Profund Advisors LLC trimmed its stake in shares of Weibo Corp (NASDAQ:WB) by 26.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,869 shares of the information services provider’s stock after selling 4,618 shares during the period. Profund Advisors LLC’s holdings in Weibo were worth $560,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in Weibo by 5.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 210,900 shares of the information services provider’s stock worth $12,338,000 after acquiring an additional 10,233 shares in the last quarter. Cornerstone Advisors Inc. purchased a new stake in Weibo in the 1st quarter worth about $35,000. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Weibo by 0.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 167,656 shares of the information services provider’s stock worth $10,393,000 after acquiring an additional 500 shares in the last quarter. New York State Common Retirement Fund purchased a new stake in Weibo in the 1st quarter worth about $5,426,000. Finally, Great West Life Assurance Co. Can lifted its stake in Weibo by 8.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 36,272 shares of the information services provider’s stock worth $2,244,000 after acquiring an additional 2,700 shares in the last quarter. 25.85% of the stock is owned by institutional investors and hedge funds.
Several research analysts have weighed in on the company. TheStreet lowered Weibo from a “b-” rating to a “c+” rating in a research report on Friday, May 31st. ValuEngine raised Weibo from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 20th. Benchmark reaffirmed a “buy” rating and issued a $51.00 target price (down from $81.00) on shares of Weibo in a research report on Friday, May 24th. Zacks Investment Research raised Weibo from a “strong sell” rating to a “hold” rating in a research report on Friday, August 30th. Finally, HSBC lowered Weibo from a “hold” rating to a “reduce” rating and set a $45.54 target price on the stock. in a research report on Friday, May 24th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $56.79.
Weibo (NASDAQ:WB) last posted its earnings results on Monday, August 19th. The information services provider reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.12. Weibo had a return on equity of 32.08% and a net margin of 33.01%. The business had revenue of $431.80 million during the quarter, compared to the consensus estimate of $434.79 million. During the same quarter last year, the company earned $0.68 EPS. Weibo’s revenue was up 1.2% on a year-over-year basis. Equities research analysts expect that Weibo Corp will post 2.4 earnings per share for the current year.
Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates in 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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