Vanguard Group Inc. Has $35.32 Million Stock Position in Weibo Co. (NASDAQ:WB)

Vanguard Group Inc. trimmed its stake in shares of Weibo Co. (NASDAQ:WB) by 0.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,816,549 shares of the information services provider’s stock after selling 1,969 shares during the quarter. Vanguard Group Inc. owned 1.20% of Weibo worth $35,320,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in WB. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Weibo by 137.7% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 36,973 shares of the information services provider’s stock valued at $887,000 after acquiring an additional 21,420 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Weibo by 18.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 11,899 shares of the information services provider’s stock valued at $292,000 after buying an additional 1,861 shares in the last quarter. Advisor Group Holdings Inc. increased its position in shares of Weibo by 88.9% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,383 shares of the information services provider’s stock valued at $35,000 after buying an additional 651 shares in the last quarter. US Bancorp DE increased its position in shares of Weibo by 124.7% in the 1st quarter. US Bancorp DE now owns 5,512 shares of the information services provider’s stock valued at $135,000 after buying an additional 3,059 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of Weibo by 6.3% in the 1st quarter. BlackRock Inc. now owns 2,898,674 shares of the information services provider’s stock valued at $71,044,000 after buying an additional 171,508 shares in the last quarter. 68.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

WB has been the subject of a number of research analyst reports. StockNews.com lowered shares of Weibo from a “buy” rating to a “hold” rating in a research note on Friday, January 19th. Bank of America lowered shares of Weibo from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $19.50 to $10.00 in a research note on Thursday, January 11th. UBS Group raised shares of Weibo from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $12.90 to $11.50 in a research note on Tuesday, March 19th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $10.60 target price on shares of Weibo in a research note on Thursday, March 28th. Finally, HSBC reduced their target price on shares of Weibo from $13.60 to $9.80 and set a “hold” rating for the company in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Weibo has a consensus rating of “Hold” and an average target price of $11.98.

Weibo Trading Down 1.8 %

Weibo stock opened at $8.94 on Thursday. The firm has a 50-day moving average of $9.11 and a 200-day moving average of $10.24. Weibo Co. has a one year low of $7.84 and a one year high of $18.12. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.51 and a quick ratio of 2.38. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 6.30, a P/E/G ratio of 1.33 and a beta of 0.44.

Weibo (NASDAQ:WB) last issued its earnings results on Thursday, March 14th. The information services provider reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.14). Weibo had a net margin of 19.47% and a return on equity of 10.77%. The firm had revenue of $463.67 million during the quarter, compared to analyst estimates of $452.30 million. On average, equities analysts expect that Weibo Co. will post 1.64 earnings per share for the current fiscal year.

Weibo Cuts Dividend

The company also recently announced a — dividend, which will be paid on Monday, May 13th. Investors of record on Friday, April 12th will be paid a $0.80 dividend. The ex-dividend date is Thursday, April 11th.

Weibo Profile

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.