Keybank National Association OH Takes Position in Weibo Co. (WB)

Keybank National Association OH acquired a new position in shares of Weibo Co. (NASDAQ:WB) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,502 shares of the information services provider’s stock, valued at approximately $1,138,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Harding Loevner LP grew its holdings in shares of Weibo by 23.7% during the second quarter. Harding Loevner LP now owns 3,505,901 shares of the information services provider’s stock worth $233,037,000 after purchasing an additional 672,381 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Weibo by 30.2% during the second quarter. Acadian Asset Management LLC now owns 1,707,419 shares of the information services provider’s stock worth $113,491,000 after purchasing an additional 396,281 shares in the last quarter. Macquarie Group Ltd. grew its holdings in shares of Weibo by 36.9% during the second quarter. Macquarie Group Ltd. now owns 1,239,263 shares of the information services provider’s stock worth $82,378,000 after purchasing an additional 334,095 shares in the last quarter. BT Investment Management Ltd grew its holdings in shares of Weibo by 6.6% during the third quarter. BT Investment Management Ltd now owns 1,022,828 shares of the information services provider’s stock worth $101,199,000 after purchasing an additional 63,761 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Weibo by 7.5% during the second quarter. State Street Corp now owns 551,325 shares of the information services provider’s stock worth $36,645,000 after purchasing an additional 38,294 shares in the last quarter. 19.54% of the stock is owned by institutional investors.

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Shares of Weibo Co. (NASDAQ WB) opened at $108.58 on Tuesday. The firm has a market capitalization of $23,263.18, a P/E ratio of 89.12 and a beta of 2.50. Weibo Co. has a 52 week low of $40.12 and a 52 week high of $110.48.

Weibo (NASDAQ:WB) last released its quarterly earnings data on Tuesday, November 7th. The information services provider reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. The firm had revenue of $320.00 million during the quarter, compared to analyst estimates of $297.20 million. Weibo had a return on equity of 41.72% and a net margin of 31.46%. The business’s quarterly revenue was up 80.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.24 earnings per share. analysts anticipate that Weibo Co. will post 1.49 earnings per share for the current fiscal year.

Several analysts have issued reports on WB shares. Jefferies Group LLC cut their target price on Weibo from $105.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, August 10th. Instinet reaffirmed a “buy” rating and issued a $102.00 target price (up previously from $91.00) on shares of Weibo in a research note on Friday, August 11th. BidaskClub raised Weibo from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Benchmark Co. cut their target price on Weibo from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Wednesday, November 8th. Finally, Zacks Investment Research raised Weibo from a “hold” rating to a “strong-buy” rating and set a $95.00 target price for the company in a research note on Tuesday, August 15th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $88.61.

About Weibo

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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Institutional Ownership by Quarter for Weibo (NASDAQ:WB)

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