Zurcher Kantonalbank Zurich Cantonalbank Acquires 3,045 Shares of Weibo Corporation (WB)
Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Weibo Corporation (NASDAQ:WB) by 40.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,645 shares of the information services provider’s stock after purchasing an additional 3,045 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Weibo Corporation were worth $708,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of WB. Alta Advisers Ltd increased its holdings in Weibo Corporation by 5.0% during the first quarter. Alta Advisers Ltd now owns 2,100 shares of the information services provider’s stock worth $110,000 after buying an additional 100 shares during the last quarter. Catamount Wealth Management acquired a new position in Weibo Corporation during the second quarter worth $113,000. Oppenheimer Asset Management Inc. acquired a new position in Weibo Corporation during the first quarter worth $162,000. Victory Capital Management Inc. increased its holdings in Weibo Corporation by 16.0% during the first quarter. Victory Capital Management Inc. now owns 3,894 shares of the information services provider’s stock worth $203,000 after buying an additional 537 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in Weibo Corporation by 41.7% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,400 shares of the information services provider’s stock worth $226,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 19.58% of the company’s stock.
A number of brokerages recently weighed in on WB. Zacks Investment Research upgraded shares of Weibo Corporation from a “hold” rating to a “strong-buy” rating and set a $95.00 target price on the stock in a report on Tuesday, August 15th. Instinet restated a “buy” rating and set a $102.00 target price (up from $91.00) on shares of Weibo Corporation in a report on Friday, August 11th. Barclays PLC set a $100.00 target price on shares of Weibo Corporation and gave the stock an “overweight” rating in a report on Friday, August 11th. Jefferies Group LLC lowered their target price on shares of Weibo Corporation from $105.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, August 10th. Finally, BidaskClub upgraded shares of Weibo Corporation from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Eight investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $80.19.
Weibo Corporation (NASDAQ WB) opened at 106.61 on Wednesday. The firm has a 50 day moving average of $89.30 and a 200 day moving average of $69.01. Weibo Corporation has a 12-month low of $40.12 and a 12-month high of $107.86. The firm has a market capitalization of $22.10 billion, a P/E ratio of 122.82 and a beta of 2.61.
Weibo Corporation (NASDAQ:WB) last issued its quarterly earnings data on Wednesday, August 9th. The information services provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. Weibo Corporation had a return on equity of 24.45% and a net margin of 23.22%. The business had revenue of $253.37 million for the quarter, compared to analysts’ expectations of $246.78 million. During the same period last year, the business earned $0.16 EPS. The business’s revenue was up 72.5% on a year-over-year basis. On average, analysts forecast that Weibo Corporation will post $1.63 EPS for the current fiscal year.
Weibo Corporation Company Profile
Weibo Corporation is a social media platform for people to create, distribute and discover Chinese-language content. The Company provides ways for people and organizations to publicly express themselves in real time, interact with others on a global platform and stay connected with the world. It operates in two segments: advertising and marketing services and other services.
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