Renaissance Technologies LLC decreased its position in shares of Weibo Corp (NASDAQ:WB) by 4.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 326,808 shares of the information services provider’s stock after selling 13,727 shares during the period. Renaissance Technologies LLC owned 0.15% of Weibo worth $33,812,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in WB. NEXT Financial Group Inc raised its position in shares of Weibo by 9,900.0% during the third quarter. NEXT Financial Group Inc now owns 1,000 shares of the information services provider’s stock valued at $100,000 after buying an additional 990 shares during the last quarter. Risk Paradigm Group LLC acquired a new position in shares of Weibo during the third quarter valued at about $109,000. Sequoia Financial Advisors LLC acquired a new position in shares of Weibo during the fourth quarter valued at about $203,000. Ipswich Investment Management Co. Inc. acquired a new position in shares of Weibo during the fourth quarter valued at about $208,000. Finally, YorkBridge Wealth Partners LLC raised its position in shares of Weibo by 70.2% during the fourth quarter. YorkBridge Wealth Partners LLC now owns 1,801 shares of the information services provider’s stock valued at $212,000 after buying an additional 743 shares during the last quarter. 22.40% of the stock is owned by hedge funds and other institutional investors.
Weibo Corp (NASDAQ WB) opened at $133.56 on Tuesday. Weibo Corp has a 52-week low of $47.52 and a 52-week high of $142.12. The company has a debt-to-equity ratio of 0.74, a current ratio of 4.22 and a quick ratio of 2.23. The stock has a market cap of $29,428.50, a PE ratio of 85.07 and a beta of 2.57.
Weibo (NASDAQ:WB) last issued its quarterly earnings data on Tuesday, February 13th. The information services provider reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.05. The firm had revenue of $377.40 million for the quarter, compared to analysts’ expectations of $362.04 million. Weibo had a net margin of 30.66% and a return on equity of 35.57%. The company’s quarterly revenue was up 77.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 earnings per share. analysts expect that Weibo Corp will post 2.58 EPS for the current fiscal year.
A number of research analysts have recently commented on WB shares. Zacks Investment Research lowered shares of Weibo from a “buy” rating to a “hold” rating in a research report on Wednesday, November 29th. ValuEngine lowered shares of Weibo from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. BidaskClub lowered shares of Weibo from a “buy” rating to a “hold” rating in a research report on Saturday, December 2nd. UBS began coverage on shares of Weibo in a research report on Tuesday, January 2nd. They issued a “buy” rating and a $125.00 price target for the company. Finally, Morgan Stanley began coverage on shares of Weibo in a research report on Friday, January 5th. They issued an “overweight” rating and a $130.00 price target for the company. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $124.50.
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Weibo Company Profile
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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