Lazard Asset Management LLC decreased its holdings in Weibo Corp (NASDAQ:WB) by 2.2% in the fourth quarter, HoldingsChannel reports. The firm owned 31,486 shares of the information services provider’s stock after selling 707 shares during the period. Lazard Asset Management LLC’s holdings in Weibo were worth $3,257,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. NEXT Financial Group Inc raised its stake in Weibo by 9,900.0% in the 3rd quarter. NEXT Financial Group Inc now owns 1,000 shares of the information services provider’s stock worth $100,000 after acquiring an additional 990 shares during the last quarter. Risk Paradigm Group LLC purchased a new position in Weibo in the 3rd quarter worth $109,000. Ipswich Investment Management Co. Inc. purchased a new position in Weibo in the 4th quarter worth $208,000. YorkBridge Wealth Partners LLC raised its stake in Weibo by 70.2% in the 4th quarter. YorkBridge Wealth Partners LLC now owns 1,801 shares of the information services provider’s stock worth $212,000 after acquiring an additional 743 shares during the last quarter. Finally, Liberty Mutual Group Asset Management Inc. purchased a new position in Weibo in the 4th quarter worth $218,000. 22.27% of the stock is owned by hedge funds and other institutional investors.
Weibo Corp (NASDAQ WB) opened at $137.51 on Friday. The firm has a market capitalization of $30,420.00, a PE ratio of 88.72 and a beta of 2.55. Weibo Corp has a 52 week low of $47.36 and a 52 week high of $142.12. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.23 and a current ratio of 4.22.
A number of equities analysts recently issued reports on the company. Barclays raised their target price on Weibo to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 10th. BidaskClub upgraded Weibo from a “hold” rating to a “buy” rating in a research note on Wednesday, January 10th. UBS Group began coverage on Weibo in a research note on Tuesday, January 2nd. They set a “buy” rating and a $125.00 price objective for the company. ValuEngine lowered Weibo from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Finally, JPMorgan Chase & Co. lifted their price objective on Weibo from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $117.41.
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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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