California Public Employees Retirement System reduced its position in Weibo Corp. (NASDAQ:WB) by 3.1% during the second quarter, Holdings Channel reports. The firm owned 66,200 shares of the company’s stock after selling 2,100 shares during the period. California Public Employees Retirement System’s holdings in Weibo Corp. were worth $1,881,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Fox Run Management L.L.C. bought a new position in Weibo Corp. during the second quarter worth about $216,000. Bank of Montreal Can bought a new position in Weibo Corp. during the second quarter worth about $236,000. HBK Investments L P bought a new position in Weibo Corp. during the first quarter worth about $300,000. Edmond DE Rothschild Holding S.A. bought a new position in Weibo Corp. during the first quarter worth about $616,000. Finally, Societe Generale acquired a new position in Weibo Corp. during the second quarter valued at $703,000. Hedge funds and other institutional investors own 12.33% of the company’s stock.
Weibo Corp. (NASDAQ:WB) traded down 1.5402% during trading on Friday, reaching $51.8194. 808,554 shares of the company traded hands. The firm has a market capitalization of $10.74 billion, a price-to-earnings ratio of 172.7313 and a beta of 2.70. Weibo Corp. has a 52 week low of $12.09 and a 52 week high of $55.59. The company’s 50-day moving average price is $48.88 and its 200 day moving average price is $32.58.
Weibo Corp. (NASDAQ:WB) last released its quarterly earnings results on Monday, August 8th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.05. The business had revenue of $146.90 million for the quarter, compared to analysts’ expectations of $141.15 million. Weibo Corp. had a net margin of 12.33% and a return on equity of 10.62%. The firm’s revenue for the quarter was up 36.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.05 earnings per share. On average, equities research analysts expect that Weibo Corp. will post $0.73 EPS for the current year.
Several research analysts have weighed in on the stock. Citigroup Inc. assumed coverage on shares of Weibo Corp. in a report on Friday, August 5th. They set a “buy” rating on the stock. Jefferies Group restated a “buy” rating and set a $60.00 price objective (up previously from $43.00) on shares of Weibo Corp. in a report on Monday. Zacks Investment Research downgraded shares of Weibo Corp. from a “buy” rating to a “hold” rating in a report on Thursday, July 14th. T.H. Capital upped their price objective on shares of Weibo Corp. from $38.00 to $60.00 and gave the stock a “buy” rating in a report on Friday. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and issued a $43.00 target price on shares of Weibo Corp. in a research note on Thursday, August 11th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Weibo Corp. currently has an average rating of “Buy” and an average target price of $49.29.
About Weibo Corp.
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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