy” rating and upped their price target for the stock from $62.00 to $68.00 in a research report on Wednesday, August 23rd. Zacks Investment Research downgraded shares of 58.com from a “strong-buy” rating to a “hold” rating in a research report on Saturday, September 16th. HSBC Holdings plc upgraded shares of 58.com from a “hold” rating to a “buy” rating and upped their price target for the stock from $45.00 to $69.00 in a research report on Tuesday, August 22nd. Finally, Morgan Stanley cut shares of 58.com from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $42.00 to $40.00 in a research note on Friday, June 30th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $55.27.

About 58.com

58.com Inc is a holding company. The Company’s business consists of its online classifieds and listing platforms. Its online classifieds and listings platforms enable local merchants and consumers to connect, share information and conduct business in China. These platforms include 58, Ganji and Anjuke.

Institutional Ownership by Quarter for 58.com (NYSE:WUBA)

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