Weibo Corp (NASDAQ:WB) Shares Purchased by Hexavest Inc.

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Hexavest Inc. boosted its stake in Weibo Corp (NASDAQ:WB) by 5.3% in the 3rd quarter, Holdings Channel reports. The firm owned 29,634 shares of the information services provider’s stock after purchasing an additional 1,486 shares during the period. Hexavest Inc.’s holdings in Weibo were worth $1,326,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Invesco Ltd. increased its holdings in Weibo by 29.7% in the 2nd quarter. Invesco Ltd. now owns 4,591,978 shares of the information services provider’s stock valued at $199,981,000 after purchasing an additional 1,052,658 shares during the last quarter. Platinum Investment Management Ltd. boosted its position in Weibo by 11.9% in the 2nd quarter. Platinum Investment Management Ltd. now owns 3,096,729 shares of the information services provider’s stock valued at $134,863,000 after buying an additional 328,248 shares during the period. Wells Fargo & Company MN boosted its position in Weibo by 12.9% in the 2nd quarter. Wells Fargo & Company MN now owns 2,305,977 shares of the information services provider’s stock valued at $100,425,000 after buying an additional 262,741 shares during the period. Fiera Capital Corp boosted its position in Weibo by 2.7% in the 2nd quarter. Fiera Capital Corp now owns 954,214 shares of the information services provider’s stock valued at $41,556,000 after buying an additional 24,794 shares during the period. Finally, Macquarie Group Ltd. boosted its position in Weibo by 2.0% in the 2nd quarter. Macquarie Group Ltd. now owns 818,196 shares of the information services provider’s stock valued at $35,632,000 after buying an additional 16,128 shares during the period. Hedge funds and other institutional investors own 25.83% of the company’s stock.

Several equities analysts have commented on the stock. Barclays set a $55.00 price target on shares of Weibo and gave the company a “buy” rating in a research report on Wednesday, August 21st. BidaskClub cut shares of Weibo from a “buy” rating to a “hold” rating in a research report on Friday, September 20th. Credit Suisse Group raised shares of Weibo from a “neutral” rating to an “outperform” rating in a research report on Friday, October 4th. ValuEngine raised shares of Weibo from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Jefferies Financial Group assumed coverage on shares of Weibo in a research report on Monday, August 5th. They issued a “hold” rating and a $43.60 price target for the company. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. Weibo currently has a consensus rating of “Hold” and a consensus target price of $56.79.

Weibo stock opened at $48.52 on Friday. The stock has a market cap of $10.92 billion, a P/E ratio of 19.25 and a beta of 2.21. The company has a fifty day simple moving average of $45.67 and a 200-day simple moving average of $49.26. Weibo Corp has a 12-month low of $34.26 and a 12-month high of $74.68. The company has a current ratio of 3.58, a quick ratio of 3.58 and a debt-to-equity ratio of 0.44.

Weibo (NASDAQ:WB) last released its quarterly earnings data on Monday, August 19th. The information services provider reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.12. The business had revenue of $431.80 million during the quarter, compared to analysts’ expectations of $434.79 million. Weibo had a net margin of 33.01% and a return on equity of 32.08%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 EPS. As a group, sell-side analysts forecast that Weibo Corp will post 2.4 earnings per share for the current fiscal year.

Weibo Profile

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates in two segments, Advertising and Marketing Services, and Value-Added Services. The company offers self-expression products that enable its users to express themselves on its platform; social products to promote social interaction between users on its platform; and discovery products to help users discover content on its platform.

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Institutional Ownership by Quarter for Weibo (NASDAQ:WB)

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