Weibo Corporation $WB Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lessened its holdings in Weibo Corporation (NASDAQ:WB) by 29.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,133,467 shares of the information services provider’s stock after selling 907,059 shares during the quarter. Federated Hermes Inc. owned 0.88% of Weibo worth $20,332,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. AQR Capital Management LLC purchased a new position in shares of Weibo in the 1st quarter valued at approximately $117,000. Fox Run Management L.L.C. purchased a new stake in Weibo during the 2nd quarter worth approximately $136,000. Vanguard Personalized Indexing Management LLC increased its stake in Weibo by 85.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 18,815 shares of the information services provider’s stock valued at $179,000 after purchasing an additional 8,694 shares in the last quarter. Vise Technologies Inc. purchased a new position in shares of Weibo in the second quarter worth $179,000. Finally, Kathmere Capital Management LLC raised its holdings in shares of Weibo by 31.7% in the second quarter. Kathmere Capital Management LLC now owns 20,455 shares of the information services provider’s stock worth $195,000 after buying an additional 4,928 shares during the last quarter. Hedge funds and other institutional investors own 68.77% of the company’s stock.

Wall Street Analysts Forecast Growth

WB has been the topic of a number of research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Weibo in a report on Wednesday, October 8th. Citigroup boosted their price target on Weibo from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, August 15th. Finally, Wall Street Zen cut Weibo from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $14.00.

Weibo Stock Down 2.4%

Shares of WB opened at $9.99 on Wednesday. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 5.68, a PEG ratio of 4.97 and a beta of 0.13. Weibo Corporation has a 52 week low of $7.10 and a 52 week high of $12.96. The stock’s 50-day moving average price is $10.88 and its 200-day moving average price is $10.65. The company has a quick ratio of 3.35, a current ratio of 3.35 and a debt-to-equity ratio of 0.48.

Weibo (NASDAQ:WB) last announced its quarterly earnings results on Tuesday, November 18th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). Weibo had a net margin of 26.58% and a return on equity of 11.79%. The company had revenue of $442.31 million during the quarter, compared to analyst estimates of $447.88 million. During the same period in the previous year, the firm posted $0.53 earnings per share. The company’s revenue was down 4.8% compared to the same quarter last year. On average, sell-side analysts predict that Weibo Corporation will post 1.62 EPS for the current year.

Weibo Profile

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, discover, and distribute 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.