Canada Pension Plan Investment Board lifted its holdings in Weibo Co. (NASDAQ:WB – Free Report) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 786,901 shares of the information services provider’s stock after purchasing an additional 9,186 shares during the period. Canada Pension Plan Investment Board owned about 0.34% of Weibo worth $9,868,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in WB. E Fund Management Hong Kong Co. Ltd. grew its position in Weibo by 137.7% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 36,973 shares of the information services provider’s stock worth $887,000 after acquiring an additional 21,420 shares during the period. Envestnet Asset Management Inc. grew its position in Weibo by 18.5% in the first quarter. Envestnet Asset Management Inc. now owns 11,899 shares of the information services provider’s stock worth $292,000 after acquiring an additional 1,861 shares during the period. Advisor Group Holdings Inc. grew its position in Weibo by 88.9% in the first quarter. Advisor Group Holdings Inc. now owns 1,383 shares of the information services provider’s stock worth $35,000 after acquiring an additional 651 shares during the period. US Bancorp DE boosted its position in shares of Weibo by 124.7% during the first quarter. US Bancorp DE now owns 5,512 shares of the information services provider’s stock worth $135,000 after buying an additional 3,059 shares during the period. Finally, BlackRock Inc. boosted its position in shares of Weibo by 6.3% during the first quarter. BlackRock Inc. now owns 2,898,674 shares of the information services provider’s stock worth $71,044,000 after buying an additional 171,508 shares during the period. 29.81% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research analysts have recently commented on the company. Bank of America lowered Weibo from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $19.50 to $10.00 in a research report on Thursday, January 11th. StockNews.com lowered Weibo from a “buy” rating to a “hold” rating in a research report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $14.53.
Weibo Stock Up 4.9 %
Shares of NASDAQ WB opened at $9.24 on Tuesday. The stock has a market cap of $2.16 billion, a P/E ratio of 5.50, a PEG ratio of 1.27 and a beta of 0.43. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.51. Weibo Co. has a 12-month low of $7.84 and a 12-month high of $23.65. The business’s fifty day simple moving average is $9.42 and its 200-day simple moving average is $11.45.
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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