California Public Employees Retirement System Sells 4,205 Shares of Weibo Co. (NASDAQ:WB)

California Public Employees Retirement System lessened its stake in Weibo Co. (NASDAQ:WB) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,733 shares of the information services provider’s stock after selling 4,205 shares during the quarter. California Public Employees Retirement System owned approximately 0.05% of Weibo worth $1,344,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Federated Hermes Inc. increased its stake 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 valued at $57,932,000 after buying an additional 179,482 shares during the last quarter. Krane Funds Advisors LLC increased its position in shares of Weibo by 14.4% during the third quarter. Krane Funds Advisors LLC now owns 3,188,994 shares of the information services provider’s stock valued at $39,990,000 after acquiring an additional 401,004 shares during the last quarter. UBS Group AG lifted its holdings in Weibo by 1,360.0% during the third quarter. UBS Group AG now owns 2,268,124 shares of the information services provider’s stock worth $28,442,000 after acquiring an additional 2,112,773 shares during the period. Canada Pension Plan Investment Board boosted its position in Weibo by 1.2% in the third quarter. Canada Pension Plan Investment Board now owns 786,901 shares of the information services provider’s stock worth $9,868,000 after purchasing an additional 9,186 shares during the last quarter. Finally, Long Corridor Asset Management Ltd grew its stake in Weibo by 175.6% in 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 period. Hedge funds and other institutional investors own 68.77% of the company’s stock.

Weibo Price Performance

Shares of NASDAQ WB opened at $9.67 on Monday. 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 Co. has a fifty-two week low of $7.58 and a fifty-two week high of $17.67. The stock has a market cap of $2.26 billion, a PE ratio of 6.81, a price-to-earnings-growth ratio of 1.47 and a beta of 0.40. The stock has a fifty day moving average of $8.88 and a 200-day moving average of $9.74.

Weibo (NASDAQ:WB) last issued its earnings results on Thursday, March 14th. The information services provider reported $0.23 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.14). Weibo had a return on equity of 10.77% and a net margin of 19.47%. The company had revenue of $463.67 million during the quarter, compared to the consensus estimate of $452.30 million. Equities research analysts anticipate that Weibo Co. will post 1.64 earnings per share for the current 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 issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, April 11th.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on WB shares. Bank of America downgraded shares of Weibo from a “buy” rating to an “underperform” rating and cut their price target for the stock from $19.50 to $10.00 in a report on Thursday, January 11th. The Goldman Sachs Group reissued a “neutral” rating and set a $10.60 target price on shares of Weibo in a research report on Thursday, March 28th. HSBC lowered their price target on shares of Weibo from $13.60 to $9.80 and set a “hold” rating on the stock in a report on Friday, March 15th. UBS Group raised Weibo from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $12.90 to $11.50 in a report on Tuesday, March 19th. Finally, StockNews.com lowered Weibo from a “buy” rating to a “hold” rating in a research note on Friday, January 19th. 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $11.98.

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.