Teacher Retirement System of Texas Acquires New Holdings in Weibo Corporation (WB)

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

A number of other large investors also recently made changes to their positions in WB. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Weibo by 40.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,645 shares of the information services provider’s stock valued at $708,000 after acquiring an additional 3,045 shares in the last quarter. Lockheed Martin Investment Management Co. purchased a new stake in shares of Weibo in the second quarter valued at about $757,000. First Manhattan Co. purchased a new stake in Weibo during the second quarter worth about $741,000. Nicholas Investment Partners LP purchased a new stake in Weibo during the second quarter worth about $3,222,000. Finally, BT Investment Management Ltd purchased a new stake in Weibo during the second quarter worth about $63,749,000. Hedge funds and other institutional investors own 21.98% of the company’s stock.

Weibo Corporation (NASDAQ:WB) traded down $2.05 on Wednesday, reaching $98.36. 1,876,948 shares of the company’s stock traded hands, compared to its average volume of 2,034,222. Weibo Corporation has a 12 month low of $40.12 and a 12 month high of $123.00. The stock has a market capitalization of $22,570.77, a P/E ratio of 86.47 and a beta of 2.54.

Weibo (NASDAQ:WB) last announced its earnings results on Tuesday, November 7th. The information services provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.06. Weibo had a net margin of 26.85% and a return on equity of 30.00%. The business had revenue of $320.00 million during the quarter, compared to the consensus estimate of $297.20 million. During the same period in the prior year, the firm earned $0.24 earnings per share. The business’s quarterly revenue was up 80.9% compared to the same quarter last year. sell-side analysts anticipate that Weibo Corporation will post 1.5 EPS for the current fiscal year.

A number of equities analysts have issued reports on WB shares. Jefferies Group cut their target price on shares of Weibo from $105.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, August 10th. Barclays set a $100.00 target price on shares of Weibo and gave the stock an “overweight” rating in a research report on Friday, August 11th. Instinet restated a “buy” rating and set a $102.00 target price (up previously from $91.00) on shares of Weibo in a research report on Friday, August 11th. Zacks Investment Research raised shares of Weibo from a “hold” rating to a “strong-buy” rating and set a $95.00 price objective for the company in a research report on Tuesday, August 15th. Finally, Citigroup reissued a “buy” rating and issued a $126.00 price objective (up previously from $102.00) on shares of Weibo in a research report on Thursday, September 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $93.39.

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Weibo 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 (NASDAQ:WB)

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