Zurcher Kantonalbank Zurich Cantonalbank Acquires 1,400 Shares of Weibo Corp (WB)
Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Weibo Corp (NASDAQ:WB) by 13.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,045 shares of the information services provider’s stock after buying an additional 1,400 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Weibo were worth $1,246,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the stock. NEXT Financial Group Inc lifted its stake in Weibo by 9,900.0% in the 3rd quarter. NEXT Financial Group Inc now owns 1,000 shares of the information services provider’s stock worth $100,000 after purchasing an additional 990 shares in the last quarter. YorkBridge Wealth Partners LLC bought a new stake in Weibo during the 3rd quarter valued at about $105,000. Risk Paradigm Group LLC bought a new stake in Weibo during the 3rd quarter valued at about $109,000. Castleark Management LLC bought a new stake in Weibo during the 2nd quarter valued at about $110,000. Finally, Ipswich Investment Management Co. Inc. bought a new stake in Weibo during the 4th quarter valued at about $208,000. Institutional investors own 22.14% of the company’s stock.
Shares of Weibo Corp (NASDAQ:WB) opened at $129.66 on Wednesday. The company has a market cap of $26,172.18, a P/E ratio of 109.88 and a beta of 2.65. Weibo Corp has a 12 month low of $47.36 and a 12 month high of $136.19.
WB has been the subject of a number of research analyst reports. ValuEngine lowered shares of Weibo from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded shares of Weibo from a “hold” rating to a “buy” rating and set a $118.00 price target for the company in a research note on Tuesday, November 14th. Benchmark lifted their price target on shares of Weibo to $148.00 and gave the stock a “buy” rating in a research note on Wednesday. UBS Group initiated coverage on shares of Weibo in a research note on Tuesday, January 2nd. They issued a “buy” rating and a $125.00 price target for the company. Finally, Barclays lifted their price target on shares of Weibo to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the stock. Weibo currently has a consensus rating of “Buy” and an average target price of $111.65.
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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