Sina Corporation (SINA) Stake Lowered by State Street Corp

State Street Corp decreased its position in shares of Sina Corporation (NASDAQ:SINA) by 3.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 796,264 shares of the technology company’s stock after selling 32,095 shares during the quarter. State Street Corp owned 1.12% of Sina Corporation worth $67,651,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Bank of Montreal Can grew its holdings in shares of Sina Corporation by 11.7% during the second quarter. Bank of Montreal Can now owns 1,452 shares of the technology company’s stock valued at $123,000 after buying an additional 152 shares during the last quarter. US Bancorp DE grew its holdings in shares of Sina Corporation by 55.1% during the second quarter. US Bancorp DE now owns 1,501 shares of the technology company’s stock valued at $127,000 after buying an additional 533 shares during the last quarter. Bronfman E.L. Rothschild L.P. purchased a new stake in shares of Sina Corporation during the second quarter valued at approximately $136,000. ETF Managers Group LLC purchased a new stake in shares of Sina Corporation during the second quarter valued at approximately $180,000. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of Sina Corporation by 11.0% during the first quarter. Nomura Asset Management Co. Ltd. now owns 2,330 shares of the technology company’s stock valued at $168,000 after buying an additional 230 shares during the last quarter. Hedge funds and other institutional investors own 66.96% of the company’s stock.

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A number of equities research analysts have recently commented on SINA shares. Jefferies Group LLC reiterated a “buy” rating on shares of Sina Corporation in a report on Friday, August 11th. Bank of America Corporation restated a “buy” rating and issued a $119.00 target price (up previously from $112.00) on shares of Sina Corporation in a report on Thursday, August 10th. Citigroup Inc. raised their target price on shares of Sina Corporation to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 10th. BidaskClub cut shares of Sina Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Zacks Investment Research cut shares of Sina Corporation from a “hold” rating to a “strong sell” rating in a report on Monday, August 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $104.08.

Shares of Sina Corporation (SINA) opened at 105.00 on Monday. The company has a 50-day moving average of $113.85 and a 200 day moving average of $96.47. Sina Corporation has a one year low of $60.46 and a one year high of $119.20. The stock has a market cap of $7.48 billion, a PE ratio of 34.38 and a beta of 1.15.

Sina Corporation (NASDAQ:SINA) last released its earnings results on Wednesday, August 9th. The technology company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.27. The company had revenue of $358.93 million for the quarter, compared to the consensus estimate of $344.23 million. Sina Corporation had a net margin of 18.64% and a return on equity of 6.58%. Sina Corporation’s revenue was up 47.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 EPS. On average, analysts predict that Sina Corporation will post $2.92 earnings per share for the current year.

Sina Corporation Company Profile

Sina Corporation is an online media company serving China and the global Chinese communities. The Company’s digital media network of SINA.com (portal), SINA mobile (mobile portal and mobile applications) and Weibo (social media) enables Internet users to access professional media and user generated content (UGCs) in multi-media formats from personal computers and mobile devices, and share their interests with friends and acquaintances.

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Institutional Ownership by Quarter for Sina Corporation (NASDAQ:SINA)

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