Virginia Retirement Systems ET AL Takes Position in Weibo Corporation (WB)

Virginia Retirement Systems ET AL acquired a new stake in Weibo Corporation (NASDAQ:WB) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,500 shares of the information services provider’s stock, valued at approximately $247,000.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Weibo by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 165,119 shares of the information services provider’s stock worth $8,616,000 after buying an additional 4,195 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Weibo by 20.3% during the 1st quarter. Geode Capital Management LLC now owns 70,163 shares of the information services provider’s stock worth $3,650,000 after buying an additional 11,825 shares in the last quarter. State of New Jersey Common Pension Fund D grew its position in shares of Weibo by 213.8% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 33,332 shares of the information services provider’s stock worth $2,216,000 after buying an additional 22,710 shares in the last quarter. Korea Investment CORP grew its position in shares of Weibo by 6,135.0% during the 2nd quarter. Korea Investment CORP now owns 12,470 shares of the information services provider’s stock worth $829,000 after buying an additional 12,270 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of Weibo by 41.7% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,400 shares of the information services provider’s stock worth $226,000 after buying an additional 1,000 shares in the last quarter. 21.98% of the stock is currently owned by institutional investors.

Shares of Weibo Corporation (NASDAQ:WB) opened at $103.53 on Thursday. Weibo Corporation has a 12-month low of $40.12 and a 12-month high of $123.00. The firm has a market capitalization of $22,640.00, a PE ratio of 88.14 and a beta of 2.52.

Weibo (NASDAQ:WB) last issued 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. Weibo had a return on equity of 30.00% and a net margin of 26.85%. The company had revenue of $320.00 million for the quarter, compared to the consensus estimate of $297.20 million. During the same quarter last year, the company earned $0.24 earnings per share. The firm’s revenue for the quarter was up 80.9% compared to the same quarter last year. equities analysts predict that Weibo Corporation will post 1.5 earnings per share for the current fiscal year.

A number of research firms have recently issued reports on WB. ValuEngine downgraded Weibo from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Zacks Investment Research raised Weibo from a “hold” rating to a “buy” rating and set a $118.00 price target on the stock in a research report on Tuesday, November 14th. BidaskClub downgraded Weibo from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 7th. Citigroup reaffirmed a “buy” rating and set a $126.00 price objective (up previously from $102.00) on shares of Weibo in a research report on Thursday, September 14th. Finally, Barclays raised their price objective on Weibo from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $97.31.

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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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