Platinum Investment Management Ltd. purchased a new stake in Weibo Corporation (NASDAQ:WB) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 406,353 shares of the information services provider’s stock, valued at approximately $27,010,000. Weibo Corporation makes up 0.7% of Platinum Investment Management Ltd.’s investment portfolio, making the stock its 28th biggest holding.

Several other large investors have also bought and sold shares of WB. Steinberg Global Asset Management raised its stake in shares of Weibo Corporation by 0.6% during the 2nd quarter. Steinberg Global Asset Management now owns 7,249 shares of the information services provider’s stock worth $482,000 after acquiring an additional 46 shares in the last quarter. Comerica Bank raised its stake in shares of Weibo Corporation by 1.7% during the 1st quarter. Comerica Bank now owns 5,713 shares of the information services provider’s stock worth $316,000 after acquiring an additional 95 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Weibo Corporation by 5.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 3,252 shares of the information services provider’s stock worth $216,000 after acquiring an additional 155 shares in the last quarter. Aviva PLC raised its stake in shares of Weibo Corporation by 7.9% during the 2nd quarter. Aviva PLC now owns 6,150 shares of the information services provider’s stock worth $409,000 after acquiring an additional 450 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Weibo Corporation by 16.0% during the 1st quarter. Victory Capital Management Inc. now owns 3,894 shares of the information services provider’s stock worth $203,000 after acquiring an additional 537 shares in the last quarter. Institutional investors and hedge funds own 19.56% of the company’s stock.

Several research analysts recently commented on WB shares. BidaskClub lowered shares of Weibo Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Citigroup Inc. reiterated a “buy” rating and set a $126.00 price objective (up previously from $102.00) on shares of Weibo Corporation in a research note on Thursday, September 14th. Jefferies Group LLC reiterated a “buy” rating on shares of Weibo Corporation in a research note on Monday, June 26th. Instinet reiterated a “buy” rating and set a $102.00 price objective (up previously from $91.00) on shares of Weibo Corporation in a research note on Friday, August 11th. Finally, Zacks Investment Research lowered shares of Weibo Corporation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Weibo Corporation currently has an average rating of “Buy” and a consensus price target of $85.28.

Weibo Corporation (NASDAQ:WB) traded down 1.08% on Friday, hitting $100.40. 1,629,596 shares of the company traded hands. Weibo Corporation has a 12 month low of $40.12 and a 12 month high of $108.30.

Weibo Corporation (NASDAQ:WB) last released its quarterly earnings data on Wednesday, August 9th. The information services provider reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Weibo Corporation had a net margin of 23.22% and a return on equity of 24.45%. The company had revenue of $253.37 million for the quarter, compared to analysts’ expectations of $246.78 million. During the same quarter last year, the company earned $0.16 earnings per share. The firm’s revenue for the quarter was up 72.5% on a year-over-year basis. On average, analysts expect that Weibo Corporation will post $1.64 earnings per share for the current year.

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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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Institutional Ownership by Quarter for Weibo Corporation (NASDAQ:WB)

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