Vanguard Group Inc Acquires 477,814 Shares of Weibo Corp (WB)

Vanguard Group Inc lifted its holdings in shares of Weibo Corp (NASDAQ:WB) by 37.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,755,252 shares of the information services provider’s stock after buying an additional 477,814 shares during the period. Vanguard Group Inc owned 0.79% of Weibo worth $128,361,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. FNY Investment Advisers LLC boosted its stake in Weibo by 1,900.0% during the 3rd quarter. FNY Investment Advisers LLC now owns 2,000 shares of the information services provider’s stock valued at $146,000 after purchasing an additional 1,900 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in Weibo by 43.8% during the 2nd quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,300 shares of the information services provider’s stock valued at $204,000 after purchasing an additional 700 shares during the period. B. Riley Wealth Management Inc. acquired a new position in Weibo during the 3rd quarter valued at about $222,000. GSA Capital Partners LLP acquired a new position in Weibo during the 3rd quarter valued at about $249,000. Finally, MML Investors Services LLC acquired a new position in Weibo during the 3rd quarter valued at about $269,000. 23.44% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently weighed in on the stock. BidaskClub raised shares of Weibo from a “sell” rating to a “hold” rating in a research note on Thursday, December 13th. ValuEngine raised shares of Weibo from a “sell” rating to a “hold” rating in a research note on Wednesday, December 5th. Barclays set a $80.00 price target on shares of Weibo and gave the stock a “buy” rating in a research note on Thursday, November 29th. Morgan Stanley lowered shares of Weibo from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, January 8th. Finally, Jefferies Financial Group reduced their price target on shares of Weibo to $90.00 and set a “buy” rating for the company in a research note on Monday, November 5th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. Weibo presently has an average rating of “Hold” and an average target price of $90.86.

Shares of NASDAQ:WB opened at $57.12 on Monday. Weibo Corp has a twelve month low of $53.11 and a twelve month high of $142.12. The company has a market capitalization of $13.50 billion, a PE ratio of 36.62, a P/E/G ratio of 0.70 and a beta of 2.20. The company has a quick ratio of 3.99, a current ratio of 3.99 and a debt-to-equity ratio of 0.56.

Weibo (NASDAQ:WB) last released its earnings results on Wednesday, November 28th. The information services provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.71 by $0.02. Weibo had a net margin of 33.23% and a return on equity of 38.71%. The business had revenue of $460.20 million during the quarter, compared to analyst estimates of $459.68 million. During the same period in the prior year, the business earned $0.51 earnings per share. The business’s quarterly revenue was up 43.8% on a year-over-year basis. Equities analysts forecast that Weibo Corp will post 2.5 earnings per share for the current year.

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Weibo Company Profile

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates through two segments, Advertising and Marketing Services, and Value-Added Services. The company offers self-expression products that enable its users to express themselves on its platform; social products to promote social interaction between users on its platform; and discovery products to help users discover content on its platform.

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Institutional Ownership by Quarter for Weibo (NASDAQ:WB)

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