Bank of New York Mellon Corp lifted its position in shares of Weibo Corp (NASDAQ:WB) by 9.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 178,511 shares of the information services provider’s stock after purchasing an additional 15,915 shares during the period. Bank of New York Mellon Corp owned 0.08% of Weibo worth $17,661,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in WB. YorkBridge Wealth Partners LLC acquired a new position in Weibo in the 3rd quarter valued at about $105,000. Castleark Management LLC acquired a new position in Weibo in the 2nd quarter valued at about $110,000. Morse Asset Management Inc acquired a new position in Weibo in the 3rd quarter valued at about $228,000. Pitcairn Co. acquired a new position in Weibo in the 3rd quarter valued at about $235,000. Finally, DekaBank Deutsche Girozentrale grew its stake in Weibo by 301.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 3,006 shares of the information services provider’s stock valued at $626,000 after buying an additional 2,257 shares during the last quarter. Institutional investors own 21.98% of the company’s stock.
Shares of Weibo Corp (NASDAQ WB) opened at $102.72 on Monday. The stock has a market cap of $22,723.41, a PE ratio of 87.05 and a beta of 2.54. Weibo Corp has a twelve month low of $40.12 and a twelve month high of $123.00.
WB has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Weibo from a “hold” rating to a “buy” rating and set a $118.00 price target on the stock in a research note on Tuesday, November 14th. Benchmark decreased their price target on shares of Weibo from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Wednesday, November 8th. BidaskClub lowered shares of Weibo from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. Barclays upped their price target on shares of Weibo from $100.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, November 14th. Finally, Citigroup reiterated a “buy” rating and issued a $126.00 price target (up previously from $102.00) on shares of Weibo in a research note on Thursday, September 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $97.31.
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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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