Ensign Peak Advisors Inc Increases Stock Holdings in Weibo Co. (NASDAQ:WB)

Ensign Peak Advisors Inc lifted its stake in shares of Weibo Co. (NASDAQ:WB) by 18.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,400 shares of the information services provider’s stock after buying an additional 700 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Weibo were worth $232,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Earnest Partners LLC grew its stake in Weibo by 21,993,225.0% during the 1st quarter. Earnest Partners LLC now owns 1,759,466 shares of the information services provider’s stock valued at $88,783,000 after purchasing an additional 1,759,458 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in Weibo by 312.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,843,611 shares of the information services provider’s stock valued at $93,029,000 after purchasing an additional 1,396,180 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Weibo during the 1st quarter valued at approximately $13,932,000. Krane Funds Advisors LLC grew its stake in Weibo by 38.0% during the 2nd quarter. Krane Funds Advisors LLC now owns 693,199 shares of the information services provider’s stock valued at $36,476,000 after purchasing an additional 190,798 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in Weibo by 223.3% during the 2nd quarter. SG Americas Securities LLC now owns 81,369 shares of the information services provider’s stock valued at $4,282,000 after purchasing an additional 147,336 shares in the last quarter. Institutional investors and hedge funds own 29.72% of the company’s stock.

A number of equities research analysts have weighed in on WB shares. HSBC upgraded Weibo from a “reduce” rating to a “hold” rating and raised their price objective for the company from $40.00 to $51.00 in a research note on Friday, August 20th. Credit Suisse Group upgraded Weibo from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $48.00 to $56.00 in a research report on Thursday, August 19th. Benchmark lifted their target price on Weibo from $67.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, August 19th. Finally, Zacks Investment Research lowered Weibo from a “hold” rating to a “strong sell” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $52.50.

Shares of WB opened at $50.88 on Thursday. The firm has a market cap of $11.58 billion, a price-to-earnings ratio of 59.86, a PEG ratio of 5.60 and a beta of 1.10. The stock has a 50 day moving average of $50.20 and a 200-day moving average of $51.45. The company has a current ratio of 4.26, a quick ratio of 4.26 and a debt-to-equity ratio of 0.80. Weibo Co. has a 52 week low of $37.30 and a 52 week high of $64.70.

Weibo (NASDAQ:WB) last released its quarterly earnings data on Tuesday, August 17th. The information services provider reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.16. Weibo had a return on equity of 6.78% and a net margin of 9.62%. The business had revenue of $574.50 million during the quarter, compared to analyst estimates of $525.88 million. During the same quarter in the previous year, the firm posted $0.50 EPS. The business’s revenue for the quarter was up 48.3% compared to the same quarter last year. On average, sell-side analysts predict that Weibo Co. will post 1.96 earnings per share for the current fiscal year.

Weibo Company Profile

Weibo Corp. engages in the creation, distribution, and discovery of Chinese-language content. It operates through the Advertising and Marketing Services, and Other Services segments. Its products and services include Self-Expression, such as Feed, Individual page, and Enterprise page; Social Products, such as Follow, Repost, Comment, Favorite, like, Mention, Messenger, and Group Chat; Discovery Products, such as Information Feed, Search, Object Page, Trends, and Discovery Channel; Notifications; Weibo Games; VIP Membership; and Weibo Apps.

Read More: What strategies should day traders use to execute a trade?

Want to see what other hedge funds are holding WB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Weibo Co. (NASDAQ:WB).

Institutional Ownership by Quarter for Weibo (NASDAQ:WB)

Receive News & Ratings for Weibo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Weibo and related companies with MarketBeat.com's FREE daily email newsletter.