Allianz Asset Management GmbH Grows Position in Weibo Corporation $WB

Allianz Asset Management GmbH raised its position in Weibo Corporation (NASDAQ:WB) by 537.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 132,645 shares of the information services provider’s stock after acquiring an additional 111,821 shares during the period. Allianz Asset Management GmbH owned approximately 0.05% of Weibo worth $1,645,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the business. Daiwa Securities Group Inc. acquired a new stake in shares of Weibo in the 2nd quarter worth $61,000. AQR Capital Management LLC purchased a new stake in Weibo in the first quarter valued at about $117,000. Vest Financial LLC purchased a new stake in Weibo in the third quarter valued at about $176,000. Fox Run Management L.L.C. acquired a new stake in Weibo in the second quarter worth about $136,000. Finally, CANADA LIFE ASSURANCE Co purchased a new stake in shares of Weibo during the second quarter worth about $155,000. 68.77% of the stock is owned by institutional investors and hedge funds.

Weibo Stock Performance

NASDAQ WB opened at $9.96 on Friday. The firm has a market capitalization of $2.43 billion, a P/E ratio of 5.66, a PEG ratio of 5.29 and a beta of 0.15. The stock has a 50-day simple moving average of $10.44 and a two-hundred day simple moving average of $10.89. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.35 and a current ratio of 3.35. Weibo Corporation has a fifty-two week low of $7.10 and a fifty-two week high of $12.96.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Weibo in a research report on Wednesday, January 21st. Wall Street Zen lowered shares of Weibo from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. One 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

Weibo Profile

Weibo Corporation operates one of China’s leading social media and microblogging platforms under the brand name Weibo. Launched in August 2009 by Sina Corporation, Weibo enables users to create, share and engage with short-form posts in real time. The platform supports text, images, videos and live streams, and offers features such as trending topics, hashtag campaigns and public discussion forums to facilitate user interaction and content discovery.

Weibo’s product suite extends beyond basic social networking to include digital content services such as live streaming, online games, value-added messaging and e-commerce integrations.