Weibo Co. (NASDAQ:WB) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lowered its stake in shares of Weibo Co. (NASDAQ:WBGet Rating) by 37.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,218,397 shares of the information services provider’s stock after selling 1,903,031 shares during the period. Price T Rowe Associates Inc. MD owned approximately 1.36% of Weibo worth $55,035,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Federated Hermes Inc. increased its stake in Weibo by 26.6% during the third quarter. Federated Hermes Inc. now owns 3,944,506 shares of the information services provider’s stock worth $67,451,000 after purchasing an additional 828,636 shares during the period. Bank of New York Mellon Corp lifted its holdings in Weibo by 9.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 108,999 shares of the information services provider’s stock worth $1,864,000 after buying an additional 9,477 shares in the last quarter. BlackRock Inc. boosted its position in Weibo by 3.9% in the 3rd quarter. BlackRock Inc. now owns 3,268,963 shares of the information services provider’s stock valued at $55,898,000 after buying an additional 122,879 shares during the period. Nuveen Asset Management LLC grew its stake in shares of Weibo by 10.2% in the third quarter. Nuveen Asset Management LLC now owns 108,898 shares of the information services provider’s stock worth $1,862,000 after acquiring an additional 10,100 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Weibo by 130.1% during the third quarter. Canada Pension Plan Investment Board now owns 511,785 shares of the information services provider’s stock worth $8,752,000 after acquiring an additional 289,400 shares during the period. Institutional investors and hedge funds own 27.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on WB. The Goldman Sachs Group raised Weibo from a “neutral” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Sunday, January 8th. StockNews.com upgraded shares of Weibo from a “hold” rating to a “buy” rating in a research note on Thursday, March 2nd. Finally, JPMorgan Chase & Co. started coverage on shares of Weibo in a research report on Monday, January 30th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $29.72.

Weibo Price Performance

Shares of NASDAQ:WB opened at $16.57 on Tuesday. Weibo Co. has a 12 month low of $10.02 and a 12 month high of $28.40. The firm has a market capitalization of $3.92 billion, a P/E ratio of 46.03, a P/E/G ratio of 0.78 and a beta of 0.52. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.73 and a quick ratio of 2.33. The company’s fifty day moving average price is $21.17 and its 200 day moving average price is $17.88.

Weibo Profile

(Get Rating)

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.

Further Reading

Institutional Ownership by Quarter for Weibo (NASDAQ:WB)

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