California Public Employees Retirement System Trims Stake in Weibo Co. (NASDAQ:WB)

California Public Employees Retirement System cut its position in Weibo Co. (NASDAQ:WB – Get Rating) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 153,983 shares of the information services provider’s stock after selling 4,016 shares during the period. California Public Employees Retirement System owned about 0.07% of Weibo worth $2,944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of WB. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Weibo by 137.7% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 36,973 shares of the information services provider’s stock worth $887,000 after purchasing an additional 21,420 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Weibo by 18.5% during the first quarter. Envestnet Asset Management Inc. now owns 11,899 shares of the information services provider’s stock worth $292,000 after acquiring an additional 1,861 shares during the last quarter. Advisor Group Holdings Inc. boosted its position in shares of Weibo by 88.9% during the first quarter. Advisor Group Holdings Inc. now owns 1,383 shares of the information services provider’s stock worth $35,000 after acquiring an additional 651 shares during the last quarter. US Bancorp DE boosted its position in shares of Weibo by 124.7% during the first quarter. US Bancorp DE now owns 5,512 shares of the information services provider’s stock worth $135,000 after acquiring an additional 3,059 shares during the last quarter. Finally, BlackRock Inc. boosted its position in shares of Weibo by 6.3% during the first quarter. BlackRock Inc. now owns 2,898,674 shares of the information services provider’s stock worth $71,044,000 after acquiring an additional 171,508 shares during the last quarter. 27.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WB has been the subject of a number of research reports. StockNews.com initiated coverage on shares of Weibo in a research report on Thursday. They set a “buy” rating for the company. JPMorgan Chase & Co. initiated coverage on shares of Weibo in a research report on Monday, January 30th. They set a “neutral” rating for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $27.90.

Weibo Price Performance

WB stock opened at $16.80 on Friday. Weibo Co. has a 52 week low of $10.02 and a 52 week high of $25.57. The company has a quick ratio of 3.73, a current ratio of 3.73 and a debt-to-equity ratio of 0.72. The company has a fifty day simple moving average of $17.28 and a two-hundred day simple moving average of $18.18. The firm has a market capitalization of $3.93 billion, a P/E ratio of 46.67, a price-to-earnings-growth ratio of 0.80 and a beta of 0.51.

Weibo (NASDAQ:WB – Get Rating) last announced its earnings results on Wednesday, March 1st. The information services provider reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.21. Weibo had a net margin of 4.66% and a return on equity of 12.79%. The business had revenue of $448.00 million for the quarter, compared to the consensus estimate of $438.61 million. Analysts anticipate that Weibo Co. will post 1.86 earnings per share for the current fiscal year.

Weibo Company Profile

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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. The company was founded in August 2009 and is headquartered in Beijing, China.