Pictet Asset Management SA Acquires 2,600 Shares of Weibo Co. (NASDAQ:WB)

Pictet Asset Management SA boosted its holdings in Weibo Co. (NASDAQ:WBGet Rating) by 3.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,995 shares of the information services provider’s stock after acquiring an additional 2,600 shares during the quarter. Pictet Asset Management SA’s holdings in Weibo were worth $1,850,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. National Bank of Canada FI lifted its holdings in shares of Weibo by 246.7% during the 1st quarter. National Bank of Canada FI now owns 719,400 shares of the information services provider’s stock valued at $17,632,000 after buying an additional 511,900 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of Weibo by 68.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,692,640 shares of the information services provider’s stock valued at $65,996,000 after buying an additional 1,091,440 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Weibo during the 2nd quarter valued at $204,000. Bank of Montreal Can lifted its holdings in shares of Weibo by 10,637.1% during the 1st quarter. Bank of Montreal Can now owns 2,207,442 shares of the information services provider’s stock valued at $54,657,000 after buying an additional 2,186,883 shares during the period. Finally, Quinn Opportunity Partners LLC lifted its holdings in shares of Weibo by 383.0% during the 1st quarter. Quinn Opportunity Partners LLC now owns 784,437 shares of the information services provider’s stock valued at $19,227,000 after buying an additional 622,037 shares during the period. 29.08% of the stock is owned by institutional investors.

Weibo Price Performance

Shares of Weibo stock opened at $13.82 on Tuesday. Weibo Co. has a one year low of $10.02 and a one year high of $44.04. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.33 and a current ratio of 2.33. The stock has a market cap of $3.27 billion, a P/E ratio of 53.16, a P/E/G ratio of 0.75 and a beta of 0.53. The stock’s fifty day moving average is $14.81 and its 200 day moving average is $18.66.

Weibo (NASDAQ:WBGet Rating) last issued its quarterly earnings results on Thursday, September 1st. The information services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Weibo had a return on equity of 11.40% and a net margin of 2.96%. The business had revenue of $450.20 million during the quarter, compared to analysts’ expectations of $449.41 million. During the same quarter in the previous year, the company posted $0.35 EPS. The company’s quarterly revenue was down 21.6% on a year-over-year basis. Sell-side analysts anticipate that Weibo Co. will post 1.65 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. HSBC lowered their price target on Weibo from $26.00 to $22.00 and set a “hold” rating on the stock in a report on Friday, September 2nd. StockNews.com assumed coverage on Weibo in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Jefferies Financial Group lowered their price target on Weibo from $37.00 to $32.60 in a report on Tuesday, October 18th. OTR Global cut Weibo from a “mixed” rating to a “negative” rating in a report on Monday, August 15th. Finally, Benchmark decreased their target price on Weibo from $39.00 to $32.00 in a report on Thursday, September 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $31.70.

Weibo Company Profile

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

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Institutional Ownership by Quarter for Weibo (NASDAQ:WB)

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