SINA Corp (SINA) Shares Bought by Wells Fargo & Company MN
Wells Fargo & Company MN grew its position in shares of SINA Corp (NASDAQ:SINA) by 1.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,382,628 shares of the technology company’s stock after acquiring an additional 38,673 shares during the quarter. Wells Fargo & Company MN’s holdings in SINA were worth $165,546,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its holdings in shares of SINA by 25.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 27,098 shares of the technology company’s stock valued at $2,826,000 after purchasing an additional 5,467 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of SINA by 44.0% during the 1st quarter. Royal Bank of Canada now owns 9,245 shares of the technology company’s stock valued at $965,000 after purchasing an additional 2,826 shares during the last quarter. Xact Kapitalforvaltning AB grew its holdings in shares of SINA by 22.7% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 8,100 shares of the technology company’s stock valued at $686,000 after purchasing an additional 1,500 shares during the last quarter. Daiwa SB Investments Ltd. bought a new position in shares of SINA during the 2nd quarter valued at $1,304,000. Finally, Bank of Montreal Can bought a new position in shares of SINA during the 2nd quarter valued at $406,000. Institutional investors own 67.03% of the company’s stock.
SINA has been the topic of several recent research reports. BidaskClub lowered shares of SINA from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 9th. Jefferies Financial Group reaffirmed a “buy” rating and set a $144.00 target price on shares of SINA in a report on Thursday, July 26th. Zacks Investment Research raised shares of SINA from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a report on Monday, July 30th. JPMorgan Chase & Co. initiated coverage on shares of SINA in a report on Wednesday, August 29th. They set an “overweight” rating and a $150.00 target price on the stock. Finally, ValuEngine lowered shares of SINA from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 7th. Three analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $122.40.
SINA (NASDAQ:SINA) last announced its quarterly earnings results on Wednesday, August 8th. The technology company reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.39. The business had revenue of $537.36 million during the quarter, compared to analysts’ expectations of $538.10 million. SINA had a net margin of 8.23% and a return on equity of 4.39%. The firm’s revenue for the quarter was up 49.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.70 EPS. Research analysts expect that SINA Corp will post 2.26 earnings per share for the current year.
SINA Company Profile
SINA Corporation, through its subsidiaries, operates as an online media company in the People's Republic of China. It operates SINA.com, an online brand advertising portal that provides region-focused format and content, including multimedia news; business news coverage and personal finance columns; sporting events news; automobile-related news; entertainment news and events; technology updates; interactive video products, such as news, sports, and entertainment; and education, digital, fashion, luxury, health, collectibles, travel, and other interest-based channels.
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