BlackRock Inc. lowered its holdings in Weibo Corporation (NASDAQ:WB) by 1.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,419,230 shares of the information services provider’s stock after selling 21,443 shares during the quarter. BlackRock Inc. owned 0.68% of Weibo Corporation worth $94,336,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Acadian Asset Management LLC raised its position in Weibo Corporation by 30.2% in the second quarter. Acadian Asset Management LLC now owns 1,707,419 shares of the information services provider’s stock valued at $113,491,000 after purchasing an additional 396,281 shares during the period. Macquarie Group Ltd. raised its position in Weibo Corporation by 55,465.9% in the first quarter. Macquarie Group Ltd. now owns 905,168 shares of the information services provider’s stock valued at $47,233,000 after purchasing an additional 903,539 shares during the period. State Street Corp raised its position in Weibo Corporation by 14.2% in the first quarter. State Street Corp now owns 513,031 shares of the information services provider’s stock valued at $26,771,000 after purchasing an additional 63,983 shares during the period. Bank of New York Mellon Corp raised its position in Weibo Corporation by 38.6% in the first quarter. Bank of New York Mellon Corp now owns 267,985 shares of the information services provider’s stock valued at $13,983,000 after purchasing an additional 74,593 shares during the period. Finally, GAM Holding AG raised its position in Weibo Corporation by 32.7% in the second quarter. GAM Holding AG now owns 263,172 shares of the information services provider’s stock valued at $17,509,000 after purchasing an additional 64,857 shares during the period. Institutional investors own 19.56% of the company’s stock.

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Shares of Weibo Corporation (WB) opened at 95.48 on Friday. The company has a 50 day moving average price of $101.42 and a 200 day moving average price of $79.17. The stock has a market cap of $19.79 billion, a P/E ratio of 110.00 and a beta of 2.57. Weibo Corporation has a 12-month low of $40.12 and a 12-month high of $108.30.

Weibo Corporation (NASDAQ:WB) last issued its earnings results on Wednesday, August 9th. The information services provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. The business had revenue of $253.37 million for the quarter, compared to analyst estimates of $246.78 million. Weibo Corporation had a return on equity of 24.45% and a net margin of 23.22%. The business’s quarterly revenue was up 72.5% on a year-over-year basis. During the same period last year, the company posted $0.16 EPS. Analysts anticipate that Weibo Corporation will post $1.64 earnings per share for the current fiscal year.

Several research firms recently issued reports on WB. Zacks Investment Research upgraded Weibo Corporation from a “hold” rating to a “strong-buy” rating and set a $95.00 price objective on the stock in a report on Tuesday, August 15th. BidaskClub upgraded Weibo Corporation from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Barclays PLC set a $100.00 price objective on Weibo Corporation and gave the company an “overweight” rating in a report on Friday, August 11th. Instinet reiterated a “buy” rating and issued a $102.00 price objective (up previously from $91.00) on shares of Weibo Corporation in a report on Friday, August 11th. Finally, Jefferies Group LLC cut their price objective on Weibo Corporation from $105.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, August 10th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $85.28.

Weibo Corporation 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.

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

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