Oppenheimer Asset Management Inc. lifted its stake in Weibo (NASDAQ:WB) by 38.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,804 shares of the information services provider’s stock after purchasing an additional 10,469 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Weibo were worth $4,519,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in WB. Sequoia Financial Advisors LLC purchased a new position in Weibo during the 4th quarter worth approximately $203,000. YorkBridge Wealth Partners LLC raised its position in Weibo by 70.2% during the 4th quarter. YorkBridge Wealth Partners LLC now owns 1,801 shares of the information services provider’s stock worth $212,000 after buying an additional 743 shares during the last quarter. Liberty Mutual Group Asset Management Inc. purchased a new position in Weibo during the 4th quarter worth approximately $218,000. Sterling Capital Management LLC purchased a new position in Weibo during the 4th quarter worth approximately $218,000. Finally, Greenleaf Trust purchased a new position in Weibo during the 1st quarter worth approximately $232,000. 23.87% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently commented on the stock. BidaskClub raised shares of Weibo from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 4th. Zacks Investment Research cut shares of Weibo from a “buy” rating to a “hold” rating in a research note on Saturday, February 17th. Benchmark raised their price objective on shares of Weibo from $110.00 to $148.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Finally, ValuEngine raised shares of Weibo from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $134.67.
Shares of Weibo opened at $102.40 on Friday, according to Marketbeat. Weibo has a 12 month low of $65.65 and a 12 month high of $142.12. The company has a market cap of $22.71 billion, a PE ratio of 65.64 and a beta of 2.61. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.99 and a current ratio of 3.99.
Weibo (NASDAQ:WB) last released its quarterly earnings results on Wednesday, May 9th. The information services provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. Weibo had a net margin of 31.12% and a return on equity of 36.15%. The firm had revenue of $319.90 million for the quarter, compared to analysts’ expectations of $343.91 million. During the same quarter last year, the company earned $0.26 EPS. The firm’s revenue for the quarter was up 60.6% compared to the same quarter last year. analysts forecast that Weibo will post 2.72 EPS for the current fiscal year.
Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates through two segments, Advertising and Marketing Services, and Value-Added Services. The company offers self-expression products that enable its users to express themselves on its platform; social products to promote social interaction between users on its platform; and discovery products to help users discover content on its platform.
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