Sumitomo Mitsui Asset Management Company LTD Sells 24,590 Shares of Weibo Corp (WB)
Sumitomo Mitsui Asset Management Company LTD reduced its position in Weibo Corp (NASDAQ:WB) by 69.1% during the fourth quarter, HoldingsChannel reports. The firm owned 11,002 shares of the information services provider’s stock after selling 24,590 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Weibo were worth $1,138,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. NEXT Financial Group Inc lifted its stake in Weibo by 9,900.0% during the 3rd quarter. NEXT Financial Group Inc now owns 1,000 shares of the information services provider’s stock valued at $100,000 after acquiring an additional 990 shares in the last quarter. YorkBridge Wealth Partners LLC bought a new position in Weibo during the 3rd quarter valued at $105,000. Risk Paradigm Group LLC bought a new position in Weibo during the 3rd quarter valued at $109,000. Castleark Management LLC bought a new position in Weibo during the 2nd quarter valued at $110,000. Finally, Ipswich Investment Management Co. Inc. bought a new position in Weibo during the 4th quarter valued at $208,000. Institutional investors own 22.08% of the company’s stock.
Several equities analysts have weighed in on the company. ValuEngine cut Weibo from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded Weibo from a “hold” rating to a “buy” rating and set a $118.00 target price on the stock in a research note on Tuesday, November 14th. UBS Group initiated coverage on Weibo in a research note on Tuesday, January 2nd. They set a “buy” rating and a $125.00 target price on the stock. Barclays lifted their target price on Weibo to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 10th. Finally, BidaskClub cut Weibo from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $104.85.
Weibo (NASDAQ:WB) last released its earnings results on Tuesday, November 7th. The information services provider reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.06. The company had revenue of $320.00 million for the quarter, compared to analysts’ expectations of $297.20 million. Weibo had a return on equity of 30.00% and a net margin of 26.85%. The business’s revenue for the quarter was up 80.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.24 EPS. equities analysts expect that Weibo Corp will post 1.51 EPS for the current year.
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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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