Pictet Asset Management Ltd. lowered its position in Weibo Corp (NASDAQ:WB) by 3.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,600 shares of the information services provider’s stock after selling 1,400 shares during the period. Pictet Asset Management Ltd.’s holdings in Weibo Corp were worth $2,275,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Weibo Corp by 183.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,774 shares of the information services provider’s stock worth $153,000 after buying an additional 2,443 shares during the last quarter. Advisors Preferred LLC raised its stake in shares of Weibo Corp by 833.0% in the third quarter. Advisors Preferred LLC now owns 3,107 shares of the information services provider’s stock valued at $156,000 after buying an additional 2,774 shares during the last quarter. BOKF NA acquired a new stake in shares of Weibo Corp during the third quarter valued at about $233,000. Comerica Bank acquired a new stake in shares of Weibo Corp during the fourth quarter valued at about $268,000. Finally, BlackRock Inc. raised its stake in shares of Weibo Corp by 32.5% in the third quarter. BlackRock Inc. now owns 5,512 shares of the information services provider’s stock valued at $276,000 after buying an additional 1,353 shares during the last quarter. Institutional investors and hedge funds own 16.53% of the company’s stock.
Shares of Weibo Corp (NASDAQ WB) traded down 1.17% on Friday, hitting $71.10. 1,217,428 shares of the stock were exchanged. The stock’s 50-day moving average is $69.87 and its 200-day moving average is $54.30. The stock has a market cap of $14.74 billion, a price-to-earnings ratio of 108.05 and a beta of 2.62. Weibo Corp has a 1-year low of $26.01 and a 1-year high of $82.28.
Weibo Corp (NASDAQ:WB) last announced its earnings results on Tuesday, May 16th. The information services provider reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.05. The company had revenue of $199.20 million during the quarter, compared to the consensus estimate of $188.29 million. Weibo Corp had a net margin of 23.41% and a return on equity of 24.01%. The firm’s revenue for the quarter was up 67.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.07 earnings per share. Analysts forecast that Weibo Corp will post $1.51 earnings per share for the current year.
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Several equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Weibo Corp from a “hold” rating to a “strong-buy” rating and set a $91.00 price target on the stock in a research note on Saturday, May 20th. Barclays PLC reiterated an “overweight” rating and issued a $85.00 price target (up from $66.00) on shares of Weibo Corp in a research note on Wednesday, May 17th. Jefferies Group LLC reiterated a “buy” rating and issued a $82.00 price target on shares of Weibo Corp in a research note on Tuesday, May 16th. T.H. Capital reiterated a “buy” rating and issued a $70.00 price target (up from $60.00) on shares of Weibo Corp in a research note on Tuesday, May 9th. Finally, Vetr lowered shares of Weibo Corp from a “strong-buy” rating to a “buy” rating and set a $65.50 price target on the stock. in a research note on Monday, May 8th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Weibo Corp has an average rating of “Buy” and a consensus target price of $66.95.
Weibo Corp 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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