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.
TRADEMARK VIOLATION WARNING: This piece was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this piece can be viewed at https://ledgergazette.com/2017/12/07/teacher-retirement-system-of-texas-takes-position-in-weibo-corporation-wb.html.
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.
Receive News & Ratings for Weibo Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Weibo Corporation and related companies with MarketBeat.com's FREE daily email newsletter.