Platinum Investment Management Ltd. boosted its position in Weibo Corp (NASDAQ:WB) by 21.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 400,016 shares of the information services provider’s stock after purchasing an additional 71,990 shares during the period. Weibo comprises 1.1% of Platinum Investment Management Ltd.’s investment portfolio, making the stock its 24th biggest position. Platinum Investment Management Ltd. owned approximately 0.18% of Weibo worth $41,385,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of WB. NEXT Financial Group Inc boosted its stake in Weibo by 9,900.0% in the third quarter. NEXT Financial Group Inc now owns 1,000 shares of the information services provider’s stock valued at $100,000 after acquiring an additional 990 shares during the last quarter. Risk Paradigm Group LLC purchased a new position in Weibo in the third quarter valued at about $109,000. Sequoia Financial Advisors LLC purchased a new position in Weibo in the fourth quarter valued at about $203,000. Ipswich Investment Management Co. Inc. purchased a new position in Weibo in the fourth quarter valued at about $208,000. Finally, YorkBridge Wealth Partners LLC boosted its stake in Weibo by 70.2% in the fourth quarter. YorkBridge Wealth Partners LLC now owns 1,801 shares of the information services provider’s stock valued at $212,000 after acquiring an additional 743 shares during the last quarter. 22.40% of the stock is owned by institutional investors and hedge funds.
NASDAQ WB opened at $113.60 on Friday. Weibo Corp has a 1 year low of $48.82 and a 1 year 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. The company has a market capitalization of $25,778.42, a price-to-earnings ratio of 72.82 and a beta of 2.60.
Weibo (NASDAQ:WB) last posted its earnings results on Tuesday, February 13th. The information services provider reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.05. Weibo had a net margin of 30.66% and a return on equity of 35.57%. The business had revenue of $377.40 million for the quarter, compared to analysts’ expectations of $362.04 million. During the same period in the prior year, the company posted $0.34 EPS. The business’s revenue for the quarter was up 77.4% compared to the same quarter last year. research analysts forecast that Weibo Corp will post 2.58 EPS for the current fiscal year.
A number of analysts recently commented on the stock. BidaskClub cut shares of Weibo from a “strong-buy” rating to a “buy” rating in a research note on Friday. Jefferies Group upped their price target on shares of Weibo to $160.00 and gave the company a “buy” rating in a research note on Tuesday, March 13th. ValuEngine upgraded shares of Weibo from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research cut shares of Weibo from a “buy” rating to a “hold” rating in a research note on Saturday, February 24th. Finally, JPMorgan Chase upped their price target on shares of Weibo from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $124.50.
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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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