Dorsey Wright & Associates Grows Stake in Weibo Co. (WB)

Dorsey Wright & Associates increased its stake in shares of Weibo Co. (NASDAQ:WB) by 157.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,748 shares of the information services provider’s stock after purchasing an additional 3,517 shares during the period. Dorsey Wright & Associates’ holdings in Weibo were worth $574,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New York State Common Retirement Fund purchased a new stake in Weibo during the third quarter valued at approximately $18,190,000. Sei Investments Co. increased its holdings in Weibo by 283.1% during the third quarter. Sei Investments Co. now owns 109,904 shares of the information services provider’s stock valued at $10,874,000 after buying an additional 81,218 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in Weibo by 80.7% during the third quarter. BNP Paribas Arbitrage SA now owns 170,244 shares of the information services provider’s stock valued at $16,844,000 after buying an additional 76,053 shares during the last quarter. FDx Advisors Inc. purchased a new stake in Weibo during the third quarter valued at approximately $392,000. Finally, Global X MANAGEMENT CO LLC increased its holdings in Weibo by 20.4% during the third quarter. Global X MANAGEMENT CO LLC now owns 120,167 shares of the information services provider’s stock valued at $11,889,000 after buying an additional 20,372 shares during the last quarter. 19.54% of the stock is owned by hedge funds and other institutional investors.

Weibo Co. (NASDAQ:WB) traded up $3.42 on Tuesday, hitting $108.58. 1,751,600 shares of the company’s stock were exchanged, compared to its average volume of 2,029,311. The company has a market capitalization of $23,263.18, a price-to-earnings ratio of 89.12 and a beta of 2.50. Weibo Co. has a fifty-two week low of $40.12 and a fifty-two week high of $110.48.

Weibo (NASDAQ:WB) last posted its quarterly earnings results on Tuesday, November 7th. The information services provider reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.06. The business had revenue of $320.00 million during the quarter, compared to analyst estimates of $297.20 million. Weibo had a net margin of 31.46% and a return on equity of 41.72%. The company’s revenue was up 80.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 earnings per share. analysts forecast that Weibo Co. will post 1.49 earnings per share for the current fiscal year.

A number of brokerages have commented on WB. Jefferies Group LLC reduced their target price on shares of Weibo from $105.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, August 10th. Instinet reaffirmed a “buy” rating and set a $102.00 target price (up from $91.00) on shares of Weibo in a report on Friday, August 11th. BidaskClub raised shares of Weibo from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Benchmark Co. reduced their target price on shares of Weibo from $110.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, November 8th. Finally, Zacks Investment Research upgraded shares of Weibo from a “hold” rating to a “strong-buy” rating and set a $95.00 price target for the company in a research report on Tuesday, August 15th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Weibo has a consensus rating of “Buy” and an average price target of $88.61.

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About Weibo

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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Institutional Ownership by Quarter for Weibo (NASDAQ:WB)

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