First Trust Advisors LP cut its holdings in Sina Corporation (NASDAQ:SINA) by 65.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,328 shares of the technology company’s stock after selling 35,327 shares during the period. First Trust Advisors LP’s holdings in Sina Corporation were worth $1,557,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. BlackRock Inc. raised its stake in Sina Corporation by 1,354.9% in the first quarter. BlackRock Inc. now owns 2,502,738 shares of the technology company’s stock valued at $180,498,000 after buying an additional 2,702,176 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in Sina Corporation by 1.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 91,525 shares of the technology company’s stock valued at $6,601,000 after buying an additional 972 shares in the last quarter. KBC Group NV raised its stake in Sina Corporation by 4,661.2% in the first quarter. KBC Group NV now owns 73,418 shares of the technology company’s stock valued at $5,295,000 after buying an additional 71,876 shares in the last quarter. Eqis Capital Management Inc. raised its stake in Sina Corporation by 25.0% in the second quarter. Eqis Capital Management Inc. now owns 11,114 shares of the technology company’s stock valued at $944,000 after buying an additional 2,221 shares in the last quarter. Finally, US Bancorp DE raised its stake in Sina Corporation by 55.1% in the second quarter. US Bancorp DE now owns 1,501 shares of the technology company’s stock valued at $127,000 after buying an additional 533 shares in the last quarter. Institutional investors own 67.01% of the company’s stock.

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Sina Corporation (NASDAQ:SINA) opened at 116.33 on Friday. The firm’s 50 day moving average price is $102.40 and its 200 day moving average price is $87.36. Sina Corporation has a one year low of $60.46 and a one year high of $118.13. The stock has a market cap of $8.28 billion, a price-to-earnings ratio of 38.09 and a beta of 1.18.

Sina Corporation (NASDAQ:SINA) last issued its earnings results on Wednesday, August 9th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.27. The business had revenue of $358.93 million for the quarter, compared to analyst estimates of $344.23 million. Sina Corporation had a net margin of 18.64% and a return on equity of 6.58%. The company’s revenue for the quarter was up 47.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.27 EPS. Equities analysts forecast that Sina Corporation will post $2.92 earnings per share for the current year.

A number of analysts have weighed in on the company. Jefferies Group LLC restated a “buy” rating and issued a $122.00 price target on shares of Sina Corporation in a research note on Tuesday, May 30th. Citigroup Inc. raised their price target on Sina Corporation to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 10th. BidaskClub upgraded Sina Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. Zacks Investment Research lowered Sina Corporation from a “hold” rating to a “strong sell” rating in a report on Monday, August 14th. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $119.00 price objective (up previously from $112.00) on shares of Sina Corporation in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $101.74.

Sina Corporation Company Profile

Sina Corporation is an online media company serving China and the global Chinese communities. The Company’s digital media network of SINA.com (portal), SINA mobile (mobile portal and mobile applications) and Weibo (social media) enables Internet users to access professional media and user generated content (UGCs) in multi-media formats from personal computers and mobile devices, and share their interests with friends and acquaintances.

Institutional Ownership by Quarter for Sina Corporation (NASDAQ:SINA)

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