Price T Rowe Associates Inc. MD Decreases Stake in Weibo Co. (NASDAQ:WB)

Price T Rowe Associates Inc. MD cut its stake in shares of Weibo Co. (NASDAQ:WB – Get Rating) by 37.2% during the third quarter, HoldingsChannel.com reports. The firm owned 3,218,397 shares of the information services provider’s stock after selling 1,903,031 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Weibo were worth $55,035,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. UBS Group AG grew its position in shares of Weibo by 149.2% in the first quarter. UBS Group AG now owns 5,059,287 shares of the information services provider’s stock valued at $124,002,000 after purchasing an additional 3,029,114 shares during the last quarter. ARGA Investment Management LP lifted its position in shares of Weibo by 27.8% in the third quarter. ARGA Investment Management LP now owns 4,576,475 shares of the information services provider’s stock valued at $77,913,000 after acquiring an additional 994,659 shares in the last quarter. Federated Hermes Inc. lifted its holdings in Weibo by 26.6% in the 3rd quarter. Federated Hermes Inc. now owns 3,944,506 shares of the information services provider’s stock valued at $67,451,000 after purchasing an additional 828,636 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Weibo by 26.1% during the first quarter. Vanguard Group Inc. now owns 2,560,220 shares of the information services provider’s stock worth $62,751,000 after buying an additional 530,190 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Weibo by 273.8% during the second quarter. Sei Investments Co. now owns 531,143 shares of the information services provider’s stock valued at $12,289,000 after buying an additional 389,035 shares during the period. Hedge funds and other institutional investors own 27.46% of the company’s stock.

Weibo Price Performance

Shares of NASDAQ WB opened at $16.57 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.73 and a quick ratio of 2.33. Weibo Co. has a 1-year low of $10.02 and a 1-year high of $28.40. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 46.03, a PEG ratio of 0.78 and a beta of 0.52. The business has a 50-day moving average of $21.17 and a 200-day moving average of $17.88.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on WB. StockNews.com upgraded Weibo from a “hold” rating to a “buy” rating in a report on Thursday, March 2nd. The Goldman Sachs Group raised Weibo from a “neutral” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Sunday, January 8th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Weibo in a research note on Monday, January 30th. They set a “neutral” rating for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Weibo has a consensus rating of “Hold” and a consensus price target of $29.72.

Weibo Profile

(Get Rating)

Weibo Corp. engages in the creation, distribution, and discovery of Chinese-language content. It operates through the Advertising and Marketing Services, and Other Services segments. Its products and services include Self-Expression, such as Feed, Individual page, and Enterprise page; Social Products, such as Follow, Repost, Comment, Favorite, like, Mention, Messenger, and Group Chat; Discovery Products, such as Information Feed, Search, Object Page, Trends, and Discovery Channel; Notifications; Weibo Games; VIP Membership; and Weibo Apps.