Handelsbanken Fonder AB Sells 10,000 Shares of Weibo Co. (NASDAQ:WB)

Handelsbanken Fonder AB lowered its stake in Weibo Co. (NASDAQ:WB) by 42.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,460 shares of the information services provider’s stock after selling 10,000 shares during the period. Handelsbanken Fonder AB’s holdings in Weibo were worth $147,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. UBS Group AG boosted its position in Weibo by 1,360.0% during the 3rd quarter. UBS Group AG now owns 2,268,124 shares of the information services provider’s stock valued at $28,442,000 after buying an additional 2,112,773 shares during the period. Krane Funds Advisors LLC increased its holdings in Weibo by 14.4% during the 3rd quarter. Krane Funds Advisors LLC now owns 3,188,994 shares of the information services provider’s stock valued at $39,990,000 after purchasing an additional 401,004 shares during the period. Long Corridor Asset Management Ltd raised its position in Weibo by 175.6% during the 3rd quarter. Long Corridor Asset Management Ltd now owns 620,000 shares of the information services provider’s stock valued at $7,775,000 after purchasing an additional 395,000 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Weibo by 3.5% in the 4th quarter. Federated Hermes Inc. now owns 5,290,626 shares of the information services provider’s stock worth $57,932,000 after buying an additional 179,482 shares during the period. Finally, SeaTown Holdings Pte. Ltd. grew its position in shares of Weibo by 75.0% in the 3rd quarter. SeaTown Holdings Pte. Ltd. now owns 350,000 shares of the information services provider’s stock worth $4,389,000 after buying an additional 150,000 shares during the last quarter. 68.77% of the stock is currently owned by institutional investors.

Weibo Price Performance

Shares of WB opened at $9.67 on Friday. Weibo Co. has a fifty-two week low of $7.58 and a fifty-two week high of $17.67. The firm’s 50-day simple moving average is $8.88 and its two-hundred day simple moving average is $9.77. The stock has a market cap of $2.26 billion, a PE ratio of 6.81, a price-to-earnings-growth ratio of 1.30 and a beta of 0.40. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.51 and a current ratio of 2.51.

Weibo (NASDAQ:WB) last posted its quarterly earnings results on Thursday, March 14th. The information services provider reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.14). The company had revenue of $463.67 million during the quarter, compared to analysts’ expectations of $452.30 million. Weibo had a return on equity of 10.77% and a net margin of 19.47%. Analysts anticipate that Weibo Co. will post 1.64 earnings per share for the current fiscal year.

Weibo Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WB. The Goldman Sachs Group restated a “neutral” rating and set a $10.60 target price on shares of Weibo in a report on Thursday, March 28th. HSBC dropped their target price on shares of Weibo from $13.60 to $9.80 and set a “hold” rating for the company in a research report on Friday, March 15th. StockNews.com cut shares of Weibo from a “buy” rating to a “hold” rating in a research report on Friday, January 19th. UBS Group upgraded shares of Weibo from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $12.90 to $11.50 in a report on Tuesday, March 19th. Finally, Bank of America cut Weibo from a “buy” rating to an “underperform” rating and cut their price objective for the company from $19.50 to $10.00 in a research report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $11.98.

About Weibo

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.