Weibo Co. (NASDAQ:WB) Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund lifted its holdings in shares of Weibo Co. (NASDAQ:WB) by 24.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 276,349 shares of the information services provider’s stock after purchasing an additional 54,600 shares during the quarter. New York State Common Retirement Fund owned about 0.11% of Weibo worth $2,639,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in WB. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Weibo by 60.0% in 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 valued at $2,845,000 after acquiring an additional 105,780 shares in the last quarter. Citigroup Inc. raised its holdings in Weibo by 347.3% in the third quarter. Citigroup Inc. now owns 602,853 shares of the information services provider’s stock valued at $6,077,000 after acquiring an additional 468,072 shares in the last quarter. Geode Capital Management LLC raised its holdings in Weibo by 78.1% in the third quarter. Geode Capital Management LLC now owns 223,447 shares of the information services provider’s stock valued at $2,252,000 after acquiring an additional 98,017 shares in the last quarter. Caprock Group LLC acquired a new stake in Weibo in the fourth quarter valued at approximately $229,000. Finally, Barclays PLC raised its holdings in Weibo by 13.8% in the third quarter. Barclays PLC now owns 212,919 shares of the information services provider’s stock valued at $2,146,000 after acquiring an additional 25,750 shares in the last quarter. Institutional investors and hedge funds own 68.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Benchmark reiterated a “hold” rating on shares of Weibo in a research note on Wednesday, November 20th. StockNews.com upgraded shares of Weibo from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. One research analyst has 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 data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $10.28.

Weibo Stock Performance

Shares of WB opened at $10.01 on Friday. The company’s 50 day simple moving average is $10.00 and its 200-day simple moving average is $9.29. The firm has a market cap of $2.43 billion, a PE ratio of 6.86 and a beta of 0.26. Weibo Co. has a 12-month low of $7.03 and a 12-month high of $12.40. The company has a current ratio of 3.57, a quick ratio of 3.57 and a debt-to-equity ratio of 0.51.

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.