Weibo Corp (WB) Stake Lessened by Formula Growth Ltd.

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Formula Growth Ltd. lowered its position in shares of Weibo Corp (NASDAQ:WB) by 31.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,789 shares of the information services provider’s stock after selling 5,330 shares during the period. Formula Growth Ltd.’s holdings in Weibo were worth $1,046,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mariner LLC increased its holdings in Weibo by 18.4% in the 1st quarter. Mariner LLC now owns 3,281 shares of the information services provider’s stock valued at $393,000 after purchasing an additional 509 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in Weibo by 11.1% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,111 shares of the information services provider’s stock valued at $611,000 after purchasing an additional 511 shares during the last quarter. Xact Kapitalforvaltning AB increased its holdings in Weibo by 8.2% in the 1st quarter. Xact Kapitalforvaltning AB now owns 7,943 shares of the information services provider’s stock valued at $950,000 after purchasing an additional 600 shares during the last quarter. BB&T Corp increased its holdings in Weibo by 6.7% in the 2nd quarter. BB&T Corp now owns 10,670 shares of the information services provider’s stock valued at $947,000 after purchasing an additional 667 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in Weibo by 10.2% in the 1st quarter. Commonwealth Equity Services LLC now owns 7,376 shares of the information services provider’s stock valued at $881,000 after purchasing an additional 681 shares during the last quarter. Institutional investors and hedge funds own 27.33% of the company’s stock.

Shares of WB stock opened at $72.26 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.97 and a quick ratio of 3.97. Weibo Corp has a 52 week low of $70.13 and a 52 week high of $142.12. The company has a market capitalization of $16.98 billion, a price-to-earnings ratio of 46.32 and a beta of 2.32.

Weibo (NASDAQ:WB) last issued its quarterly earnings results on Wednesday, August 8th. The information services provider reported $0.68 EPS for the quarter, beating the Thomson Reuters’ 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 company had revenue of $426.60 million during the quarter, compared to analysts’ expectations of $426.54 million. During the same quarter last year, the company posted $0.38 EPS. The firm’s revenue was up 68.4% compared to the same quarter last year. equities analysts forecast that Weibo Corp will post 2.54 EPS for the current fiscal year.

Several analysts recently weighed in on the stock. ValuEngine downgraded shares of Weibo from a “sell” rating to a “strong sell” rating in a report on Thursday. BidaskClub cut shares of Weibo from a “hold” rating to a “sell” rating in a research report on Wednesday. Jefferies Financial Group reissued a “buy” rating and issued a $145.00 price target on shares of Weibo in a research report on Tuesday, July 24th. Zacks Investment Research cut shares of Weibo from a “buy” rating to a “hold” rating in a research report on Sunday, July 15th. Finally, BNP Paribas assumed coverage on shares of Weibo in a research report on Thursday, June 14th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $131.00.

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.

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Institutional Ownership by Quarter for Weibo (NASDAQ:WB)

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