Macquarie Group Ltd. decreased its holdings in shares of Sina Corporation (NASDAQ:SINA) by 7.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 3,453,448 shares of the technology company’s stock after selling 260,693 shares during the period. Macquarie Group Ltd. owned approximately 4.85% of Sina Corporation worth $293,454,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. BlackRock Inc. raised its position in shares of Sina Corporation by 1,354.9% in the 1st quarter. BlackRock Inc. now owns 2,502,738 shares of the technology company’s stock valued at $180,498,000 after purchasing an additional 2,702,176 shares during the last quarter. US Bancorp DE boosted its stake in Sina Corporation by 55.1% in the 2nd quarter. US Bancorp DE now owns 1,501 shares of the technology company’s stock worth $127,000 after purchasing an additional 533 shares in the last quarter. Eqis Capital Management Inc. boosted its stake in Sina Corporation by 25.0% in the 2nd quarter. Eqis Capital Management Inc. now owns 11,114 shares of the technology company’s stock worth $944,000 after purchasing an additional 2,221 shares in the last quarter. Legal & General Group Plc boosted its stake in Sina Corporation by 2.8% in the 1st quarter. Legal & General Group Plc now owns 124,043 shares of the technology company’s stock worth $8,946,000 after purchasing an additional 3,400 shares in the last quarter. Finally, Essex Investment Management Co. LLC acquired a new stake in Sina Corporation in the 2nd quarter worth approximately $1,077,000. Institutional investors and hedge funds own 66.91% of the company’s stock.

Several analysts have weighed in on SINA shares. Jefferies Group LLC reissued a “buy” rating on shares of Sina Corporation in a research report on Friday, August 11th. Citigroup Inc. raised their price target on shares of Sina Corporation to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 10th. Bank of America Corporation reaffirmed a “buy” rating and issued a $119.00 price target (up previously from $112.00) on shares of Sina Corporation in a report on Thursday, August 10th. Zacks Investment Research downgraded shares of Sina Corporation from a “hold” rating to a “strong sell” rating in a research note on Monday, August 14th. Finally, BidaskClub upgraded shares of Sina Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $101.74.

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Sina Corporation (NASDAQ SINA) traded down 1.031% during midday trading on Wednesday, reaching $117.446. 378,629 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $108.70 and its 200-day moving average price is $91.51. The company has a market capitalization of $8.36 billion, a PE ratio of 38.456 and a beta of 1.16. Sina Corporation has a 1-year low of $60.46 and a 1-year high of $119.20.

Sina Corporation (NASDAQ:SINA) last announced its earnings results on Wednesday, August 9th. The technology company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.27. Sina Corporation had a net margin of 18.64% and a return on equity of 6.58%. The business had revenue of $358.93 million for the quarter, compared to analysts’ expectations of $344.23 million. During the same period in the previous year, the company posted $0.27 EPS. The company’s quarterly revenue was up 47.1% on a year-over-year basis. Equities analysts expect that Sina Corporation will post $2.95 EPS for the current year.

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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