Sumitomo Mitsui Trust Holdings Inc. Purchases 7,172 Shares of Weibo Co. (NASDAQ:WB)

Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Weibo Co. (NASDAQ:WB – Get Rating) by 5.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 138,356 shares of the information services provider’s stock after acquiring an additional 7,172 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Weibo were worth $3,391,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of WB. Parallel Advisors LLC grew its stake in shares of Weibo by 331.3% during the fourth quarter. Parallel Advisors LLC now owns 828 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 636 shares during the last quarter. National Bank of Canada FI bought a new stake in shares of Weibo during the fourth quarter valued at approximately $6,428,000. Signaturefd LLC grew its stake in shares of Weibo by 102.3% during the fourth quarter. Signaturefd LLC now owns 1,384 shares of the information services provider’s stock valued at $43,000 after purchasing an additional 700 shares during the last quarter. Maxi Investments CY Ltd bought a new stake in shares of Weibo during the fourth quarter valued at approximately $6,116,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Weibo during the fourth quarter valued at approximately $143,502,000. 71.37% of the stock is owned by institutional investors.

Weibo Trading Up 2.3 %

WB opened at $20.47 on Wednesday. The firm’s fifty day moving average is $21.99 and its two-hundred day moving average is $25.59. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.27 and a current ratio of 2.27. The firm has a market cap of $4.84 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 1.64 and a beta of 0.78. Weibo Co. has a twelve month low of $18.56 and a twelve month high of $62.00.

Weibo (NASDAQ:WB – Get Rating) last issued its quarterly earnings data on Wednesday, June 1st. The information services provider reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. Weibo had a net margin of 13.62% and a return on equity of 14.51%. The business had revenue of $484.60 million for the quarter, compared to analyst estimates of $473.58 million. During the same period last year, the business posted $0.22 earnings per share. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. Equities research analysts anticipate that Weibo Co. will post 2.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WB. StockNews.com upgraded shares of Weibo from a “hold” rating to a “buy” rating in a report on Wednesday, July 13th. Benchmark cut their price objective on shares of Weibo from $56.00 to $39.00 in a report on Wednesday, June 1st. CLSA cut their price objective on shares of Weibo from $45.00 to $42.70 and set a “buy” rating on the stock in a report on Wednesday, May 18th. HSBC cut their price objective on shares of Weibo from $31.00 to $26.00 and set a “hold” rating on the stock in a report on Thursday, June 2nd. Finally, The Goldman Sachs Group began coverage on shares of Weibo in a report on Sunday, April 10th. They issued a “hold” rating and a $37.50 price objective on the stock. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $39.33.

Weibo Profile

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