Weibo Corp (WB) Stake Lessened by Millennium Management LLC

Millennium Management LLC decreased its holdings in Weibo Corp (NASDAQ:WB) by 58.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 113,038 shares of the information services provider’s stock after selling 158,453 shares during the period. Millennium Management LLC owned approximately 0.05% of Weibo worth $11,695,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of Weibo by 15.0% during the 4th quarter. BlackRock Inc. now owns 3,251,990 shares of the information services provider’s stock valued at $336,452,000 after acquiring an additional 425,313 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Weibo by 16.0% during the 4th quarter. Acadian Asset Management LLC now owns 1,994,583 shares of the information services provider’s stock valued at $206,361,000 after acquiring an additional 274,466 shares in the last quarter. BT Investment Management Ltd boosted its holdings in shares of Weibo by 1.3% during the 4th quarter. BT Investment Management Ltd now owns 1,036,377 shares of the information services provider’s stock valued at $107,224,000 after acquiring an additional 13,549 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Weibo by 23.6% during the 3rd quarter. Janus Henderson Group PLC now owns 376,032 shares of the information services provider’s stock valued at $37,199,000 after acquiring an additional 71,677 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Weibo by 2,256.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 279,287 shares of the information services provider’s stock valued at $28,894,000 after acquiring an additional 267,433 shares in the last quarter. Institutional investors own 22.40% of the company’s stock.

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Several equities research analysts recently weighed in on the company. BidaskClub downgraded Weibo from a “strong-buy” rating to a “buy” rating in a report on Friday. Jefferies Group raised their price objective on Weibo to $160.00 and gave the company a “buy” rating in a report on Tuesday, March 13th. ValuEngine raised Weibo from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Zacks Investment Research downgraded Weibo from a “buy” rating to a “hold” rating in a report on Saturday, February 24th. Finally, JPMorgan Chase raised their price objective on Weibo from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $124.50.

Shares of WB opened at $113.60 on Friday. The stock has a market cap of $25,778.42, a price-to-earnings ratio of 72.82 and a beta of 2.60. Weibo Corp has a 12 month low of $48.82 and a 12 month 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.

Weibo (NASDAQ:WB) last announced its earnings results on Tuesday, February 13th. The information services provider reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.05. The firm had revenue of $377.40 million for the quarter, compared to the consensus estimate of $362.04 million. Weibo had a return on equity of 35.57% and a net margin of 30.66%. The business’s quarterly revenue was up 77.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 EPS. equities research analysts forecast that Weibo Corp will post 2.58 EPS for the current year.

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Weibo 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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Institutional Ownership by Quarter for Weibo (NASDAQ:WB)

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