SG Americas Securities LLC reduced its holdings in shares of Weibo Corporation (NASDAQ:WB – Free Report) by 79.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,110 shares of the information services provider’s stock after selling 66,998 shares during the quarter. SG Americas Securities LLC’s holdings in Weibo were worth $150,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. WealthCollab LLC raised its stake in shares of Weibo by 50.1% in the 4th quarter. WealthCollab LLC now owns 5,123 shares of the information services provider’s stock valued at $52,000 after acquiring an additional 1,709 shares during the period. Daiwa Securities Group Inc. purchased a new stake in Weibo during the 2nd quarter worth $61,000. FourThought Financial Partners LLC purchased a new stake in Weibo during the 4th quarter worth $110,000. AQR Capital Management LLC acquired a new stake in Weibo in the 1st quarter valued at $117,000. Finally, Verition Fund Management LLC acquired a new stake in Weibo in the 4th quarter valued at $138,000. Institutional investors and hedge funds own 68.77% of the company’s stock.
Weibo Price Performance
Shares of WB stock opened at $7.72 on Monday. The firm has a fifty day simple moving average of $7.82 and a 200-day simple moving average of $9.07. The company has a market capitalization of $1.90 billion, a PE ratio of 5.40, a price-to-earnings-growth ratio of 4.64 and a beta of 0.21. Weibo Corporation has a twelve month low of $7.09 and a twelve month high of $12.96. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.48.
Analysts Set New Price Targets
A number of research analysts have commented on WB shares. Zacks Research cut Weibo from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 9th. Weiss Ratings downgraded Weibo from a “hold (c)” rating to a “sell (d+)” rating in a research report on Monday, April 27th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $9.80 target price on shares of Weibo in a research note on Thursday, May 28th. Two analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $11.90.
Weibo Company Profile
Weibo Corporation operates one of China’s leading social media and microblogging platforms under the brand name Weibo. Launched in August 2009 by Sina Corporation, Weibo enables users to create, share and engage with short-form posts in real time. The platform supports text, images, videos and live streams, and offers features such as trending topics, hashtag campaigns and public discussion forums to facilitate user interaction and content discovery.
Weibo’s product suite extends beyond basic social networking to include digital content services such as live streaming, online games, value-added messaging and e-commerce integrations.
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