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.
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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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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