Comerica Bank increased its stake in shares of Weibo Corp (NASDAQ:WB) by 26.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,105 shares of the information services provider’s stock after buying an additional 2,743 shares during the quarter. Comerica Bank’s holdings in Weibo were worth $1,685,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Harding Loevner LP lifted its position in Weibo by 2,621.2% during the third quarter. Harding Loevner LP now owns 95,403,043 shares of the information services provider’s stock valued at $476,760,000 after purchasing an additional 91,897,142 shares during the period. Schroder Investment Management Group lifted its position in Weibo by 31.1% during the third quarter. Schroder Investment Management Group now owns 2,300,656 shares of the information services provider’s stock valued at $225,672,000 after purchasing an additional 545,683 shares during the period. Acadian Asset Management LLC lifted its position in Weibo by 16.0% during the fourth quarter. Acadian Asset Management LLC now owns 1,994,583 shares of the information services provider’s stock valued at $206,361,000 after purchasing an additional 274,466 shares during the period. Neumann Advisory Hong Kong Ltd acquired a new position in Weibo during the fourth quarter valued at $24,831,000. Finally, New York State Common Retirement Fund acquired a new position in Weibo during the third quarter valued at $18,190,000. 22.67% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Weibo from a “buy” rating to a “hold” rating in a research report on Saturday, February 17th. BidaskClub upgraded shares of Weibo from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 16th. Barclays boosted their target price on shares of Weibo to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, January 10th. Benchmark upped their price objective on shares of Weibo from $110.00 to $148.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Weibo from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $117.41.
Weibo (NASDAQ:WB) last issued its quarterly earnings data on Tuesday, February 13th. The information services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. The business had revenue of $377.40 million during the quarter, compared to the consensus estimate of $362.04 million. Weibo had a net margin of 30.66% and a return on equity of 35.57%. The company’s revenue was up 77.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 earnings per share. sell-side analysts expect that Weibo Corp will post 2.57 EPS for the current year.
Weibo 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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