Franklin Resources Inc. Purchases 3,884 Shares of Weibo Co. (NASDAQ:WB)

Franklin Resources Inc. grew its position in Weibo Co. (NASDAQ:WB) by 16.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,464 shares of the information services provider’s stock after purchasing an additional 3,884 shares during the period. Franklin Resources Inc.’s holdings in Weibo were worth $266,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Acadian Asset Management LLC lifted its holdings in Weibo by 204.5% during the second 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. Headlands Technologies LLC purchased a new position in shares of Weibo in the 2nd quarter worth about $1,398,000. Krane Funds Advisors LLC grew its position in 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. Hsbc Holdings PLC increased its holdings in Weibo by 42.1% during the second quarter. Hsbc Holdings PLC now owns 59,890 shares of the information services provider’s stock worth $460,000 after buying an additional 17,749 shares during the last quarter. Finally, Seven Eight Capital LP bought a new stake in Weibo in the second quarter worth about $110,000. 68.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on WB shares. StockNews.com raised shares of Weibo from a “hold” rating to a “buy” rating in a report on Friday, December 6th. Benchmark reaffirmed a “hold” rating on shares of Weibo in a research report on Wednesday, November 20th. Finally, Citigroup lifted their price objective on Weibo from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $10.23.

Weibo Stock Performance

NASDAQ:WB opened at $9.55 on Thursday. The business’s fifty day moving average is $9.43 and its 200 day moving average is $8.68. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of 6.54 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. Weibo Co. has a 52-week low of $7.03 and a 52-week 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.