Korea Investment CORP raised its position in shares of Sina Corporation (NASDAQ:SINA) by 11.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,700 shares of the technology company’s stock after buying an additional 7,300 shares during the period. Korea Investment CORP’s holdings in Sina Corporation were worth $5,837,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Airain ltd increased its stake in Sina Corporation by 99.2% in the first quarter. Airain ltd now owns 72,575 shares of the technology company’s stock worth $5,234,000 after buying an additional 36,142 shares in the last quarter. First Trust Advisors LP increased its stake in Sina Corporation by 40.5% in the first quarter. First Trust Advisors LP now owns 53,655 shares of the technology company’s stock worth $3,870,000 after buying an additional 15,463 shares in the last quarter. BlackRock Inc. increased its stake in Sina Corporation by 1,354.9% in the first quarter. BlackRock Inc. now owns 2,502,738 shares of the technology company’s stock worth $180,498,000 after buying an additional 2,702,176 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in Sina Corporation by 1.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 91,525 shares of the technology company’s stock worth $6,601,000 after buying an additional 972 shares in the last quarter. Finally, KBC Group NV increased its stake in Sina Corporation by 4,661.2% in the first quarter. KBC Group NV now owns 73,418 shares of the technology company’s stock worth $5,295,000 after buying an additional 71,876 shares in the last quarter. Institutional investors own 66.43% of the company’s stock.

Shares of Sina Corporation (SINA) opened at 95.29 on Friday. Sina Corporation has a 52 week low of $60.46 and a 52 week high of $105.99. The stock has a 50 day moving average price of $91.83 and a 200-day moving average price of $81.82. The firm has a market capitalization of $6.78 billion, a PE ratio of 31.20 and a beta of 1.24.

Sina Corporation (NASDAQ:SINA) last announced its earnings results on Wednesday, August 9th. The technology company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.27. The company had revenue of $358.93 million during the quarter, compared to the consensus estimate of $344.23 million. Sina Corporation had a return on equity of 6.65% and a net margin of 18.64%. The company’s revenue was up 47.1% on a year-over-year basis. During the same period last year, the firm earned $0.27 earnings per share. Equities analysts anticipate that Sina Corporation will post $2.78 earnings per share for the current year.

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SINA has been the topic of a number of research analyst reports. T.H. Capital lifted their target price on Sina Corporation from $62.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, May 12th. Jefferies Group LLC restated a “buy” rating and issued a $122.00 target price on shares of Sina Corporation in a research report on Friday, July 14th. BidaskClub downgraded Sina Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Benchmark Co. initiated coverage on Sina Corporation in a research report on Tuesday, April 18th. They issued a “buy” rating and a $110.00 target price on the stock. Finally, Stifel Nicolaus restated a “hold” rating on shares of Sina Corporation in a research report on Friday, June 23rd. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Sina Corporation presently has an average rating of “Buy” and an average price target of $101.74.

About Sina Corporation

Sina Corporation is an online media company serving China and the global Chinese communities. The Company’s digital media network of SINA.com (portal), SINA mobile (mobile portal and mobile applications) and Weibo (social media) enables Internet users to access professional media and user generated content (UGCs) in multi-media formats from personal computers and mobile devices, and share their interests with friends and acquaintances.

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Institutional Ownership by Quarter for Sina Corporation (NASDAQ:SINA)

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