Korea Investment CORP Boosts Stake in Weibo Corp (WB)

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Korea Investment CORP lifted its position in shares of Weibo Corp (NASDAQ:WB) by 236.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 22,900 shares of the information services provider’s stock after acquiring an additional 16,100 shares during the quarter. Korea Investment CORP’s holdings in Weibo were worth $2,033,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of WB. Victory Capital Management Inc. boosted its stake in Weibo by 4.8% in the 1st quarter. Victory Capital Management Inc. now owns 48,423 shares of the information services provider’s stock worth $5,788,000 after purchasing an additional 2,201 shares during the period. Swiss National Bank raised its holdings in shares of Weibo by 7.5% in the 1st quarter. Swiss National Bank now owns 94,953 shares of the information services provider’s stock valued at $11,351,000 after acquiring an additional 6,600 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Weibo by 124.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 26,549 shares of the information services provider’s stock valued at $3,174,000 after acquiring an additional 14,712 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in shares of Weibo by 172.4% in the 1st quarter. Neuberger Berman Group LLC now owns 55,047 shares of the information services provider’s stock valued at $6,581,000 after acquiring an additional 34,840 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its holdings in shares of Weibo by 133.2% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 34,313 shares of the information services provider’s stock valued at $4,102,000 after acquiring an additional 19,600 shares in the last quarter. Institutional investors own 27.50% of the company’s stock.

WB has been the topic of several recent analyst reports. Jefferies Financial Group lowered their price target on Weibo from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, August 9th. BidaskClub cut Weibo from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 20th. Barclays reaffirmed a “buy” rating and issued a $130.00 price target (down previously from $150.00) on shares of Weibo in a report on Sunday, July 29th. Zacks Investment Research cut Weibo from a “buy” rating to a “hold” rating in a report on Sunday, July 15th. Finally, ValuEngine cut Weibo from a “buy” rating to a “hold” rating in a report on Thursday, June 21st. Two analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $131.71.

NASDAQ:WB opened at $72.86 on Friday. Weibo Corp has a twelve month low of $66.68 and a twelve month high of $142.12. The stock has a market capitalization of $15.33 billion, a price-to-earnings ratio of 46.71 and a beta of 2.32. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.97 and a current ratio of 3.97.

Weibo (NASDAQ:WB) last released its quarterly earnings results on Wednesday, August 8th. The information services provider reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.02. The firm had revenue of $426.60 million for the quarter, compared to analysts’ expectations of $426.54 million. Weibo had a return on equity of 37.75% and a net margin of 32.03%. The company’s revenue was up 68.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.38 EPS. research analysts expect that Weibo Corp will post 2.54 earnings per share for the current fiscal year.

Weibo Company Profile

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

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Institutional Ownership by Quarter for Weibo (NASDAQ:WB)

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