Profund Advisors LLC Purchases Shares of 4,134 Weibo Corporation (WB)

Profund Advisors LLC purchased a new position in shares of Weibo Corporation (NASDAQ:WB) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,134 shares of the information services provider’s stock, valued at approximately $275,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Weibo Corporation by 40.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,645 shares of the information services provider’s stock worth $708,000 after acquiring an additional 3,045 shares in the last quarter. Lockheed Martin Investment Management Co. acquired a new position in shares of Weibo Corporation during the 2nd quarter worth about $757,000. First Manhattan Co. acquired a new position in shares of Weibo Corporation during the 2nd quarter worth about $741,000. BT Investment Management Ltd acquired a new position in shares of Weibo Corporation during the 2nd quarter worth about $63,749,000. Finally, Vanguard Group Inc. boosted its position in shares of Weibo Corporation by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 165,119 shares of the information services provider’s stock worth $8,616,000 after acquiring an additional 4,195 shares in the last quarter. Institutional investors own 19.56% of the company’s stock.

Shares of Weibo Corporation (NASDAQ:WB) opened at 99.72 on Wednesday. Weibo Corporation has a 12 month low of $40.12 and a 12 month high of $108.30. The company has a 50 day moving average price of $101.13 and a 200-day moving average price of $76.88. The firm has a market capitalization of $20.67 billion, a PE ratio of 114.88 and a beta of 2.57.

Weibo Corporation (NASDAQ:WB) last announced its quarterly earnings data on Wednesday, August 9th. The information services provider reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.02. Weibo Corporation had a return on equity of 24.45% and a net margin of 23.22%. The firm had revenue of $253.37 million during the quarter, compared to analyst estimates of $246.78 million. During the same period in the previous year, the company earned $0.16 earnings per share. Weibo Corporation’s quarterly revenue was up 72.5% on a year-over-year basis. Equities research analysts expect that Weibo Corporation will post $1.64 EPS for the current fiscal year.

WB has been the subject of a number of research analyst reports. BidaskClub cut Weibo Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Citigroup Inc. reissued a “buy” rating and issued a $126.00 target price (up from $102.00) on shares of Weibo Corporation in a research report on Thursday, September 14th. Jefferies Group LLC reissued a “buy” rating on shares of Weibo Corporation in a research report on Monday, June 26th. Instinet reissued a “buy” rating and issued a $102.00 target price (up from $91.00) on shares of Weibo Corporation in a research report on Friday, August 11th. Finally, Zacks Investment Research cut Weibo Corporation from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $85.28.

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Weibo Corporation Profile

Weibo Corporation is a social media platform for people to create, distribute and discover Chinese-language content. The Company provides ways for people and organizations to publicly express themselves in real time, interact with others on a global platform and stay connected with the world. It operates in two segments: advertising and marketing services and other services.

Institutional Ownership by Quarter for Weibo Corporation (NASDAQ:WB)

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