Holderness Investments Co. purchased a new position in shares of Weibo Corporation (NASDAQ:WB) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,350 shares of the information services provider’s stock, valued at approximately $233,000.

Several other hedge funds also recently modified their holdings of WB. BT Investment Management Ltd bought a new position in shares of Weibo Corporation during the second quarter worth about $63,749,000. Harding Loevner LP lifted its holdings in Weibo Corporation by 23.7% in the second quarter. Harding Loevner LP now owns 3,505,901 shares of the information services provider’s stock worth $233,037,000 after acquiring an additional 672,381 shares during the last quarter. Platinum Investment Management Ltd. bought a new position in Weibo Corporation in the second quarter worth about $27,010,000. Acadian Asset Management LLC lifted its holdings in Weibo Corporation by 30.2% in the second quarter. Acadian Asset Management LLC now owns 1,707,419 shares of the information services provider’s stock worth $113,491,000 after acquiring an additional 396,281 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in Weibo Corporation by 36.9% in the second quarter. Macquarie Group Ltd. now owns 1,239,263 shares of the information services provider’s stock worth $82,378,000 after acquiring an additional 334,095 shares during the last quarter. 19.89% of the stock is currently owned by institutional investors and hedge funds.

Shares of Weibo Corporation (NASDAQ WB) traded down $2.09 during trading hours on Thursday, hitting $117.45. 1,762,600 shares of the company’s stock traded hands, compared to its average volume of 2,034,251. Weibo Corporation has a 12 month low of $40.12 and a 12 month high of $123.00. The firm has a market capitalization of $26,444.28, a price-to-earnings ratio of 101.31 and a beta of 2.50.

Weibo Corporation (NASDAQ:WB) last announced its quarterly earnings results on Tuesday, November 7th. The information services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.45 by $0.06. Weibo Corporation had a net margin of 26.85% and a return on equity of 30.00%. The company had revenue of $320.00 million for the quarter, compared to analyst estimates of $297.20 million. During the same quarter last year, the business earned $0.24 earnings per share. Weibo Corporation’s revenue was up 80.9% compared to the same quarter last year. analysts anticipate that Weibo Corporation will post 1.49 EPS for the current fiscal year.

WB has been the topic of a number of recent research reports. BidaskClub cut shares of Weibo Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 7th. Citigroup Inc. reissued a “buy” rating and issued a $126.00 target price (up previously from $102.00) on shares of Weibo Corporation in a report on Thursday, September 14th. Jefferies Group LLC cut their target price on shares of Weibo Corporation from $105.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, August 10th. Instinet reissued a “buy” rating and issued a $102.00 target price (up previously from $91.00) on shares of Weibo Corporation in a report on Friday, August 11th. Finally, Zacks Investment Research raised shares of Weibo Corporation from a “hold” rating to a “buy” rating and set a $118.00 target price on the stock in a report on Tuesday, November 14th. Ten research analysts have rated the stock with a buy rating, Weibo Corporation has a consensus rating of “Buy” and an average price target of $93.39.

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Weibo Corporation Company Profile

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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