Teacher Retirement System of Texas Takes Position in Weibo Corporation (WB)

Teacher Retirement System of Texas purchased a new position in shares of Weibo Corporation (NASDAQ:WB) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 25,329 shares of the information services provider’s stock, valued at approximately $2,506,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Advisor Group Inc. increased its holdings in Weibo Corporation by 13.7% in the third quarter. Advisor Group Inc. now owns 5,043 shares of the information services provider’s stock valued at $499,000 after buying an additional 609 shares in the last quarter. CI Investments Inc. increased its holdings in Weibo Corporation by 281.1% in the third quarter. CI Investments Inc. now owns 54,300 shares of the information services provider’s stock valued at $5,372,000 after buying an additional 40,050 shares in the last quarter. Dorsey Wright & Associates increased its holdings in Weibo Corporation by 157.6% in the third quarter. Dorsey Wright & Associates now owns 5,748 shares of the information services provider’s stock valued at $574,000 after buying an additional 3,517 shares in the last quarter. New York State Common Retirement Fund purchased a new position in Weibo Corporation in the third quarter valued at about $18,190,000. Finally, Sei Investments Co. increased its holdings in Weibo Corporation by 283.1% in the third quarter. Sei Investments Co. now owns 109,904 shares of the information services provider’s stock valued at $10,874,000 after buying an additional 81,218 shares in the last quarter. 19.89% of the stock is owned by hedge funds and other institutional investors.

Shares of Weibo Corporation (NASDAQ:WB) opened at $120.43 on Tuesday. Weibo Corporation has a one year low of $40.12 and a one year high of $122.49. The stock has a market cap of $25,601.44, a price-to-earnings ratio of 98.08 and a beta of 2.50.

Weibo Corporation (NASDAQ:WB) last released its earnings results on Tuesday, November 7th. The information services provider reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.06. The company had revenue of $320.00 million during the quarter, compared to the consensus estimate of $297.20 million. Weibo Corporation had a net margin of 26.85% and a return on equity of 30.00%. The company’s revenue was up 80.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 EPS. analysts predict that Weibo Corporation will post 1.49 earnings per share for the current year.

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WB has been the topic of a number of analyst reports. BidaskClub upgraded shares of Weibo Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Barclays PLC lifted their price target on shares of Weibo Corporation from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, November 14th. Zacks Investment Research upgraded shares of Weibo Corporation from a “hold” rating to a “buy” rating and set a $118.00 price target on the stock in a report on Tuesday, November 14th. Citigroup Inc. reiterated a “buy” rating and issued a $126.00 price target (up previously from $102.00) on shares of Weibo Corporation in a report on Thursday, September 14th. Finally, Benchmark Co. decreased their price target on shares of Weibo Corporation from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, November 8th. Ten research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average price target of $93.39.

Weibo Corporation Company Profile

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.

Institutional Ownership by Quarter for Weibo Corporation (NASDAQ:WB)

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