Weibo Co. (NASDAQ:WB) Shares Purchased by Millennium Management LLC

Millennium Management LLC raised its stake in Weibo Co. (NASDAQ:WB) by 56.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 726,940 shares of the information services provider’s stock after acquiring an additional 261,180 shares during the period. Millennium Management LLC owned 0.31% of Weibo worth $5,583,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its position in Weibo by 199.1% in the 4th 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 during the last quarter. Headlands Technologies LLC bought a new stake in shares of Weibo during the second quarter valued at approximately $1,398,000. Krane Funds Advisors LLC boosted 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 buying an additional 564,068 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Weibo by 65.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 119,025 shares of the information services provider’s stock worth $1,082,000 after buying an additional 46,898 shares in the last quarter. Finally, Quadrature Capital Ltd increased its position in Weibo by 47.8% in the 4th quarter. Quadrature Capital Ltd now owns 48,602 shares of the information services provider’s stock valued at $531,000 after acquiring an additional 15,715 shares during the period. 68.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on WB shares. Citigroup raised their price target on Weibo from $11.00 to $12.00 and gave the company a “buy” rating in a report on Monday, September 30th. StockNews.com upgraded shares of Weibo from a “hold” rating to a “buy” rating in a research report on Wednesday. Nomura Securities upgraded shares of Weibo to a “hold” rating in a report on Monday, August 26th. Finally, Morgan Stanley dropped their target price on Weibo from $8.00 to $7.50 and set an “underweight” rating on the stock in a report on Friday, August 23rd. Two 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 MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $10.23.

Weibo Trading Down 0.1 %

Shares of NASDAQ:WB opened at $10.19 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.34 and a current ratio of 2.34. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of 7.96, a PEG ratio of 1.69 and a beta of 0.23. Weibo Co. has a 1-year low of $7.03 and a 1-year high of $13.22. The company has a 50 day moving average price of $8.34 and a 200 day moving average price of $8.46.

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

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.