Prudential Financial Inc. trimmed its position in shares of Weibo Corporation (NASDAQ:WB) by 5.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,400 shares of the information services provider’s stock after selling 5,100 shares during the quarter. Prudential Financial Inc.’s holdings in Weibo Corporation were worth $6,075,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WB. DekaBank Deutsche Girozentrale bought a new position in Weibo Corporation in the 1st quarter worth $324,000. Catamount Wealth Management bought a new position in Weibo Corporation in the 2nd quarter worth $113,000. Alta Advisers Ltd raised its holdings in Weibo Corporation by 5.0% in the 1st quarter. Alta Advisers Ltd now owns 2,100 shares of the information services provider’s stock worth $110,000 after purchasing an additional 100 shares during the period. Oppenheimer Asset Management Inc. bought a new position in Weibo Corporation in the 1st quarter worth $162,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Weibo Corporation by 41.7% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,400 shares of the information services provider’s stock worth $226,000 after purchasing an additional 1,000 shares during the period. 19.58% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Weibo Corporation (NASDAQ:WB) opened at 106.11 on Friday. The company has a market capitalization of $22.00 billion, a PE ratio of 122.25 and a beta of 2.61. Weibo Corporation has a 12-month low of $40.12 and a 12-month high of $108.30. The firm’s 50-day moving average price is $92.81 and its 200-day moving average price is $70.33.
Weibo Corporation (NASDAQ:WB) last issued its quarterly earnings data on Wednesday, August 9th. The information services provider reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $253.37 million during the quarter, compared to the consensus estimate of $246.78 million. Weibo Corporation had a net margin of 23.22% and a return on equity of 24.45%. The company’s revenue was up 72.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.16 earnings per share. On average, analysts expect that Weibo Corporation will post $1.63 EPS for the current fiscal year.
A number of equities analysts recently commented on WB shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $82.00 target price on shares of Weibo Corporation in a report on Thursday, July 27th. Barclays PLC set a $100.00 target price on Weibo Corporation and gave the stock an “overweight” rating in a report on Friday, August 11th. Citigroup Inc. reaffirmed a “buy” rating and issued a $126.00 target price (up from $102.00) on shares of Weibo Corporation in a report on Thursday. Zacks Investment Research cut Weibo Corporation from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, BidaskClub raised Weibo Corporation from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Nine investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $85.28.
About Weibo Corporation
Weibo Corporation is a social media platform for people to create, distribute and discover Chinese-language content. The Company provides ways for people and organizations to publicly express themselves in real time, interact with others on a global platform and stay connected with the world. It operates in two segments: advertising and marketing services and other services.
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