Korea Investment CORP trimmed its position in Weibo Corporation (NASDAQ:WB) by 68.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,900 shares of the information services provider’s stock after selling 8,570 shares during the quarter. Korea Investment CORP’s holdings in Weibo Corporation were worth $386,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Steinberg Global Asset Management boosted its position in 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 valued at $482,000 after purchasing an additional 46 shares during the period. 1st Global Advisors Inc. boosted its position in Weibo Corporation by 1.8% during the 2nd quarter. 1st Global Advisors Inc. now owns 8,444 shares of the information services provider’s stock valued at $561,000 after purchasing an additional 150 shares during the period. Oppenheimer Asset Management Inc. boosted its position in 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 valued at $216,000 after purchasing an additional 155 shares during the period. Aviva PLC boosted its position in Weibo Corporation by 7.9% during the 2nd quarter. Aviva PLC now owns 6,150 shares of the information services provider’s stock valued at $409,000 after purchasing an additional 450 shares during the period. Finally, Swiss National Bank boosted its position in Weibo Corporation by 0.8% during the 2nd quarter. Swiss National Bank now owns 83,670 shares of the information services provider’s stock valued at $5,562,000 after purchasing an additional 631 shares during the period. Institutional investors and hedge funds own 19.70% of the company’s stock.

Shares of Weibo Corporation (NASDAQ WB) opened at $99.28 on Wednesday. The stock has a market capitalization of $21,946.94, a price-to-earnings ratio of 114.03 and a beta of 2.50. Weibo Corporation has a 52-week low of $40.12 and a 52-week high of $108.30.

Weibo Corporation (NASDAQ:WB) last announced its earnings results on Tuesday, November 7th. The information services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. The company had revenue of $320.00 million for the quarter, compared to analyst estimates of $297.20 million. Weibo Corporation had a return on equity of 24.45% and a net margin of 23.22%. Weibo Corporation’s revenue for the quarter was up 80.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.24 earnings per share. equities research analysts predict that Weibo Corporation will post 1.45 EPS for the current fiscal year.

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A number of brokerages have issued reports on WB. Citigroup Inc. reiterated a “buy” rating and set a $126.00 price target (up previously from $102.00) on shares of Weibo Corporation in a research report on Thursday, September 14th. BidaskClub lowered Weibo Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 7th. Zacks Investment Research lowered Weibo Corporation from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 12th. Jefferies Group LLC reduced their price target on Weibo Corporation from $105.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, August 10th. Finally, Instinet reissued a “buy” rating and issued a $102.00 price objective (up previously from $91.00) on shares of Weibo Corporation in a research note on Friday, August 11th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Weibo Corporation has an average rating of “Buy” and a consensus target price of $85.28.

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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