Krane Funds Advisors LLC Buys 934,898 Shares of Weibo Corporation $WB

Krane Funds Advisors LLC boosted its stake in Weibo Corporation (NASDAQ:WB) by 25.0% in the third quarter, Holdings Channel reports. The firm owned 4,676,063 shares of the information services provider’s stock after purchasing an additional 934,898 shares during the quarter. Weibo accounts for about 1.6% of Krane Funds Advisors LLC’s investment portfolio, making the stock its 13th largest position. Krane Funds Advisors LLC’s holdings in Weibo were worth $57,983,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allianz Asset Management GmbH increased its holdings in Weibo by 537.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 132,645 shares of the information services provider’s stock valued at $1,645,000 after buying an additional 111,821 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Weibo by 151.7% during the 2nd quarter. Hsbc Holdings PLC now owns 180,011 shares of the information services provider’s stock worth $1,715,000 after acquiring an additional 108,506 shares during the period. American Century Companies Inc. boosted its position in shares of Weibo by 48.7% during the 2nd quarter. American Century Companies Inc. now owns 588,845 shares of the information services provider’s stock worth $5,612,000 after acquiring an additional 192,955 shares in the last quarter. Virtus Advisers LLC acquired a new stake in shares of Weibo during the 2nd quarter worth approximately $1,388,000. Finally, ARGA Investment Management LP bought a new position in Weibo in the third quarter valued at approximately $647,000. Institutional investors own 68.77% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Weibo in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $14.00.

Weibo Stock Up 0.8%

Shares of NASDAQ:WB opened at $10.27 on Tuesday. Weibo Corporation has a 52-week low of $7.10 and a 52-week high of $12.96. The company has a market capitalization of $2.51 billion, a PE ratio of 5.84, a price-to-earnings-growth ratio of 5.46 and a beta of 0.15. 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 company has a fifty day moving average of $10.42 and a 200-day moving average of $10.91.

Weibo Company Profile

Weibo Corporation operates one of China’s leading social media and microblogging platforms under the brand name Weibo. Launched in August 2009 by Sina Corporation, Weibo enables users to create, share and engage with short-form posts in real time. The platform supports text, images, videos and live streams, and offers features such as trending topics, hashtag campaigns and public discussion forums to facilitate user interaction and content discovery.

Weibo’s product suite extends beyond basic social networking to include digital content services such as live streaming, online games, value-added messaging and e-commerce integrations.