The Manufacturers Life Insurance Company raised its stake in Weibo Corporation (NASDAQ:WB) by 18.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,762 shares of the information services provider’s stock after acquiring an additional 27,709 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Weibo Corporation were worth $12,081,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Weibo Corporation by 40.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,645 shares of the information services provider’s stock valued at $708,000 after acquiring an additional 3,045 shares in the last quarter. Lockheed Martin Investment Management Co. acquired a new position in Weibo Corporation in the 2nd quarter valued at $757,000. First Manhattan Co. acquired a new position in Weibo Corporation in the 2nd quarter valued at $741,000. Nicholas Investment Partners LP acquired a new position in Weibo Corporation in the 2nd quarter valued at $3,222,000. Finally, BT Investment Management Ltd acquired a new position in Weibo Corporation in the 2nd quarter valued at $63,749,000. 19.56% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have weighed in on WB shares. BidaskClub cut Weibo Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, June 30th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Weibo Corporation in a report on Monday, June 26th. Instinet reaffirmed a “buy” rating and issued a $102.00 price objective (up from $91.00) on shares of Weibo Corporation in a report on Friday, August 11th. Citigroup Inc. reaffirmed a “buy” rating and issued a $126.00 price objective (up from $102.00) on shares of Weibo Corporation in a report on Thursday, September 14th. Finally, Zacks Investment Research cut Weibo Corporation from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 12th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $85.28.

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Weibo Corporation (WB) opened at 95.48 on Friday. The firm has a market cap of $19.79 billion, a PE ratio of 110.00 and a beta of 2.57. Weibo Corporation has a 12-month low of $40.12 and a 12-month high of $108.30. The stock’s 50 day moving average price is $101.42 and its 200-day moving average price is $79.17.

Weibo Corporation (NASDAQ:WB) last issued its quarterly earnings data on Wednesday, August 9th. The information services provider reported $0.38 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $246.78 million. During the same quarter last year, the business posted $0.16 earnings per share. The firm’s revenue was up 72.5% compared to the same quarter last year. Equities research analysts anticipate that Weibo Corporation will post $1.64 earnings per share for the current fiscal year.

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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