Canada Pension Plan Investment Board boosted its position in shares of Weibo Co. (NASDAQ:WB – Free Report) by 64.1% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 1,309,385 shares of the information services provider’s stock after acquiring an additional 511,248 shares during the quarter. Canada Pension Plan Investment Board owned about 0.56% of Weibo worth $10,056,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Deltec Asset Management LLC acquired a new stake in Weibo during the 2nd quarter worth about $82,000. Seven Eight Capital LP acquired a new stake in Weibo during the 2nd quarter worth about $110,000. Bayesian Capital Management LP acquired a new position in shares of Weibo in the 1st quarter valued at about $123,000. XY Capital Ltd acquired a new position in shares of Weibo in the 1st quarter valued at about $140,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Weibo by 21.5% in the 2nd quarter. SG Americas Securities LLC now owns 51,661 shares of the information services provider’s stock valued at $397,000 after buying an additional 9,143 shares during the period. Institutional investors and hedge funds own 68.77% of the company’s stock.
Weibo Stock Performance
NASDAQ WB opened at $8.66 on Wednesday. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 7.28, a PEG ratio of 1.22 and a beta of 0.22. Weibo Co. has a twelve month low of $7.03 and a twelve month high of $13.54. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.55. The stock has a 50-day moving average of $7.66 and a 200 day moving average of $8.36.
Wall Street Analysts Forecast Growth
WB has been the subject of several analyst reports. Morgan Stanley decreased their price objective on Weibo from $8.00 to $7.50 and set an “underweight” rating for the company in a report on Friday, August 23rd. Nomura Securities raised Weibo to a “hold” rating in a report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Weibo has an average rating of “Hold” and a consensus price target of $9.88.
Check Out Our Latest Analysis on Weibo
About Weibo
Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover 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.
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