58.com Inc (NYSE:WUBA) was the recipient of unusually large options trading on Wednesday. Traders purchased 40,000 put options on the company. This represents an increase of 1,796% compared to the average volume of 2,110 put options.

58.com (NYSE:WUBA) opened at 42.12 on Friday. The company has a 50 day moving average price of $39.30 and a 200-day moving average price of $34.58. 58.com has a one year low of $27.58 and a one year high of $55.28. The company’s market capitalization is $6.12 billion.

A number of equities analysts have issued reports on the company. TH Capital assumed coverage on 58.com in a report on Wednesday, May 10th. They set a “buy” rating and a $48.00 price target on the stock. TheStreet upgraded 58.com from a “d+” rating to a “c” rating in a report on Thursday, May 11th. T.H. Capital assumed coverage on 58.com in a report on Wednesday, May 10th. They set a “buy” rating and a $48.00 price target on the stock. Zacks Investment Research upgraded 58.com from a “hold” rating to a “strong-buy” rating and set a $46.00 price target on the stock in a report on Wednesday, May 3rd. Finally, Haitong Bank cut 58.com from a “neutral” rating to a “sell” rating and cut their price target for the stock from $31.00 to $30.00 in a report on Tuesday, March 14th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $46.63.

Several large investors have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in 58.com by 23.1% in the first quarter. FMR LLC now owns 12,046,536 shares of the information services provider’s stock valued at $426,327,000 after buying an additional 2,257,370 shares in the last quarter. General Atlantic LLC raised its stake in 58.com by 86.9% in the first quarter. General Atlantic LLC now owns 5,840,000 shares of the information services provider’s stock valued at $206,678,000 after buying an additional 2,715,000 shares in the last quarter. Hillhouse Capital Management Ltd. purchased a new stake in 58.com during the third quarter valued at $264,534,000. Ruane Cunniff & Goldfarb Inc. raised its stake in 58.com by 4.7% in the fourth quarter. Ruane Cunniff & Goldfarb Inc. now owns 5,248,519 shares of the information services provider’s stock valued at $146,959,000 after buying an additional 236,203 shares in the last quarter. Finally, Platinum Investment Management Ltd. raised its stake in 58.com by 13.6% in the first quarter. Platinum Investment Management Ltd. now owns 5,170,041 shares of the information services provider’s stock valued at $182,967,000 after buying an additional 617,217 shares in the last quarter. Institutional investors own 55.74% of the company’s stock.

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About 58.com

58.com Inc is a holding company. The Company’s business consists of its online classifieds and listing platforms. Its online classifieds and listings platforms enable local merchants and consumers to connect, share information and conduct business in China. These platforms include 58, Ganji and Anjuke.

12 Month Chart for NYSE:WUBA

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