Weibo Corporation (WB) Shares Sold by Schroder Investment Management Group
Schroder Investment Management Group cut its holdings in shares of Weibo Corporation (NASDAQ:WB) by 16.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,754,973 shares of the information services provider’s stock after selling 348,774 shares during the period. Schroder Investment Management Group owned 0.85% of Weibo Corporation worth $118,338,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Acadian Asset Management LLC grew its position in shares of Weibo Corporation by 30.2% during 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 acquiring an additional 396,281 shares during the last quarter. William Blair Investment Management LLC purchased a new position in shares of Weibo Corporation during the first quarter worth approximately $56,068,000. Macquarie Group Ltd. grew its position in shares of Weibo Corporation by 55,465.9% during the first quarter. Macquarie Group Ltd. now owns 905,168 shares of the information services provider’s stock worth $47,233,000 after acquiring an additional 903,539 shares during the last quarter. State Street Corp grew its position in shares of Weibo Corporation by 14.2% during the first quarter. State Street Corp now owns 513,031 shares of the information services provider’s stock worth $26,771,000 after acquiring an additional 63,983 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new position in shares of Weibo Corporation during the first quarter worth approximately $26,341,000. Institutional investors and hedge funds own 19.58% of the company’s stock.
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Weibo Corporation (NASDAQ:WB) opened at 103.04 on Thursday. The stock has a market capitalization of $21.36 billion, a price-to-earnings ratio of 118.71 and a beta of 2.61. Weibo Corporation has a 52-week low of $40.12 and a 52-week high of $105.84. The company has a 50-day moving average of $86.55 and a 200-day moving average of $67.90.
Weibo Corporation (NASDAQ:WB) last issued its quarterly earnings data on Wednesday, August 9th. The information services provider reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.02. The business had revenue of $253.37 million for the quarter, compared to analyst estimates of $246.78 million. Weibo Corporation had a return on equity of 24.45% and a net margin of 23.22%. The firm’s revenue for the quarter was up 72.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.16 EPS. Equities research analysts expect that Weibo Corporation will post $1.63 EPS for the current year.
A number of equities analysts have recently issued reports on the stock. Jefferies Group LLC lowered their target price on shares of Weibo Corporation from $105.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, August 10th. Zacks Investment Research upgraded shares of Weibo Corporation from a “hold” rating to a “strong-buy” rating and set a $95.00 target price on the stock in a research report on Tuesday, August 15th. Instinet restated a “buy” rating and set a $102.00 target price (up from $91.00) on shares of Weibo Corporation in a research report on Friday, August 11th. Barclays PLC set a $100.00 target price on shares of Weibo Corporation and gave the stock an “overweight” rating in a research report on Friday, August 11th. Finally, BidaskClub upgraded shares of Weibo Corporation from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 16th. Eight research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Weibo Corporation has an average rating of “Buy” and an average target price of $80.19.
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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