Essex Investment Management Co. LLC lifted its holdings in shares of Weibo Co. (NASDAQ:WB) by 25.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 5,471 shares of the information services provider’s stock after purchasing an additional 1,121 shares during the period. Essex Investment Management Co. LLC’s holdings in Weibo were worth $541,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in 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 buying an additional 3,045 shares during the period. Lockheed Martin Investment Management Co. acquired a new position in Weibo in the second quarter valued at about $757,000. First Manhattan Co. acquired a new position in Weibo in the second quarter valued at about $741,000. Nicholas Investment Partners LP acquired a new position in Weibo in the second quarter valued at about $3,222,000. Finally, BT Investment Management Ltd acquired a new position in Weibo in the second quarter valued at about $63,749,000. Institutional investors and hedge funds own 19.54% of the company’s stock.
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Weibo Co. (NASDAQ WB) opened at $108.58 on Tuesday. The company has a market capitalization of $23,263.18, a P/E ratio of 89.12 and a beta of 2.50. Weibo Co. has a one year low of $40.12 and a one year high of $110.48.
Weibo (NASDAQ:WB) last released its quarterly 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 business had revenue of $320.00 million during the quarter, compared to analysts’ expectations of $297.20 million. Weibo had a return on equity of 41.72% and a net margin of 31.46%. The firm’s revenue for the quarter was up 80.9% compared to the same quarter last year. During the same period last year, the firm posted $0.24 EPS. equities analysts expect that Weibo Co. will post 1.49 EPS for the current year.
A number of equities research analysts have recently commented on WB shares. Zacks Investment Research raised Weibo from a “hold” rating to a “strong-buy” rating and set a $95.00 price target on the stock in a research report on Tuesday, August 15th. Barclays PLC set a $100.00 price objective on Weibo and gave the stock an “overweight” rating in a report on Friday, August 11th. BidaskClub downgraded Weibo from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 7th. Instinet reiterated a “buy” rating and set a $102.00 price objective (up from $91.00) on shares of Weibo in a report on Friday, August 11th. Finally, Jefferies Group LLC decreased their price objective on Weibo from $105.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, August 10th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $88.61.
Weibo 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.
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