BNP Paribas Financial Markets Purchases 41,137 Shares of Weibo Co. (NASDAQ:WB)

BNP Paribas Financial Markets grew its holdings in Weibo Co. (NASDAQ:WB) by 98.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 83,106 shares of the information services provider’s stock after acquiring an additional 41,137 shares during the quarter. BNP Paribas Financial Markets’ holdings in Weibo were worth $838,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of WB. Seven Eight Capital LP acquired a new stake in Weibo in the 2nd quarter worth about $110,000. Creative Planning bought a new position in shares of Weibo during the third quarter worth approximately $112,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Weibo by 17.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,261 shares of the information services provider’s stock valued at $134,000 after buying an additional 1,970 shares during the period. Diversified Trust Co bought a new stake in shares of Weibo in the third quarter valued at approximately $194,000. Finally, Quantbot Technologies LP bought a new stake in shares of Weibo in the third quarter valued at approximately $318,000. 68.77% of the stock is currently owned by institutional investors and hedge funds.

Weibo Stock Up 0.9 %

WB stock opened at $10.40 on Thursday. The stock has a market capitalization of $2.44 billion, a P/E ratio of 7.12 and a beta of 0.27. The company has a current ratio of 3.57, a quick ratio of 3.57 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $9.41 and a 200-day moving average price of $8.53. Weibo Co. has a 12 month low of $7.03 and a 12 month high of $12.40.

Wall Street Analyst Weigh In

WB has been the subject of several analyst reports. Citigroup lifted their price objective on Weibo from $11.00 to $12.00 and gave the company a “buy” rating in a report on Monday, September 30th. Benchmark restated a “hold” rating on shares of Weibo in a research report on Wednesday, November 20th. StockNews.com raised shares of Weibo from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Morgan Stanley dropped their target price on shares of Weibo from $8.00 to $7.50 and set an “underweight” rating for the company in a research report on Friday, August 23rd. Finally, Nomura Securities upgraded shares of Weibo to a “hold” rating in a research report on Monday, August 26th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.23.

Weibo Profile

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, discover, and distribute 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.