Nomura Asset Management Co. Ltd. raised its holdings in Weibo Corp (NASDAQ:WB) by 511.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,000 shares of the information services provider’s stock after buying an additional 27,600 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Weibo were worth $3,414,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. Harding Loevner LP increased its holdings in Weibo by 2,621.2% in the 3rd quarter. Harding Loevner LP now owns 95,403,043 shares of the information services provider’s stock valued at $476,760,000 after buying an additional 91,897,142 shares during the period. BlackRock Inc. increased its holdings in Weibo by 15.0% in the 4th quarter. BlackRock Inc. now owns 3,251,990 shares of the information services provider’s stock valued at $336,452,000 after buying an additional 425,313 shares during the period. Schroder Investment Management Group increased its holdings in Weibo by 31.1% in the 3rd quarter. Schroder Investment Management Group now owns 2,300,656 shares of the information services provider’s stock valued at $225,672,000 after buying an additional 545,683 shares during the period. Acadian Asset Management LLC increased its holdings in Weibo by 16.0% in the 4th quarter. Acadian Asset Management LLC now owns 1,994,583 shares of the information services provider’s stock valued at $206,361,000 after buying an additional 274,466 shares during the period. Finally, BT Investment Management Ltd boosted its stake in shares of Weibo by 1.3% in the 4th quarter. BT Investment Management Ltd now owns 1,036,377 shares of the information services provider’s stock valued at $107,224,000 after purchasing an additional 13,549 shares in the last quarter. 22.40% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently commented on WB. Jefferies Group boosted their target price on shares of Weibo to $160.00 and gave the company a “buy” rating in a research note on Tuesday. BidaskClub upgraded shares of Weibo from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 9th. ValuEngine upgraded shares of Weibo from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research downgraded shares of Weibo from a “buy” rating to a “hold” rating in a research note on Saturday, February 24th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Weibo from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Weibo currently has a consensus rating of “Buy” and an average price target of $124.50.
Weibo (NASDAQ:WB) last issued its quarterly earnings results on Tuesday, February 13th. The information services provider reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.05. The business had revenue of $377.40 million for the quarter, compared to the consensus estimate of $362.04 million. Weibo had a net margin of 30.66% and a return on equity of 35.57%. The firm’s quarterly revenue was up 77.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 EPS. analysts forecast that Weibo Corp will post 2.57 earnings per share for the current year.
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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