Candriam Luxembourg S.C.A. reduced its stake in Weibo Corporation (NASDAQ:WB) by 27.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 128,900 shares of the information services provider’s stock after selling 49,600 shares during the quarter. Candriam Luxembourg S.C.A. owned approximately 0.06% of Weibo Corporation worth $12,753,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Parametric Portfolio Associates LLC increased its position in Weibo Corporation by 83.4% in the 1st quarter. Parametric Portfolio Associates LLC now owns 21,318 shares of the information services provider’s stock worth $1,112,000 after buying an additional 9,693 shares during the period. Vanguard Group Inc. increased its position in Weibo Corporation by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 165,119 shares of the information services provider’s stock worth $8,616,000 after buying an additional 4,195 shares during the period. Geode Capital Management LLC increased its position in Weibo Corporation by 20.3% in the 1st quarter. Geode Capital Management LLC now owns 70,163 shares of the information services provider’s stock worth $3,650,000 after buying an additional 11,825 shares during the period. Oppenheimer Asset Management Inc. bought a new position in Weibo Corporation in the 1st quarter worth approximately $162,000. Finally, State Street Corp increased its position in Weibo Corporation by 14.2% in the 1st quarter. State Street Corp now owns 513,031 shares of the information services provider’s stock worth $26,771,000 after buying an additional 63,983 shares during the period. Hedge funds and other institutional investors own 19.70% of the company’s stock.
Weibo Corporation (NASDAQ WB) traded down $4.13 on Friday, hitting $105.16. The stock had a trading volume of 1,860,217 shares, compared to its average volume of 2,114,880. The company has a market capitalization of $24,176.80, a PE ratio of 92.62 and a beta of 2.50. Weibo Corporation has a 1-year low of $40.12 and a 1-year high of $110.48.
Weibo Corporation (NASDAQ:WB) last announced its quarterly earnings results on Tuesday, November 7th. The information services provider reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. Weibo Corporation had a return on equity of 30.00% and a net margin of 26.85%. The firm had revenue of $320.00 million for the quarter, compared to analysts’ expectations of $297.20 million. During the same period in the prior year, the business posted $0.24 earnings per share. The business’s revenue was up 80.9% compared to the same quarter last year. sell-side analysts forecast that Weibo Corporation will post 1.45 EPS for the current year.
Several research analysts have commented on the company. BidaskClub raised Weibo Corporation from a “hold” rating to a “buy” rating in a research report on Thursday. Instinet restated a “buy” rating and set a $102.00 price objective (up from $91.00) on shares of Weibo Corporation in a research report on Friday, August 11th. Jefferies Group LLC lowered their price objective on Weibo Corporation from $105.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, August 10th. 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 research report on Tuesday, August 15th. Finally, Barclays PLC set a $100.00 price objective on Weibo Corporation and gave the company an “overweight” rating in a research report on Friday, August 11th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Weibo Corporation has a consensus rating of “Buy” and a consensus price target of $88.61.
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.
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