Weibo Corp (WB) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its position in shares of Weibo Corp (NASDAQ:WB) by 4.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 326,808 shares of the information services provider’s stock after selling 13,727 shares during the quarter. Renaissance Technologies LLC’s holdings in Weibo were worth $33,812,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Weibo by 14.0% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,413 shares of the information services provider’s stock valued at $436,000 after purchasing an additional 542 shares during the last quarter. Advisor Group Inc. grew its stake in shares of Weibo by 13.7% during the third quarter. Advisor Group Inc. now owns 5,043 shares of the information services provider’s stock valued at $499,000 after purchasing an additional 609 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Weibo by 1.7% during the fourth quarter. Bank of Montreal Can now owns 37,778 shares of the information services provider’s stock valued at $3,908,000 after purchasing an additional 614 shares during the last quarter. Sheets Smith Wealth Management grew its stake in shares of Weibo by 21.4% during the fourth quarter. Sheets Smith Wealth Management now owns 3,841 shares of the information services provider’s stock valued at $397,000 after purchasing an additional 677 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC grew its stake in shares of Weibo by 70.2% during the fourth quarter. YorkBridge Wealth Partners LLC now owns 1,801 shares of the information services provider’s stock valued at $212,000 after purchasing an additional 743 shares during the last quarter. 22.40% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of Weibo Corp (NASDAQ:WB) opened at $133.56 on Tuesday. The company has a quick ratio of 2.23, a current ratio of 4.22 and a debt-to-equity ratio of 0.74. The firm has a market cap of $29,428.50, a price-to-earnings ratio of 85.07 and a beta of 2.57. Weibo Corp has a twelve month low of $47.52 and a twelve month high of $142.12.

Weibo (NASDAQ:WB) last posted its earnings results on Tuesday, February 13th. The information services provider reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.05. The company had revenue of $377.40 million for the quarter, compared to analyst estimates of $362.04 million. Weibo had a net margin of 30.66% and a return on equity of 35.57%. The business’s revenue for the quarter was up 77.4% compared to the same quarter last year. During the same period last year, the business posted $0.34 earnings per share. sell-side analysts anticipate that Weibo Corp will post 2.58 EPS for the current year.

A number of brokerages have issued reports on WB. Zacks Investment Research cut shares of Weibo from a “buy” rating to a “hold” rating in a research note on Saturday, February 24th. JPMorgan Chase & Co. raised their price objective on shares of Weibo from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. BidaskClub raised shares of Weibo from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 9th. Jefferies Group raised their price objective on shares of Weibo to $160.00 and gave the company a “buy” rating in a research note on Tuesday, March 13th. Finally, Barclays reaffirmed an “overweight” rating and issued a $150.00 price objective on shares of Weibo in a research note on Wednesday, February 14th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Weibo presently has an average rating of “Buy” and an average price target of $124.50.

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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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