State Street Corp Raises Holdings in Weibo Co. (NASDAQ:WB)

State Street Corp boosted its stake in Weibo Co. (NASDAQ:WB) by 0.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 931,749 shares of the information services provider’s stock after purchasing an additional 6,369 shares during the period. State Street Corp owned about 0.40% of Weibo worth $9,392,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Weibo by 60.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 282,199 shares of the information services provider’s stock worth $2,845,000 after purchasing an additional 105,780 shares during the period. Headlands Technologies LLC purchased a new stake in Weibo in the 2nd quarter worth approximately $1,398,000. Citigroup Inc. grew its position in shares of Weibo by 347.3% in the 3rd quarter. Citigroup Inc. now owns 602,853 shares of the information services provider’s stock worth $6,077,000 after buying an additional 468,072 shares during the last quarter. Krane Funds Advisors LLC increased its stake 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 valued at $29,213,000 after buying an additional 564,068 shares during the period. Finally, Polunin Capital Partners Ltd purchased a new position in shares of Weibo during the third quarter valued at approximately $5,064,000. Institutional investors own 68.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Citigroup lifted 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. Benchmark reaffirmed a “hold” rating on shares of Weibo in a research note on Wednesday, November 20th. Finally, StockNews.com raised shares of Weibo from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $10.23.

Weibo Stock Down 0.7 %

Weibo stock opened at $9.84 on Friday. The stock has a market cap of $2.30 billion, a PE ratio of 6.74 and a beta of 0.27. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.57 and a current ratio of 3.57. The stock has a fifty day moving average of $9.37 and a 200 day moving average of $8.64. Weibo Co. has a one year low of $7.03 and a one year high of $12.40.

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.