Xact Kapitalforvaltning AB lifted its holdings in Weibo Corp (NASDAQ:WB) by 8.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,943 shares of the information services provider’s stock after buying an additional 600 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in Weibo were worth $950,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Greenleaf Trust purchased a new stake in shares of Weibo in the first quarter worth approximately $232,000. Sequoia Financial Advisors LLC bought a new position in Weibo in the fourth quarter worth approximately $203,000. Atria Investments LLC bought a new position in Weibo in the first quarter worth approximately $250,000. Sterling Capital Management LLC bought a new position in Weibo in the fourth quarter worth approximately $218,000. Finally, Liberty Mutual Group Asset Management Inc. bought a new position in Weibo in the fourth quarter worth approximately $218,000. Hedge funds and other institutional investors own 23.68% of the company’s stock.
Shares of Weibo opened at $88.76 on Friday, MarketBeat reports. Weibo Corp has a 52-week low of $65.65 and a 52-week high of $142.12. The company has a market capitalization of $19.28 billion, a P/E ratio of 56.90 and a beta of 2.54. The company has a current ratio of 3.99, a quick ratio of 3.99 and a debt-to-equity ratio of 0.66.
Weibo (NASDAQ:WB) last announced its earnings results on Wednesday, May 9th. The information services provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.08. The business had revenue of $319.90 million for the quarter, compared to analysts’ expectations of $343.91 million. Weibo had a return on equity of 36.15% and a net margin of 31.12%. The business’s revenue for the quarter was up 60.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.26 EPS. equities research analysts predict that Weibo Corp will post 2.72 earnings per share for the current fiscal year.
Several research analysts recently issued reports on the company. BidaskClub raised Weibo from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 9th. Jefferies Financial Group increased their price objective on Weibo to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, March 13th. ValuEngine raised Weibo from a “buy” rating to a “strong-buy” rating in a research note on Monday, May 7th. Zacks Investment Research raised Weibo from a “hold” rating to a “buy” rating and set a $131.00 price objective on the stock in a research note on Friday, April 20th. Finally, BNP Paribas assumed coverage on Weibo in a research note on Thursday, June 14th. They issued a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Weibo presently has a consensus rating of “Buy” and an average target price of $134.67.
Weibo Company Profile
Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates through two segments, Advertising and Marketing Services, and Value-Added Services. The company offers self-expression products that enable its users to express themselves on its platform; social products to promote social interaction between users on its platform; and discovery products to help users discover content on its platform.
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