Allspring Global Investments Holdings LLC Sells 96,188 Shares of Weibo Co. (NASDAQ:WB)

Allspring Global Investments Holdings LLC reduced its holdings in shares of Weibo Co. (NASDAQ:WB) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,397,339 shares of the information services provider’s stock after selling 96,188 shares during the period. Allspring Global Investments Holdings LLC owned about 1.88% of Weibo worth $48,151,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisor Group Holdings Inc. lifted its holdings in shares of Weibo by 88.9% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,383 shares of the information services provider’s stock worth $35,000 after acquiring an additional 651 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Weibo during the 2nd quarter worth approximately $50,000. Osaic Holdings Inc. increased its stake in Weibo by 16.8% during the 2nd quarter. Osaic Holdings Inc. now owns 7,113 shares of the information services provider’s stock valued at $87,000 after purchasing an additional 1,022 shares in the last quarter. Profund Advisors LLC acquired a new position in Weibo during the 3rd quarter valued at approximately $133,000. Finally, US Bancorp DE increased its stake in Weibo by 124.7% during the 1st quarter. US Bancorp DE now owns 5,512 shares of the information services provider’s stock valued at $135,000 after purchasing an additional 3,059 shares in the last quarter. 68.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on WB shares. StockNews.com downgraded shares of Weibo from a “buy” rating to a “hold” rating in a report on Friday, January 19th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $10.60 target price on shares of Weibo in a research report on Thursday, March 28th. HSBC cut their price objective on shares of Weibo from $13.60 to $9.80 and set a “hold” rating for the company in a research report on Friday, March 15th. Bank of America lowered shares of Weibo from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $19.50 to $10.00 in a research note on Thursday, January 11th. Finally, UBS Group raised shares of Weibo from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $12.90 to $11.50 in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $11.98.

Weibo Price Performance

Weibo stock opened at $8.20 on Friday. The firm’s 50-day simple moving average is $9.11 and its 200 day simple moving average is $10.22. Weibo Co. has a 52 week low of $7.84 and a 52 week high of $18.10. The firm has a market capitalization of $1.92 billion, a PE ratio of 5.77, a P/E/G ratio of 1.36 and a beta of 0.44. The company has a quick ratio of 2.38, a current ratio of 2.51 and a debt-to-equity ratio of 0.54.

Weibo (NASDAQ:WB) last posted its quarterly earnings data on Thursday, March 14th. The information services provider reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.14). Weibo had a net margin of 19.47% and a return on equity of 10.77%. The company had revenue of $463.67 million for the quarter, compared to analyst estimates of $452.30 million. On average, equities research analysts predict that Weibo Co. will post 1.64 EPS for the current fiscal year.

Weibo Cuts Dividend

The firm also recently announced a — dividend, which will be paid on Monday, May 13th. Investors of record on Friday, April 12th will be given a dividend of $0.80 per share. The ex-dividend date is Thursday, April 11th.

Weibo Company Profile

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover 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.