Asset Management One Co. Ltd. reduced its position in shares of Sina Corporation (NASDAQ:SINA) by 13.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 62,237 shares of the technology company’s stock after selling 9,811 shares during the period. Asset Management One Co. Ltd. owned about 0.09% of Sina Corporation worth $4,489,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SINA. Macquarie Group Ltd. boosted its position in Sina Corporation by 13.8% in the fourth quarter. Macquarie Group Ltd. now owns 3,997,332 shares of the technology company’s stock worth $242,980,000 after buying an additional 485,381 shares during the last quarter. Wells Fargo & Company MN boosted its position in Sina Corporation by 0.4% in the first quarter. Wells Fargo & Company MN now owns 2,331,525 shares of the technology company’s stock worth $168,149,000 after buying an additional 8,891 shares during the last quarter. Two Sigma Investments LP boosted its position in Sina Corporation by 4.3% in the fourth quarter. Two Sigma Investments LP now owns 994,014 shares of the technology company’s stock worth $60,426,000 after buying an additional 40,854 shares during the last quarter. State Street Corp boosted its stake in Sina Corporation by 287.8% in the fourth quarter. State Street Corp now owns 801,649 shares of the technology company’s stock worth $48,734,000 after buying an additional 594,936 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in Sina Corporation by 141.0% in the first quarter. Neuberger Berman Group LLC now owns 696,037 shares of the technology company’s stock worth $50,198,000 after buying an additional 407,189 shares in the last quarter. 65.62% of the stock is owned by institutional investors.
Shares of Sina Corporation (SINA) traded up 0.21% during trading on Tuesday, hitting $88.58. 270,666 shares of the stock traded hands. Sina Corporation has a 52-week low of $48.09 and a 52-week high of $105.99. The firm has a market cap of $6.29 billion, a PE ratio of 27.06 and a beta of 1.15. The company’s 50 day moving average is $90.30 and its 200 day moving average is $75.33.
Sina Corporation (NASDAQ:SINA) last released its quarterly earnings data on Tuesday, May 16th. The technology company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.78. Sina Corporation had a return on equity of 6.19% and a net margin of 22.36%. The firm had revenue of $278.10 million for the quarter, compared to the consensus estimate of $267.14 million. During the same quarter in the prior year, the company posted ($0.04) earnings per share. The firm’s revenue was up 40.0% on a year-over-year basis. On average, equities research analysts predict that Sina Corporation will post $2.68 EPS for the current year.
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SINA has been the subject of a number of research reports. Jefferies Group LLC set a $98.00 target price on shares of Sina Corporation and gave the stock a “buy” rating in a research note on Thursday, March 2nd. Benchmark Co. began coverage on shares of Sina Corporation in a research note on Tuesday, April 18th. They set a “buy” rating and a $110.00 target price for the company. Zacks Investment Research cut shares of Sina Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, March 16th. Stifel Nicolaus reaffirmed a “hold” rating and set a $92.00 price objective (up previously from $74.00) on shares of Sina Corporation in a research note on Wednesday, May 17th. Finally, T.H. Capital upped their price objective on shares of Sina Corporation from $62.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, May 12th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Sina Corporation currently has an average rating of “Buy” and a consensus price target of $90.71.
Sina Corporation Company Profile
Sina Corporation is an online media company serving China and the global Chinese communities. The Company’s digital media network of SINA.com (portal), SINA mobile (mobile portal and mobile applications) and Weibo (social media) enables Internet users to access professional media and user generated content (UGCs) in multi-media formats from personal computers and mobile devices, and share their interests with friends and acquaintances.
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