Commerzbank Aktiengesellschaft FI raised its position in Weibo Corp (NASDAQ:WB) by 92.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 265,138 shares of the information services provider’s stock after purchasing an additional 127,442 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Weibo were worth $23,534,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the business. Federated Investors Inc. PA acquired a new position in Weibo in the 2nd quarter valued at about $985,000. Artisan Partners Limited Partnership purchased a new stake in shares of Weibo in the 2nd quarter valued at approximately $109,350,000. Great West Life Assurance Co. Can raised its stake in shares of Weibo by 8.8% in the 2nd quarter. Great West Life Assurance Co. Can now owns 24,672 shares of the information services provider’s stock valued at $2,190,000 after acquiring an additional 2,000 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Weibo by 20.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 107,509 shares of the information services provider’s stock valued at $9,541,000 after acquiring an additional 18,297 shares during the period. Finally, Yorktown Management & Research Co Inc purchased a new stake in shares of Weibo in the 2nd quarter valued at approximately $240,000. Institutional investors own 27.33% of the company’s stock.
A number of equities research analysts have recently issued reports on WB shares. BidaskClub downgraded shares of Weibo from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 20th. ValuEngine downgraded shares of Weibo from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 16th. Barclays reissued a “buy” rating and issued a $130.00 price target (down from $150.00) on shares of Weibo in a research note on Sunday, July 29th. Jefferies Financial Group reissued a “buy” rating and issued a $145.00 price target on shares of Weibo in a research note on Tuesday, July 24th. Finally, Zacks Investment Research downgraded shares of Weibo from a “buy” rating to a “hold” rating in a research note on Sunday, July 15th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. Weibo has a consensus rating of “Buy” and an average target price of $131.00.
Shares of WB opened at $78.50 on Thursday. Weibo Corp has a fifty-two week low of $70.13 and a fifty-two week high of $142.12. The company has a market cap of $17.87 billion, a P/E ratio of 50.32 and a beta of 2.42. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.61.
Weibo (NASDAQ:WB) last announced its earnings results on Wednesday, August 8th. The information services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.02. Weibo had a net margin of 32.03% and a return on equity of 37.75%. The firm had revenue of $426.60 million for the quarter, compared to the consensus estimate of $426.54 million. During the same period in the prior year, the firm earned $0.38 EPS. The firm’s revenue for the quarter was up 68.4% on a year-over-year basis. research analysts forecast that Weibo Corp will post 2.64 earnings per share for the current fiscal year.
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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