Weibo Co. (NASDAQ:WB) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its position in shares of Weibo Co. (NASDAQ:WB) by 37.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,647,025 shares of the information services provider’s stock after selling 1,560,021 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Weibo were worth $26,682,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in Weibo during the second quarter worth about $1,398,000. Krane Funds Advisors LLC boosted its position in shares of Weibo by 17.4% in the second quarter. Krane Funds Advisors LLC now owns 3,803,752 shares of the information services provider’s stock worth $29,213,000 after buying an additional 564,068 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Weibo by 65.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 119,025 shares of the information services provider’s stock worth $1,082,000 after buying an additional 46,898 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Weibo by 64.1% in the second quarter. Canada Pension Plan Investment Board now owns 1,309,385 shares of the information services provider’s stock worth $10,056,000 after buying an additional 511,248 shares during the period. Finally, Lazard Asset Management LLC boosted its position in shares of Weibo by 9.9% in the first quarter. Lazard Asset Management LLC now owns 207,646 shares of the information services provider’s stock worth $1,887,000 after buying an additional 18,630 shares during the period. 68.77% of the stock is currently owned by institutional investors and hedge funds.

Weibo Trading Down 1.4 %

NASDAQ:WB opened at $9.11 on Thursday. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.55. The business’s 50 day moving average is $8.56 and its two-hundred day moving average is $8.45. Weibo Co. has a 52 week low of $7.03 and a 52 week high of $12.65. The company has a market cap of $2.13 billion, a PE ratio of 7.66, a P/E/G ratio of 1.53 and a beta of 0.23.

Weibo (NASDAQ:WB) last released its earnings results on Thursday, August 22nd. The information services provider reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.10. Weibo had a return on equity of 11.01% and a net margin of 18.52%. The company had revenue of $437.90 million for the quarter, compared to the consensus estimate of $437.97 million. During the same quarter last year, the business posted $0.42 EPS. Weibo’s quarterly revenue was down .5% compared to the same quarter last year. On average, analysts predict that Weibo Co. will post 1.48 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on WB shares. Citigroup increased their price target on Weibo from $11.00 to $12.00 and gave the company a “buy” rating in a report on Monday, September 30th. StockNews.com downgraded Weibo from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Morgan Stanley reduced their price target on Weibo from $8.00 to $7.50 and set an “underweight” rating for the company in a report on Friday, August 23rd. Finally, Nomura Securities raised Weibo to a “hold” rating in a report on Monday, August 26th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $10.23.

Weibo Company Profile

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