First Manhattan Co. acquired a new position in shares of Weibo Corporation (NASDAQ:WB) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 11,148 shares of the information services provider’s stock, valued at approximately $741,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of WB. Acadian Asset Management LLC increased its position in Weibo Corporation by 30.2% in the second quarter. Acadian Asset Management LLC now owns 1,707,419 shares of the information services provider’s stock worth $113,491,000 after buying an additional 396,281 shares in the last quarter. William Blair Investment Management LLC bought a new position in Weibo Corporation during the first quarter worth approximately $56,068,000. Macquarie Group Ltd. increased its position in Weibo Corporation by 55,465.9% in the first quarter. Macquarie Group Ltd. now owns 905,168 shares of the information services provider’s stock worth $47,233,000 after buying an additional 903,539 shares in the last quarter. State Street Corp increased its position in Weibo Corporation by 14.2% in the first quarter. State Street Corp now owns 513,031 shares of the information services provider’s stock worth $26,771,000 after buying an additional 63,983 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new position in Weibo Corporation during the first quarter worth approximately $26,341,000. 16.79% of the stock is owned by institutional investors.

Shares of Weibo Corporation (NASDAQ:WB) opened at 86.26 on Tuesday. Weibo Corporation has a 52-week low of $34.08 and a 52-week high of $86.88. The stock has a market capitalization of $17.88 billion, a P/E ratio of 131.09 and a beta of 2.66.

Weibo Corporation (NASDAQ:WB) last posted its quarterly earnings results on Tuesday, May 16th. The information services provider reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.05. Weibo Corporation had a return on equity of 20.00% and a net margin of 20.10%. The company had revenue of $199.20 million during the quarter, compared to the consensus estimate of $188.29 million. During the same period last year, the business earned $0.07 EPS. The business’s quarterly revenue was up 67.0% on a year-over-year basis. Equities research analysts expect that Weibo Corporation will post $1.50 EPS for the current fiscal year.

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A number of research analysts have recently commented on WB shares. Jefferies Group LLC reaffirmed a “buy” rating on shares of Weibo Corporation in a research note on Monday, June 26th. T.H. Capital reaffirmed a “buy” rating and set a $70.00 price objective (up previously from $60.00) on shares of Weibo Corporation in a research note on Tuesday, May 9th. Zacks Investment Research downgraded shares of Weibo Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. Vetr downgraded shares of Weibo Corporation from a “strong-buy” rating to a “buy” rating and set a $65.50 target price for the company. in a research report on Monday, May 8th. Finally, Benchmark Co. started coverage on shares of Weibo Corporation in a research report on Tuesday, April 18th. They set a “buy” rating and a $65.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Weibo Corporation presently has an average rating of “Buy” and a consensus price target of $66.95.

About Weibo Corporation

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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Institutional Ownership by Quarter for Weibo Corporation (NASDAQ:WB)

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