Weibo Corp (WB) Shares Bought by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Weibo Corp (NASDAQ:WB) by 2.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 137,954 shares of the information services provider’s stock after acquiring an additional 2,927 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.06% of Weibo worth $12,245,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in the company. Mariner LLC lifted its position in shares of Weibo by 18.4% in the first quarter. Mariner LLC now owns 3,281 shares of the information services provider’s stock valued at $393,000 after acquiring an additional 509 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Weibo by 11.1% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,111 shares of the information services provider’s stock valued at $611,000 after acquiring an additional 511 shares in the last quarter. Xact Kapitalforvaltning AB lifted its position in shares of Weibo by 8.2% in the first quarter. Xact Kapitalforvaltning AB now owns 7,943 shares of the information services provider’s stock valued at $950,000 after acquiring an additional 600 shares in the last quarter. BB&T Corp increased its holdings in shares of Weibo by 6.7% in the second quarter. BB&T Corp now owns 10,670 shares of the information services provider’s stock worth $947,000 after purchasing an additional 667 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Weibo by 10.2% in the first quarter. Commonwealth Equity Services LLC now owns 7,376 shares of the information services provider’s stock worth $881,000 after purchasing an additional 681 shares during the last quarter. Institutional investors and hedge funds own 23.78% of the company’s stock.

Shares of NASDAQ WB opened at $73.93 on Thursday. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.61. Weibo Corp has a 1-year low of $70.13 and a 1-year high of $142.12. The company has a market cap of $17.82 billion, a price-to-earnings ratio of 47.39 and a beta of 2.42.

Weibo (NASDAQ:WB) last issued its quarterly earnings data on Wednesday, August 8th. The information services provider reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.02. Weibo had a return on equity of 37.75% and a net margin of 32.03%. The company had revenue of $426.60 million for the quarter, compared to analysts’ expectations of $426.54 million. During the same period in the previous year, the firm posted $0.38 earnings per share. The firm’s revenue for the quarter was up 68.4% on a year-over-year basis. analysts predict that Weibo Corp will post 2.68 EPS for the current fiscal year.

Several equities research analysts have recently issued reports on the company. ValuEngine raised Weibo from a “buy” rating to a “strong-buy” rating in a report on Monday, May 7th. Zacks Investment Research raised Weibo from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a report on Friday, April 20th. BidaskClub raised Weibo from a “buy” rating to a “strong-buy” rating in a report on Friday, May 4th. Finally, BNP Paribas assumed coverage on Weibo in a report on Thursday, June 14th. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. Weibo has an average rating of “Buy” and an average price target of $133.75.

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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