Jefferies Financial Group Inc. Sells 2,094,426 Shares of Weibo Corporation (NASDAQ:WB)

Jefferies Financial Group Inc. lessened its holdings in shares of Weibo Corporation (NASDAQ:WB) by 97.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 55,574 shares of the information services provider’s stock after selling 2,094,426 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Weibo were worth $526,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. RPD Fund Management LLC bought a new position in shares of Weibo in the fourth quarter valued at approximately $19,115,000. Wellington Management Group LLP raised its position in shares of Weibo by 1,641.9% in the fourth quarter. Wellington Management Group LLP now owns 1,048,522 shares of the information services provider’s stock valued at $10,013,000 after purchasing an additional 988,327 shares during the period. Krane Funds Advisors LLC raised its position in shares of Weibo by 25.1% in the first quarter. Krane Funds Advisors LLC now owns 4,332,687 shares of the information services provider’s stock valued at $41,031,000 after purchasing an additional 868,643 shares during the period. Woodline Partners LP bought a new position in shares of Weibo in the fourth quarter valued at approximately $6,853,000. Finally, Quinn Opportunity Partners LLC bought a new position in shares of Weibo in the fourth quarter valued at approximately $6,133,000. Institutional investors own 68.77% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Weibo from a “buy” rating to a “hold” rating in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $9.75.

Weibo Trading Down 0.1%

Shares of WB stock opened at $9.75 on Thursday. Weibo Corporation has a 1 year low of $7.03 and a 1 year high of $12.40. The firm’s fifty day simple moving average is $9.73 and its 200 day simple moving average is $9.54. The firm has a market capitalization of $2.37 billion, a P/E ratio of 7.07 and a beta of 0.10. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.53.

Weibo (NASDAQ:WB) last announced its earnings results on Wednesday, May 21st. The information services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.07. Weibo had a net margin of 20.41% and a return on equity of 12.29%. The business had revenue of $396.86 million for the quarter, compared to analyst estimates of $394.21 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share. Weibo’s revenue was up .4% compared to the same quarter last year. As a group, sell-side analysts predict that Weibo Corporation will post 1.62 EPS for the current year.

Weibo Company Profile

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, discover, and distribute content in the People’s Republic of China. It operates in two segments, Advertising and Marketing Services; and Value-Added Services. The company offers discovery products to help users discover content on its platform; self-expression products that enable its users to express themselves on its platform; and social products to promote social interaction between users on its platform.