Wells Fargo & Company MN increased its holdings in SINA Corp (NASDAQ:SINA) by 1.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,382,628 shares of the technology company’s stock after purchasing an additional 38,673 shares during the period. Wells Fargo & Company MN owned approximately 3.33% of SINA worth $165,546,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of SINA. Dimensional Fund Advisors LP lifted its position in shares of SINA by 25.3% during the first quarter. Dimensional Fund Advisors LP now owns 27,098 shares of the technology company’s stock valued at $2,826,000 after buying an additional 5,467 shares during the last quarter. Royal Bank of Canada grew its stake in shares of SINA by 44.0% during the 1st quarter. Royal Bank of Canada now owns 9,245 shares of the technology company’s stock worth $965,000 after purchasing an additional 2,826 shares during the period. Xact Kapitalforvaltning AB grew its stake in shares of SINA by 22.7% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 8,100 shares of the technology company’s stock worth $686,000 after purchasing an additional 1,500 shares during the period. Daiwa SB Investments Ltd. acquired a new stake in shares of SINA during the 2nd quarter worth approximately $1,304,000. Finally, Bank of Montreal Can purchased a new position in shares of SINA during the 2nd quarter valued at approximately $406,000. Institutional investors and hedge funds own 67.03% of the company’s stock.
Shares of SINA stock opened at $61.82 on Friday. SINA Corp has a 1-year low of $56.67 and a 1-year high of $124.60. The firm has a market cap of $4.67 billion, a P/E ratio of 29.58 and a beta of 0.99. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.24.
SINA (NASDAQ:SINA) last posted its earnings results on Wednesday, August 8th. The technology company reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.39. SINA had a return on equity of 4.39% and a net margin of 8.23%. The company had revenue of $537.36 million for the quarter, compared to analyst estimates of $538.10 million. During the same quarter in the prior year, the company earned $0.70 earnings per share. SINA’s revenue was up 49.7% compared to the same quarter last year. Equities analysts predict that SINA Corp will post 2.26 EPS for the current fiscal year.
A number of research analysts have weighed in on SINA shares. Zacks Investment Research upgraded SINA from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a report on Monday, July 30th. BidaskClub upgraded SINA from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 16th. JPMorgan Chase & Co. began coverage on SINA in a research report on Wednesday, August 29th. They set an “overweight” rating and a $150.00 price objective for the company. Jefferies Financial Group reissued a “buy” rating and set a $144.00 price objective on shares of SINA in a research report on Thursday, July 26th. Finally, ValuEngine downgraded SINA from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 7th. Three research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $122.40.
SINA Corporation, through its subsidiaries, operates as an online media company in the People's Republic of China. It operates SINA.com, an online brand advertising portal that provides region-focused format and content, including multimedia news; business news coverage and personal finance columns; sporting events news; automobile-related news; entertainment news and events; technology updates; interactive video products, such as news, sports, and entertainment; and education, digital, fashion, luxury, health, collectibles, travel, and other interest-based channels.
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