Weibo Corporation (WB) Shares Sold by Gilder Gagnon Howe & Co. LLC
Gilder Gagnon Howe & Co. LLC cut its position in Weibo Corporation (NASDAQ:WB) by 54.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 32,016 shares of the information services provider’s stock after selling 38,709 shares during the period. Gilder Gagnon Howe & Co. LLC’s holdings in Weibo Corporation were worth $2,128,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in the company. William Blair Investment Management LLC acquired a new position in shares of Weibo Corporation during the first quarter worth $56,068,000. Macquarie Group Ltd. boosted its stake 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 during the period. Principal Financial Group Inc. bought a new stake in Weibo Corporation during the first quarter worth approximately $26,341,000. Acadian Asset Management LLC boosted its stake 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 during the period. Finally, Harvest Fund Management Co. Ltd boosted its stake in Weibo Corporation by 157.3% in the first quarter. Harvest Fund Management Co. Ltd now owns 401,489 shares of the information services provider’s stock worth $20,950,000 after buying an additional 245,467 shares during the period. Hedge funds and other institutional investors own 16.79% of the company’s stock.
Shares of Weibo Corporation (NASDAQ WB) opened at 87.23 on Thursday. Weibo Corporation has a 12-month low of $40.12 and a 12-month high of $88.88. The company has a 50 day moving average of $74.09 and a 200-day moving average of $61.93. The company has a market cap of $18.08 billion, a PE ratio of 132.57 and a beta of 2.66.
Weibo Corporation (NASDAQ:WB) last announced its quarterly earnings results on Wednesday, August 9th. The information services provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $253.37 million for the quarter, compared to the consensus estimate of $246.78 million. Weibo Corporation had a net margin of 20.10% and a return on equity of 20.00%. Weibo Corporation’s revenue for the quarter was up 72.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.16 EPS. Equities research analysts anticipate that Weibo Corporation will post $1.50 earnings per share for the current year.
ILLEGAL ACTIVITY WARNING: “Weibo Corporation (WB) Shares Sold by Gilder Gagnon Howe & Co. LLC” was published by Daily Political and is the sole property of of Daily Political. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States & international copyright and trademark law. The correct version of this piece can be viewed at https://www.dailypolitical.com/2017/08/10/weibo-corporation-wb-shares-sold-by-gilder-gagnon-howe-co-llc.html.
WB has been the topic of a number of research reports. Zacks Investment Research cut shares of Weibo Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, May 3rd. T.H. Capital reaffirmed a “buy” rating and issued a $70.00 price target (up previously from $60.00) on shares of Weibo Corporation in a report on Tuesday, May 9th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $82.00 price target on shares of Weibo Corporation in a report on Thursday, July 27th. TheStreet raised shares of Weibo Corporation from a “c” rating to a “b-” rating in a report on Monday, April 17th. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $85.00 price target (up previously from $66.00) on shares of Weibo Corporation in a report on Wednesday, May 17th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus 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.
Want to see what other hedge funds are holding WB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Weibo Corporation (NASDAQ:WB).
Receive News & Ratings for Weibo Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Weibo Corporation and related companies with MarketBeat.com's FREE daily email newsletter.