Weibo Corporation $WB Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC grew its stake in Weibo Corporation (NASDAQ:WB) by 151.7% in the second quarter, Holdings Channel.com reports. The firm owned 180,011 shares of the information services provider’s stock after acquiring an additional 108,506 shares during the quarter. Hsbc Holdings PLC’s holdings in Weibo were worth $1,715,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in Weibo by 497.1% during the second quarter. JPMorgan Chase & Co. now owns 720,348 shares of the information services provider’s stock worth $6,865,000 after buying an additional 599,700 shares during the last quarter. National Bank of Canada FI boosted its position in shares of Weibo by 28,999,900.0% during the 1st quarter. National Bank of Canada FI now owns 290,000 shares of the information services provider’s stock valued at $2,746,000 after acquiring an additional 289,999 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Weibo by 72.3% during the 2nd quarter. Prudential Financial Inc. now owns 484,800 shares of the information services provider’s stock valued at $4,620,000 after acquiring an additional 203,500 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Weibo by 48.7% in the second quarter. American Century Companies Inc. now owns 588,845 shares of the information services provider’s stock valued at $5,612,000 after purchasing an additional 192,955 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Weibo during the second quarter worth about $1,412,000. Institutional investors and hedge funds own 68.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on WB shares. Wall Street Zen lowered shares of Weibo from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Citigroup upped their price objective on Weibo from $12.00 to $14.00 and gave the company a “buy” rating in a report on Friday, August 15th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Weibo in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Weibo Stock Performance

Shares of WB stock opened at $10.42 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.35 and a current ratio of 3.35. The firm has a market cap of $2.55 billion, a P/E ratio of 5.92, a P/E/G ratio of 5.06 and a beta of 0.13. The firm’s 50 day moving average price is $10.98 and its 200-day moving average price is $10.64. Weibo Corporation has a one year low of $7.10 and a one year high of $12.96.

Weibo (NASDAQ:WB) last announced its earnings results on Tuesday, November 18th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). Weibo had a net margin of 26.58% and a return on equity of 11.79%. The firm had revenue of $442.31 million during the quarter, compared to analysts’ expectations of $447.88 million. During the same period in the previous year, the firm earned $0.53 EPS. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. As a group, equities research analysts predict that Weibo Corporation will post 1.62 EPS for the current year.

Weibo Company Profile

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, discover, and distribute content in the People’s Republic of China. It operates in two segments, Advertising and Marketing Services; and Value-Added Services. The company offers discovery products to help users discover content on its platform; self-expression products that enable its users to express themselves on its platform; and social products to promote social interaction between users on its platform.