Balyasny Asset Management LLC lessened its holdings in Weibo Corporation (NASDAQ:WB) by 1.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 101,750 shares of the information services provider’s stock after selling 1,250 shares during the quarter. Balyasny Asset Management LLC’s holdings in Weibo Corporation were worth $6,763,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Catamount Wealth Management purchased a new stake in Weibo Corporation in the 2nd quarter worth approximately $113,000. DekaBank Deutsche Girozentrale boosted its position in Weibo Corporation by 301.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 3,006 shares of the information services provider’s stock worth $626,000 after purchasing an additional 2,257 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Weibo Corporation in the 1st quarter worth approximately $162,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Weibo Corporation by 41.7% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,400 shares of the information services provider’s stock worth $226,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Conning Inc. purchased a new stake in Weibo Corporation in the 2nd quarter worth approximately $242,000. Institutional investors own 19.56% of the company’s stock.

Weibo Corporation (NASDAQ WB) opened at 100.40 on Friday. Weibo Corporation has a 12 month low of $40.12 and a 12 month high of $108.30.

Weibo Corporation (NASDAQ:WB) last announced its quarterly earnings data on Wednesday, August 9th. The information services provider reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.02. Weibo Corporation had a return on equity of 24.45% and a net margin of 23.22%. The firm had revenue of $253.37 million for the quarter, compared to analyst estimates of $246.78 million. During the same quarter in the prior year, the company posted $0.16 earnings per share. Weibo Corporation’s quarterly revenue was up 72.5% on a year-over-year basis. On average, equities analysts anticipate that Weibo Corporation will post $1.64 earnings per share for the current fiscal year.

Several equities research analysts have commented on the company. Instinet restated a “buy” rating and issued a $102.00 price objective (up previously from $91.00) on shares of Weibo Corporation in a research report on Friday, August 11th. Jefferies Group LLC lowered their price objective on Weibo Corporation from $105.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, August 10th. Zacks Investment Research upgraded Weibo Corporation from a “hold” rating to a “strong-buy” rating and set a $95.00 price objective on the stock in a research report on Tuesday, August 15th. BidaskClub lowered Weibo Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Barclays PLC set a $100.00 price objective on Weibo Corporation and gave the stock an “overweight” rating in a research report on Friday, August 11th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Weibo Corporation currently has a consensus rating of “Buy” and a consensus target price of $85.28.

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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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Institutional Ownership by Quarter for Weibo Corporation (NASDAQ:WB)

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