Geode Capital Management LLC Has $2.25 Million Stock Holdings in Weibo Co. (NASDAQ:WB)

Geode Capital Management LLC grew its position in shares of Weibo Co. (NASDAQ:WB) by 78.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 223,447 shares of the information services provider’s stock after purchasing an additional 98,017 shares during the quarter. Geode Capital Management LLC owned approximately 0.10% of Weibo worth $2,252,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. raised its holdings 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 purchasing an additional 1,970 shares during the last quarter. State Street Corp raised its position in shares of Weibo by 0.7% in the 3rd quarter. State Street Corp now owns 931,749 shares of the information services provider’s stock worth $9,392,000 after acquiring an additional 6,369 shares in the last quarter. Quadrature Capital Ltd boosted its position in shares of Weibo by 22.8% during the 3rd quarter. Quadrature Capital Ltd now owns 40,464 shares of the information services provider’s stock valued at $408,000 after purchasing an additional 7,508 shares in the last quarter. Creative Planning bought a new stake in shares of Weibo during the 3rd quarter valued at about $112,000. Finally, Seven Eight Capital LP acquired a new stake in Weibo during the second quarter worth approximately $110,000. 68.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Citigroup boosted their target price on shares of Weibo from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Monday, September 30th. StockNews.com raised Weibo from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Finally, Benchmark reiterated a “hold” rating on shares of Weibo in a research note on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Weibo currently has an average rating of “Hold” and an average price target of $10.23.

Weibo Stock Up 1.9 %

WB opened at $9.28 on Wednesday. The company has a quick ratio of 3.57, a current ratio of 3.57 and a debt-to-equity ratio of 0.51. The business’s fifty day simple moving average is $9.42 and its 200 day simple moving average is $8.72. Weibo Co. has a 52 week low of $7.03 and a 52 week high of $12.40. The stock has a market cap of $2.17 billion, a PE ratio of 6.36 and a beta of 0.26.

Weibo 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.