BNP Paribas Financial Markets Purchases 41,137 Shares of Weibo Co. (NASDAQ:WB)

BNP Paribas Financial Markets boosted its holdings in shares of Weibo Co. (NASDAQ:WB) by 98.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 83,106 shares of the information services provider’s stock after acquiring an additional 41,137 shares during the quarter. BNP Paribas Financial Markets’ holdings in Weibo were worth $838,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Seven Eight Capital LP acquired a new stake in shares of Weibo in the second quarter worth $110,000. Creative Planning bought a new position in Weibo in the 3rd quarter worth $112,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in Weibo by 17.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,261 shares of the information services provider’s stock worth $134,000 after acquiring an additional 1,970 shares during the last quarter. Diversified Trust Co bought a new stake in Weibo during the third quarter valued at about $194,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Weibo in the third quarter valued at about $318,000. 68.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on WB shares. Morgan Stanley dropped their price objective on shares of Weibo from $8.00 to $7.50 and set an “underweight” rating on the stock in a report on Friday, August 23rd. Citigroup increased their price objective on Weibo from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Benchmark restated a “hold” rating on shares of Weibo in a research note on Wednesday, November 20th. Nomura Securities raised shares of Weibo to a “hold” rating in a research note on Monday, August 26th. Finally, StockNews.com upgraded Weibo from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Weibo presently has a consensus rating of “Hold” and a consensus target price of $10.23.

Weibo Trading Up 0.9 %

NASDAQ:WB opened at $10.40 on Thursday. The company has a quick ratio of 3.57, a current ratio of 3.57 and a debt-to-equity ratio of 0.51. Weibo Co. has a twelve month low of $7.03 and a twelve month high of $12.40. The company has a market cap of $2.44 billion, a P/E ratio of 7.12 and a beta of 0.27. The business has a 50 day moving average price of $9.41 and a two-hundred day moving average price of $8.53.

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.