UBS Asset Management Americas Inc. boosted its holdings in Weibo Corporation (NASDAQ:WB) by 9.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,870 shares of the information services provider’s stock after purchasing an additional 6,170 shares during the period. UBS Asset Management Americas Inc.’s holdings in Weibo Corporation were worth $4,711,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of WB. Catamount Wealth Management bought a new stake in shares of Weibo Corporation in the second quarter valued at $113,000. DekaBank Deutsche Girozentrale raised its stake in shares of Weibo Corporation by 301.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 3,006 shares of the information services provider’s stock valued at $626,000 after buying an additional 2,257 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in shares of Weibo Corporation in the first quarter valued at $162,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Weibo Corporation by 41.7% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,400 shares of the information services provider’s stock valued at $226,000 after buying an additional 1,000 shares during the period. Finally, Conning Inc. bought a new stake in shares of Weibo Corporation in the second quarter valued at $242,000. 19.56% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Weibo Corporation (NASDAQ WB) opened at 100.40 on Monday. Weibo Corporation has a 1-year low of $40.12 and a 1-year high of $108.30.

Weibo Corporation (NASDAQ:WB) last released its earnings results on Wednesday, August 9th. The information services provider reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.02. The company had revenue of $253.37 million for the quarter, compared to the consensus estimate of $246.78 million. Weibo Corporation had a return on equity of 24.45% and a net margin of 23.22%. Weibo Corporation’s quarterly revenue was up 72.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.16 earnings per share. On average, equities analysts anticipate that Weibo Corporation will post $1.64 earnings per share for the current fiscal year.

Several brokerages have issued reports on WB. BidaskClub lowered Weibo Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 30th. Jefferies Group LLC lowered their target price on Weibo Corporation from $105.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, August 10th. Instinet restated a “buy” rating and issued a $102.00 target price (up from $91.00) on shares of Weibo Corporation in a research note on Friday, August 11th. Zacks Investment Research lowered Weibo Corporation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, Citigroup Inc. restated a “buy” rating and issued a $126.00 target price (up from $102.00) on shares of Weibo Corporation in a research note on Thursday, September 14th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $85.28.

About Weibo Corporation

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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