Credit Suisse AG Sells 241,525 Shares of Weibo Corp (WB)

Credit Suisse AG cut its position in shares of Weibo Corp (NASDAQ:WB) by 60.0% during the 3rd quarter, Holdings Channel reports. The firm owned 161,163 shares of the information services provider’s stock after selling 241,525 shares during the period. Credit Suisse AG’s holdings in Weibo were worth $11,785,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. OLD Mutual Customised Solutions Proprietary Ltd. grew its position in Weibo by 43.8% during the 2nd quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,300 shares of the information services provider’s stock worth $204,000 after acquiring an additional 700 shares during the last quarter. Andra AP fonden grew its position in Weibo by 1.7% during the 2nd quarter. Andra AP fonden now owns 41,700 shares of the information services provider’s stock worth $3,701,000 after acquiring an additional 700 shares during the last quarter. Comerica Bank grew its position in Weibo by 6.9% during the 3rd quarter. Comerica Bank now owns 12,341 shares of the information services provider’s stock worth $726,000 after acquiring an additional 793 shares during the last quarter. Bessemer Group Inc. grew its position in Weibo by 17.4% during the 3rd quarter. Bessemer Group Inc. now owns 5,868 shares of the information services provider’s stock worth $429,000 after acquiring an additional 869 shares during the last quarter. Finally, FDx Advisors Inc. grew its position in Weibo by 12.3% during the 2nd quarter. FDx Advisors Inc. now owns 7,957 shares of the information services provider’s stock worth $706,000 after acquiring an additional 874 shares during the last quarter. Hedge funds and other institutional investors own 23.64% of the company’s stock.

NASDAQ WB opened at $61.62 on Friday. Weibo Corp has a fifty-two week low of $53.11 and a fifty-two week high of $142.12. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.99 and a quick ratio of 3.99. The company has a market capitalization of $14.40 billion, a price-to-earnings ratio of 39.50, a price-to-earnings-growth ratio of 0.91 and a beta of 2.42.

Weibo (NASDAQ:WB) last released its quarterly earnings data on Wednesday, November 28th. The information services provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.02. Weibo had a return on equity of 38.71% and a net margin of 33.23%. The business had revenue of $460.20 million during the quarter, compared to analysts’ expectations of $459.68 million. During the same quarter last year, the business posted $0.51 EPS. The business’s revenue was up 43.8% on a year-over-year basis. As a group, research analysts expect that Weibo Corp will post 2.5 earnings per share for the current year.

Several equities analysts recently issued reports on WB shares. Barclays set a $90.00 price target on Weibo and gave the stock a “buy” rating in a research report on Thursday, October 18th. Benchmark reduced their price target on Weibo from $148.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, November 5th. Jefferies Financial Group reduced their price target on Weibo to $90.00 and set a “buy” rating on the stock in a research report on Monday, November 5th. TH Capital reduced their price target on Weibo and set a “buy” rating on the stock in a research report on Wednesday, November 14th. Finally, Morgan Stanley set a $72.00 price target on Weibo and gave the stock a “buy” rating in a research report on Tuesday, November 27th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $98.57.

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About Weibo

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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Institutional Ownership by Quarter for Weibo (NASDAQ:WB)

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