Nicholas Investment Partners LP reduced its position in shares of Weibo Corporation (NASDAQ:WB) by 28.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,797 shares of the information services provider’s stock after selling 13,678 shares during the period. Nicholas Investment Partners LP’s holdings in Weibo were worth $3,443,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. Harding Loevner LP raised its stake in shares of Weibo by 2,621.2% in the third quarter. Harding Loevner LP now owns 95,403,043 shares of the information services provider’s stock worth $476,760,000 after acquiring an additional 91,897,142 shares during the last quarter. BT Investment Management Ltd bought a new position in shares of Weibo in the second quarter worth about $63,749,000. Schroder Investment Management Group raised its stake in shares of Weibo by 31.1% in the third quarter. Schroder Investment Management Group now owns 2,300,656 shares of the information services provider’s stock worth $225,672,000 after acquiring an additional 545,683 shares during the last quarter. Platinum Investment Management Ltd. bought a new position in shares of Weibo in the second quarter worth about $27,010,000. Finally, Macquarie Group Ltd. raised its stake in shares of Weibo by 36.9% in the second quarter. Macquarie Group Ltd. now owns 1,239,263 shares of the information services provider’s stock worth $82,378,000 after acquiring an additional 334,095 shares during the last quarter. 21.98% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on the stock. ValuEngine downgraded shares of Weibo from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded shares of Weibo from a “hold” rating to a “strong-buy” rating and set a $95.00 price target for the company in a research report on Tuesday, August 15th. Barclays set a $100.00 price target on shares of Weibo and gave the stock an “overweight” rating in a research report on Friday, August 11th. BidaskClub cut shares of Weibo from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 7th. Finally, Instinet reiterated a “buy” rating and set a $102.00 price target (up previously from $91.00) on shares of Weibo in a research report on Friday, August 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $93.39.
Weibo (NASDAQ:WB) last issued its quarterly earnings results on Tuesday, November 7th. The information services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.45 by $0.06. Weibo had a net margin of 26.85% and a return on equity of 30.00%. The company had revenue of $320.00 million during the quarter, compared to analysts’ expectations of $297.20 million. During the same quarter in the previous year, the company earned $0.24 EPS. Weibo’s revenue was up 80.9% on a year-over-year basis. equities research analysts expect that Weibo Corporation will post 1.5 earnings per share for the current year.
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Weibo 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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