Credit Suisse AG cut its stake in shares of Sina Corporation (NASDAQ:SINA) by 19.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 212,369 shares of the technology company’s stock after selling 51,218 shares during the period. Credit Suisse AG owned about 0.30% of Sina Corporation worth $15,317,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. USA Financial Portformulas Corp increased its stake in Sina Corporation by 2.1% in the fourth quarter. USA Financial Portformulas Corp now owns 3,655 shares of the technology company’s stock worth $222,000 after buying an additional 74 shares during the last quarter. Sheaff Brock Investment Advisors LLC bought a new stake in Sina Corporation during the first quarter worth $228,000. Comerica Bank increased its stake in Sina Corporation by 14.6% in the fourth quarter. Comerica Bank now owns 4,008 shares of the technology company’s stock worth $275,000 after buying an additional 511 shares during the last quarter. GRATRY & Co LLC bought a new stake in Sina Corporation during the first quarter worth $283,000. Finally, Teza Capital Management LLC bought a new stake in Sina Corporation during the first quarter worth $298,000. Institutional investors and hedge funds own 66.07% of the company’s stock.

Sina Corporation (SINA) traded up 2.44% during trading on Thursday, hitting $96.26. The stock had a trading volume of 674,956 shares. Sina Corporation has a 52 week low of $54.05 and a 52 week high of $105.99. The stock has a market capitalization of $6.87 billion, a P/E ratio of 29.08 and a beta of 1.23. The company has a 50-day moving average of $89.68 and a 200-day moving average of $80.41.

Sina Corporation (NASDAQ:SINA) last announced its quarterly earnings results on Tuesday, May 16th. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.78. Sina Corporation had a return on equity of 6.19% and a net margin of 22.36%. The company had revenue of $278.10 million for the quarter, compared to the consensus estimate of $267.14 million. During the same quarter in the previous year, the business earned ($0.04) EPS. Sina Corporation’s revenue was up 40.0% compared to the same quarter last year. On average, equities analysts expect that Sina Corporation will post $2.70 earnings per share for the current fiscal year.

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A number of analysts have recently weighed in on the company. Stifel Nicolaus reiterated a “hold” rating and set a $92.00 target price (up from $74.00) on shares of Sina Corporation in a research report on Wednesday, May 17th. Jefferies Group LLC reiterated a “buy” rating and set a $122.00 target price on shares of Sina Corporation in a research report on Wednesday, May 17th. Benchmark Co. assumed coverage on Sina Corporation in a research report on Tuesday, April 18th. They set a “buy” rating and a $110.00 target price for the company. BidaskClub downgraded Sina Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, T.H. Capital upped their target price on Sina Corporation from $62.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, May 12th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Sina Corporation presently has an average rating of “Buy” and an average price target of $90.71.

Sina Corporation Company Profile

Sina Corporation is an online media company serving China and the global Chinese communities. The Company’s digital media network of SINA.com (portal), SINA mobile (mobile portal and mobile applications) and Weibo (social media) enables Internet users to access professional media and user generated content (UGCs) in multi-media formats from personal computers and mobile devices, and share their interests with friends and acquaintances.

Institutional Ownership by Quarter for Sina Corporation (NASDAQ:SINA)

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