Credit Suisse AG lowered its stake in shares of Weibo Corp (NASDAQ:WB) by 60.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,163 shares of the information services provider’s stock after selling 241,525 shares during the quarter. Credit Suisse AG owned 0.07% of Weibo worth $11,785,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the business. MERIAN GLOBAL INVESTORS UK Ltd grew its stake in Weibo by 28.2% in the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,590,940 shares of the information services provider’s stock valued at $189,475,000 after purchasing an additional 569,900 shares during the period. BlackRock Inc. grew its stake in Weibo by 6.3% in the 3rd quarter. BlackRock Inc. now owns 2,443,502 shares of the information services provider’s stock valued at $178,694,000 after purchasing an additional 145,423 shares during the period. Wells Fargo & Company MN grew its stake in Weibo by 2.8% in the 3rd quarter. Wells Fargo & Company MN now owns 1,589,018 shares of the information services provider’s stock valued at $116,205,000 after purchasing an additional 43,099 shares during the period. Artisan Partners Limited Partnership bought a new position in Weibo in the 2nd quarter valued at $109,350,000. Finally, Pendal Group Ltd grew its stake in Weibo by 15.4% in the 3rd quarter. Pendal Group Ltd now owns 736,173 shares of the information services provider’s stock valued at $53,836,000 after purchasing an additional 98,467 shares during the period. Hedge funds and other institutional investors own 23.64% of the company’s stock.
WB has been the topic of a number of recent research reports. BidaskClub cut Weibo from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 18th. Barclays set a $90.00 price target on Weibo and gave the company a “buy” rating in a research report on Thursday, October 18th. JPMorgan Chase & Co. initiated coverage on Weibo in a research report on Wednesday, August 29th. They set an “overweight” rating and a $118.00 price target on the stock. Morgan Stanley set a $72.00 price target on Weibo and gave the company a “buy” rating in a research report on Tuesday, November 27th. Finally, ValuEngine raised Weibo from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 1st. Two 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’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $98.57.
Shares of WB opened at $61.62 on Friday. The stock has a market cap of $14.40 billion, a P/E ratio of 39.50, a P/E/G ratio of 0.91 and a beta of 2.42. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.99 and a current ratio of 3.99. Weibo Corp has a 52-week low of $53.11 and a 52-week high of $142.12.
Weibo (NASDAQ:WB) last issued its quarterly earnings data on Wednesday, November 28th. The information services provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The business had revenue of $460.20 million for the quarter, compared to analysts’ expectations of $459.68 million. Weibo had a return on equity of 38.71% and a net margin of 33.23%. The firm’s quarterly revenue was up 43.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 EPS. As a group, research analysts expect that Weibo Corp will post 2.5 EPS for the current year.
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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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