Korea Investment CORP Lowers Position in Weibo Corp (WB)

Korea Investment CORP cut its holdings in Weibo Corp (NASDAQ:WB) by 7.0% in the third quarter, HoldingsChannel.com reports. The fund owned 21,300 shares of the information services provider’s stock after selling 1,600 shares during the quarter. Korea Investment CORP’s holdings in Weibo were worth $1,558,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Weibo by 2.2% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 137,954 shares of the information services provider’s stock worth $12,245,000 after purchasing an additional 2,927 shares during the period. First Trust Advisors LP boosted its stake in Weibo by 70.0% in the 2nd quarter. First Trust Advisors LP now owns 196,229 shares of the information services provider’s stock worth $17,417,000 after purchasing an additional 80,822 shares during the period. Victory Capital Management Inc. boosted its stake in Weibo by 16.4% in the 2nd quarter. Victory Capital Management Inc. now owns 56,369 shares of the information services provider’s stock worth $5,003,000 after purchasing an additional 7,946 shares during the period. Virginia Retirement Systems ET AL acquired a new position in Weibo in the 2nd quarter worth $763,000. Finally, Sei Investments Co. boosted its stake in Weibo by 360.8% in the 2nd quarter. Sei Investments Co. now owns 154,680 shares of the information services provider’s stock worth $13,729,000 after purchasing an additional 121,114 shares during the period. 23.64% of the stock is owned by institutional investors.

Shares of WB stock opened at $62.58 on Friday. The company has a current ratio of 3.99, a quick ratio of 3.99 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $14.40 billion, a PE ratio of 40.12, a PEG ratio of 0.91 and a beta of 2.42. Weibo Corp has a 52-week low of $53.11 and a 52-week high of $142.12.

Weibo (NASDAQ:WB) last issued its earnings results on Wednesday, November 28th. The information services provider reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. The company had revenue of $460.20 million for the quarter, compared to analysts’ expectations of $459.68 million. Weibo had a net margin of 33.23% and a return on equity of 38.71%. Weibo’s quarterly revenue was up 43.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 EPS. As a group, equities analysts forecast that Weibo Corp will post 2.49 earnings per share for the current year.

WB has been the subject of a number of recent research reports. Jefferies Financial Group reduced their price objective on shares of Weibo from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, August 9th. JPMorgan Chase & Co. initiated coverage on shares of Weibo in a research note on Wednesday, August 29th. They set an “overweight” rating and a $118.00 price objective for the company. BidaskClub upgraded shares of Weibo from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 25th. ValuEngine upgraded shares of Weibo from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 2nd. Finally, Morgan Stanley set a $72.00 price objective on shares of Weibo and gave the stock a “buy” rating in a research note on Tuesday, November 27th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $98.57.

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Weibo 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.

Further Reading: Earnings Per Share (EPS) Explained

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Institutional Ownership by Quarter for Weibo (NASDAQ:WB)

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