Greenwoods Asset Management Ltd raised its position in shares of Weibo Corporation (NASDAQ:WB) by 254.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 157,514 shares of the information services provider’s stock after buying an additional 113,114 shares during the quarter. Weibo Corporation comprises about 1.2% of Greenwoods Asset Management Ltd’s investment portfolio, making the stock its 11th largest holding. Greenwoods Asset Management Ltd owned approximately 0.08% of Weibo Corporation worth $10,470,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale purchased a new stake in shares of Weibo Corporation during the first quarter valued at about $324,000. Catamount Wealth Management purchased a new stake in shares of Weibo Corporation during the second quarter valued at about $113,000. Alta Advisers Ltd lifted its position in shares of Weibo Corporation by 5.0% during the first quarter. Alta Advisers Ltd now owns 2,100 shares of the information services provider’s stock valued at $110,000 after buying an additional 100 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Weibo Corporation during the first quarter valued at about $162,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Weibo Corporation by 41.7% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,400 shares of the information services provider’s stock valued at $226,000 after buying an additional 1,000 shares during the last quarter. 19.58% of the stock is owned by institutional investors and hedge funds.

Shares of Weibo Corporation (NASDAQ:WB) traded down 0.81% during trading on Friday, hitting $106.11. 2,066,282 shares of the company traded hands. The stock has a market capitalization of $22.00 billion, a PE ratio of 122.25 and a beta of 2.61. The company has a 50-day moving average of $92.81 and a 200-day moving average of $70.33. Weibo Corporation has a 52-week low of $40.12 and a 52-week high of $108.30.

Weibo Corporation (NASDAQ:WB) last issued its quarterly earnings data on Wednesday, August 9th. The information services provider reported $0.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.02. Weibo Corporation had a return on equity of 24.45% and a net margin of 23.22%. The company had revenue of $253.37 million during the quarter, compared to analysts’ expectations of $246.78 million. During the same quarter in the previous year, the business earned $0.16 earnings per share. The firm’s revenue for the quarter was up 72.5% on a year-over-year basis. Equities analysts expect that Weibo Corporation will post $1.63 EPS for the current year.

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Several research firms have commented on WB. Citigroup Inc. reissued a “buy” rating and set a $126.00 price target (up from $102.00) on shares of Weibo Corporation in a research report on Thursday. Jefferies Group LLC decreased their price target on shares of Weibo Corporation from $105.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, August 10th. Zacks Investment Research raised shares of Weibo Corporation from a “hold” rating to a “strong-buy” rating and set a $95.00 price target for the company in a research report on Tuesday, August 15th. Instinet reissued a “buy” rating and set a $102.00 price target (up from $91.00) on shares of Weibo Corporation in a research report on Friday, August 11th. Finally, Barclays PLC set a $100.00 price target on shares of Weibo Corporation and gave the company an “overweight” rating in a research report on Friday, August 11th. Nine analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Weibo Corporation presently has an average rating of “Buy” and a consensus target price of $85.28.

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

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