Weibo (WB) Shares Sold by American Century Companies Inc.

American Century Companies Inc. reduced its position in Weibo (NASDAQ:WB) by 6.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 152,220 shares of the information services provider’s stock after selling 9,976 shares during the quarter. American Century Companies Inc. owned approximately 0.07% of Weibo worth $18,196,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Weibo by 15.0% during the fourth quarter. BlackRock Inc. now owns 3,251,990 shares of the information services provider’s stock valued at $336,452,000 after purchasing an additional 425,313 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Weibo by 16.0% in the 4th quarter. Acadian Asset Management LLC now owns 1,994,583 shares of the information services provider’s stock worth $206,361,000 after buying an additional 274,466 shares in the last quarter. BT Investment Management Ltd grew its holdings in Weibo by 1.3% in the 4th quarter. BT Investment Management Ltd now owns 1,036,377 shares of the information services provider’s stock worth $107,224,000 after buying an additional 13,549 shares in the last quarter. Platinum Investment Management Ltd. grew its holdings in Weibo by 21.9% in the 4th quarter. Platinum Investment Management Ltd. now owns 400,016 shares of the information services provider’s stock worth $41,385,000 after buying an additional 71,990 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Weibo by 2,256.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 279,287 shares of the information services provider’s stock worth $28,894,000 after buying an additional 267,433 shares in the last quarter. 22.52% of the stock is owned by hedge funds and other institutional investors.

WB has been the subject of a number of recent analyst reports. Jefferies Group increased their price objective on Weibo to $160.00 and gave the stock a “buy” rating in a report on Tuesday, March 13th. Zacks Investment Research raised Weibo from a “hold” rating to a “buy” rating and set a $156.00 price objective for the company in a report on Friday, February 16th. Benchmark increased their price objective on Weibo from $110.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. ValuEngine raised Weibo from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, BidaskClub lowered Weibo from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 1st. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Weibo presently has an average rating of “Buy” and a consensus price target of $134.67.

WB opened at $101.80 on Friday. The company has a market capitalization of $23.13 billion, a price-to-earnings ratio of 65.26 and a beta of 2.61. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.99 and a quick ratio of 3.99. Weibo has a 1-year low of $103.31 and a 1-year high of $105.36.

Weibo (NASDAQ:WB) last released its earnings results on Wednesday, May 9th. The information services provider reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.08. The firm had revenue of $319.90 million during the quarter, compared to the consensus estimate of $343.91 million. Weibo had a return on equity of 36.15% and a net margin of 31.12%. The firm’s revenue for the quarter was up 60.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.26 earnings per share. analysts predict that Weibo will post 2.72 EPS for the current fiscal year.

Weibo Company Profile

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates through two segments, Advertising and Marketing Services, and Value-Added Services. The company offers self-expression products that enable its users to express themselves on its platform; social products to promote social interaction between users on its platform; and discovery products to help users discover content on its platform.

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Institutional Ownership by Quarter for Weibo (NASDAQ:WB)

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