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SG Americas Securities LLC increased its position in Weibo Corporation (NASDAQ:WB) by 72.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,582 shares of the information services provider’s stock after buying an additional 44,015 shares during the period. SG Americas Securities LLC’s holdings in Weibo Corporation were worth $6,952,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. acquired a new stake in Weibo Corporation during the fourth quarter worth approximately $2,453,000. Teachers Advisors LLC increased its stake in Weibo Corporation by 162.6% in the fourth quarter. Teachers Advisors LLC now owns 12,700 shares of the information services provider’s stock valued at $516,000 after buying an additional 7,864 shares in the last quarter. TB Alternative Assets Ltd. purchased a new stake in Weibo Corporation during the first quarter valued at about $1,967,000. Navellier & Associates Inc increased its stake in Weibo Corporation by 41.9% in the first quarter. Navellier & Associates Inc now owns 93,269 shares of the information services provider’s stock valued at $4,867,000 after buying an additional 27,526 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. increased its stake in Weibo Corporation by 224.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 209,000 shares of the information services provider’s stock valued at $10,906,000 after buying an additional 144,500 shares in the last quarter. 16.58% of the stock is currently owned by institutional investors.
Weibo Corporation (NASDAQ:WB) opened at 88.11 on Thursday. Weibo Corporation has a 12 month low of $40.12 and a 12 month high of $88.88.
Weibo Corporation (NASDAQ:WB) last posted its quarterly earnings results on Wednesday, August 9th. The information services provider reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. The business had revenue of $253.37 million for the quarter, compared to analysts’ expectations of $246.78 million. Weibo Corporation had a net margin of 23.22% and a return on equity of 24.45%. Weibo Corporation’s revenue was up 72.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 EPS. Equities research analysts forecast that Weibo Corporation will post $1.60 EPS for the current fiscal year.
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Several equities research analysts recently issued reports on the company. Zacks Investment Research upgraded Weibo Corporation from a “hold” rating to a “strong-buy” rating and set a $95.00 price objective on the stock in a report on Tuesday. BidaskClub raised Weibo Corporation from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 16th. Barclays PLC reaffirmed an “overweight” rating and set a $85.00 price objective (up from $66.00) on shares of Weibo Corporation in a research report on Wednesday, May 17th. Jefferies Group LLC reaffirmed a “buy” rating and set a $82.00 price objective on shares of Weibo Corporation in a research report on Tuesday, May 16th. Finally, 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. Eight analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $79.06.
Weibo Corporation Company 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.
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