William Blair Investment Management LLC cut its stake in Weibo Corp (NASDAQ:WB) by 13.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 689,361 shares of the information services provider’s stock after selling 103,679 shares during the quarter. William Blair Investment Management LLC owned about 0.31% of Weibo worth $71,321,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of WB. NEXT Financial Group Inc lifted its position in shares of Weibo by 9,900.0% during the third quarter. NEXT Financial Group Inc now owns 1,000 shares of the information services provider’s stock worth $100,000 after purchasing an additional 990 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Weibo during the fourth quarter worth $203,000. Ipswich Investment Management Co. Inc. bought a new stake in shares of Weibo during the fourth quarter worth $208,000. YorkBridge Wealth Partners LLC lifted its position in shares of Weibo by 70.2% during the fourth quarter. YorkBridge Wealth Partners LLC now owns 1,801 shares of the information services provider’s stock worth $212,000 after purchasing an additional 743 shares during the last quarter. Finally, Liberty Mutual Group Asset Management Inc. bought a new stake in shares of Weibo during the fourth quarter worth $218,000. Institutional investors own 22.40% of the company’s stock.
Weibo Corp (NASDAQ WB) opened at $124.81 on Friday. The company has a market capitalization of $29,674.05, a price-to-earnings ratio of 79.50 and a beta of 2.57. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.23 and a current ratio of 4.22. Weibo Corp has a 52 week low of $48.20 and a 52 week high of $142.12.
Weibo (NASDAQ:WB) last announced its quarterly earnings results on Tuesday, February 13th. The information services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.53 by $0.05. The firm had revenue of $377.40 million for the quarter, compared to analyst estimates of $362.04 million. Weibo had a return on equity of 35.57% and a net margin of 30.66%. The business’s revenue for the quarter was up 77.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 earnings per share. analysts forecast that Weibo Corp will post 2.58 EPS for the current year.
Several analysts have recently weighed in on the company. Jefferies Group lifted their target price on Weibo to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, March 13th. BidaskClub upgraded Weibo from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 9th. ValuEngine upgraded Weibo from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research lowered Weibo from a “buy” rating to a “hold” rating in a research note on Saturday, February 24th. Finally, JPMorgan Chase & Co. raised their price target on Weibo from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Weibo has a consensus rating of “Buy” and an average price target of $124.50.
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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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