Squarepoint Ops LLC Lowers Holdings in Weibo Co. (NASDAQ:WB)

Squarepoint Ops LLC cut its stake in shares of Weibo Co. (NASDAQ:WB) by 95.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 52,193 shares of the information services provider’s stock after selling 1,039,346 shares during the period. Squarepoint Ops LLC’s holdings in Weibo were worth $401,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WB. Krane Funds Advisors LLC lifted its position in shares of Weibo by 17.4% during the second quarter. Krane Funds Advisors LLC now owns 3,803,752 shares of the information services provider’s stock worth $29,213,000 after purchasing an additional 564,068 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Weibo by 199.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,075,326 shares of the information services provider’s stock valued at $33,675,000 after purchasing an additional 2,047,135 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Weibo by 204.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,433,509 shares of the information services provider’s stock worth $18,678,000 after acquiring an additional 1,634,230 shares during the period. Canada Pension Plan Investment Board grew its holdings in Weibo by 64.1% during the second quarter. Canada Pension Plan Investment Board now owns 1,309,385 shares of the information services provider’s stock worth $10,056,000 after acquiring an additional 511,248 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Weibo in the first quarter valued at $7,435,000. 68.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. StockNews.com raised Weibo from a “hold” rating to a “buy” rating in a research report on Wednesday. Morgan Stanley dropped their price target on shares of Weibo from $8.00 to $7.50 and set an “underweight” rating on the stock in a research note on Friday, August 23rd. Nomura Securities raised Weibo to a “hold” rating in a research note on Monday, August 26th. Finally, Citigroup upped their price target on shares of Weibo from $11.00 to $12.00 and gave the company a “buy” rating in a report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Weibo presently has a consensus rating of “Hold” and an average target price of $10.23.

Weibo Price Performance

Shares of Weibo stock opened at $10.20 on Friday. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of 8.57, a P/E/G ratio of 1.96 and a beta of 0.23. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.55. Weibo Co. has a 1-year low of $7.03 and a 1-year high of $13.54. The firm’s 50-day moving average price is $8.28 and its two-hundred day moving average price is $8.45.

Weibo (NASDAQ:WB) last released its earnings results on Thursday, August 22nd. The information services provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.10. The company had revenue of $437.90 million for the quarter, compared to the consensus estimate of $437.97 million. Weibo had a net margin of 18.52% and a return on equity of 11.01%. The company’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 EPS. On average, equities analysts predict that Weibo Co. will post 1.48 earnings per share for the current fiscal year.

Weibo Profile

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.