Ameriprise Financial Inc. Purchases 22,144 Shares of Weibo Corporation (WB)
Ameriprise Financial Inc. boosted its position in Weibo Corporation (NASDAQ:WB) by 38.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 80,097 shares of the information services provider’s stock after purchasing an additional 22,144 shares during the quarter. Ameriprise Financial Inc.’s holdings in Weibo Corporation were worth $5,325,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Weibo Corporation by 40.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,645 shares of the information services provider’s stock valued at $708,000 after purchasing an additional 3,045 shares during the last quarter. Lockheed Martin Investment Management Co. bought a new stake in Weibo Corporation in the 2nd quarter valued at about $757,000. First Manhattan Co. bought a new stake in Weibo Corporation in the 2nd quarter valued at about $741,000. Vanguard Group Inc. lifted its position in Weibo Corporation by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 165,119 shares of the information services provider’s stock valued at $8,616,000 after purchasing an additional 4,195 shares during the last quarter. Finally, Crawford Lake Capital Management LLC bought a new stake in Weibo Corporation in the 2nd quarter valued at about $5,018,000. Hedge funds and other institutional investors own 19.56% of the company’s stock.
Shares of Weibo Corporation (WB) opened at 95.48 on Friday. Weibo Corporation has a 52-week low of $40.12 and a 52-week high of $108.30. The company has a market capitalization of $19.79 billion, a P/E ratio of 110.00 and a beta of 2.57. The firm’s 50 day moving average is $101.42 and its 200-day moving average is $79.17.
Weibo Corporation (NASDAQ:WB) last issued its quarterly earnings results on Wednesday, August 9th. The information services provider reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.02. The business had revenue of $253.37 million for the quarter, compared to the consensus estimate of $246.78 million. Weibo Corporation had a net margin of 23.22% and a return on equity of 24.45%. The firm’s quarterly revenue was up 72.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 EPS. Equities research analysts anticipate that Weibo Corporation will post $1.64 earnings per share for the current fiscal year.
Several brokerages recently weighed in on WB. Zacks Investment Research downgraded shares of Weibo Corporation from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 12th. BidaskClub downgraded shares of Weibo Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 7th. Citigroup Inc. restated a “buy” rating and set a $126.00 price target (up from $102.00) on shares of Weibo Corporation in a research report on Thursday, September 14th. Instinet restated a “buy” rating and set a $102.00 price target (up from $91.00) on shares of Weibo Corporation in a research report on Friday, August 11th. Finally, Barclays PLC set a $100.00 price target on shares of Weibo Corporation and gave the stock an “overweight” rating in a research report on Friday, August 11th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Weibo Corporation presently has a consensus rating of “Buy” and an average price target of $85.28.
About Weibo Corporation
Weibo Corporation is a social media platform for people to create, distribute and discover Chinese-language content. The Company provides ways for people and organizations to publicly express themselves in real time, interact with others on a global platform and stay connected with the world. It operates in two segments: advertising and marketing services and other services.
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