Raymond James & Associates Has $800,000 Holdings in Weibo Corp (WB)

Raymond James & Associates trimmed its stake in Weibo Corp (NASDAQ:WB) by 47.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,690 shares of the information services provider’s stock after selling 12,349 shares during the quarter. Raymond James & Associates’ holdings in Weibo were worth $800,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WB. Fisher Asset Management LLC bought a new position in shares of Weibo in the 4th quarter worth $161,521,000. Genesis Asset Managers LLP purchased a new stake in shares of Weibo in the 4th quarter worth about $104,219,000. Platinum Investment Management Ltd. lifted its position in shares of Weibo by 1,700.5% in the 3rd quarter. Platinum Investment Management Ltd. now owns 1,402,555 shares of the information services provider’s stock worth $102,569,000 after purchasing an additional 1,324,655 shares during the period. Vanguard Group Inc lifted its position in shares of Weibo by 37.4% in the 3rd quarter. Vanguard Group Inc now owns 1,755,252 shares of the information services provider’s stock worth $128,361,000 after purchasing an additional 477,814 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Weibo by 37.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,755,252 shares of the information services provider’s stock worth $128,361,000 after purchasing an additional 477,814 shares during the period. Hedge funds and other institutional investors own 24.60% of the company’s stock.

Shares of NASDAQ:WB opened at $67.74 on Friday. The company has a current ratio of 3.92, a quick ratio of 3.99 and a debt-to-equity ratio of 0.51. Weibo Corp has a 1-year low of $51.15 and a 1-year high of $128.17. The company has a market cap of $16.03 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 1.17 and a beta of 2.02.

Weibo (NASDAQ:WB) last released its earnings results on Tuesday, March 5th. The information services provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.75 by $0.05. Weibo had a net margin of 33.27% and a return on equity of 37.53%. The firm had revenue of $481.88 million for the quarter, compared to the consensus estimate of $481.52 million. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The company’s quarterly revenue was up 27.7% compared to the same quarter last year. On average, equities research analysts predict that Weibo Corp will post 2.93 EPS for the current fiscal year.

WB has been the subject of a number of analyst reports. Credit Suisse Group restated a “buy” rating and set a $72.00 price objective on shares of Weibo in a research note on Thursday, February 14th. BidaskClub upgraded shares of Weibo from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Barclays reiterated a “buy” rating and issued a $75.00 price target on shares of Weibo in a research note on Monday, March 11th. Morgan Stanley lowered shares of Weibo from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, January 8th. Finally, ValuEngine raised shares of Weibo from a “sell” rating to a “hold” rating in a report on Monday, February 4th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $76.00.

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About Weibo

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates through two segments, Advertising and Marketing Services, and Value-Added Services. The company offers self-expression products that enable its users to express themselves on its platform; social products to promote social interaction between users on its platform; and discovery products to help users discover content on its platform.

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Institutional Ownership by Quarter for Weibo (NASDAQ:WB)

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