Morgan Stanley cut its position in shares of 58.com Inc (NYSE:WUBA) by 23.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 452,505 shares of the information services provider’s stock after selling 141,285 shares during the quarter. Morgan Stanley owned approximately 0.30% of 58.com worth $22,045,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WUBA. AE Wealth Management LLC bought a new stake in 58.com in the first quarter worth $368,000. Bank of America Corp DE increased its holdings in shares of 58.com by 10.4% in the fourth quarter. Bank of America Corp DE now owns 281,828 shares of the information services provider’s stock worth $18,242,000 after buying an additional 26,456 shares during the period. AGF Investments Inc. bought a new stake in shares of 58.com in the 1st quarter valued at about $228,000. Nuveen Asset Management LLC boosted its holdings in 58.com by 4.2% during the 1st quarter. Nuveen Asset Management LLC now owns 127,987 shares of the information services provider’s stock valued at $6,235,000 after acquiring an additional 5,200 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in 58.com by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 121,264 shares of the information services provider’s stock valued at $7,850,000 after acquiring an additional 1,400 shares during the period. 62.78% of the stock is currently owned by institutional investors.

58.com stock opened at $53.93 on Tuesday. 58.com Inc has a twelve month low of $37.92 and a twelve month high of $69.89. The company has a market capitalization of $8.02 billion, a P/E ratio of 6.14, a PEG ratio of 1.41 and a beta of 1.29. The stock’s 50 day moving average is $51.46 and its 200 day moving average is $55.74.

WUBA has been the subject of several analyst reports. New Street Research cut shares of 58.com from a “buy” rating to a “neutral” rating in a research report on Monday. Zacks Investment Research lowered shares of 58.com from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 18th. CICC Research cut 58.com from an “outperform” rating to a “neutral” rating in a research note on Friday, March 13th. ValuEngine lowered 58.com from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd. Finally, Bank of America cut their price objective on 58.com from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Thursday, March 12th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. 58.com presently has an average rating of “Hold” and an average target price of $62.07.

58.com Profile

58.com Inc operates various multi-category online classifieds platforms and vertical listing platforms that enable local businesses and consumers to connect, share information, and conduct business in the People's Republic of China. It operates multi-content category online classified platforms primarily under the 58 and Ganji names; Anjuke, an online real estate listing platform; ChinaHR, an online recruitment platform that focuses on white collar jobs; and Jia Xiao Yi Dian Tong, an online platform for driver's license examination preparation and other related services.

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Institutional Ownership by Quarter for 58.com (NYSE:WUBA)

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