Sheets Smith Wealth Management Grows Stake in Weibo Corp (WB)

Sheets Smith Wealth Management grew its position in Weibo Corp (NASDAQ:WB) by 21.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,841 shares of the information services provider’s stock after acquiring an additional 677 shares during the quarter. Sheets Smith Wealth Management’s holdings in Weibo were worth $397,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NEXT Financial Group Inc increased its holdings in shares of Weibo by 9,900.0% in the third quarter. NEXT Financial Group Inc now owns 1,000 shares of the information services provider’s stock valued at $100,000 after purchasing an additional 990 shares during the last quarter. YorkBridge Wealth Partners LLC acquired a new stake in shares of Weibo in the third quarter valued at approximately $105,000. Risk Paradigm Group LLC acquired a new stake in shares of Weibo in the third quarter valued at approximately $109,000. Castleark Management LLC acquired a new stake in shares of Weibo in the second quarter valued at approximately $110,000. Finally, Pinnacle Financial Partners Inc. acquired a new stake in shares of Weibo in the third quarter valued at approximately $220,000. Institutional investors and hedge funds own 21.95% of the company’s stock.

Shares of Weibo Corp (NASDAQ:WB) opened at $121.44 on Friday. The stock has a market capitalization of $26,530.55, a price-to-earnings ratio of 101.64 and a beta of 2.54. Weibo Corp has a one year low of $45.40 and a one year high of $123.00.

Weibo (NASDAQ:WB) last posted its earnings results on Tuesday, November 7th. The information services provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.06. Weibo had a return on equity of 30.00% and a net margin of 26.85%. The company had revenue of $320.00 million during the quarter, compared to analysts’ expectations of $297.20 million. During the same quarter last year, the firm earned $0.24 earnings per share. The firm’s quarterly revenue was up 80.9% compared to the same quarter last year. research analysts anticipate that Weibo Corp will post 1.51 earnings per share for the current fiscal year.

WB has been the subject of several recent research reports. UBS Group initiated coverage on Weibo in a report on Tuesday, January 2nd. They issued a “buy” rating and a $125.00 price target for the company. BidaskClub cut Weibo from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 7th. Zacks Investment Research raised Weibo from a “hold” rating to a “buy” rating and set a $118.00 target price for the company in a research note on Tuesday, November 14th. Benchmark cut their target price on Weibo from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Wednesday, November 8th. Finally, Barclays raised their target price on Weibo from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the stock. Weibo currently has an average rating of “Buy” and an average price target of $104.85.

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About Weibo

Weibo Corporation is a social media platform for people to create, distribute and discover Chinese-language content. The Company provides ways for people and organizations to publicly express themselves in real time, interact with others on a global platform and stay connected with the world. It operates in two segments: advertising and marketing services and other services.

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Institutional Ownership by Quarter for Weibo (NASDAQ:WB)

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