Citigroup Inc. Trims Stake in Weibo Corporation $WB

Citigroup Inc. reduced its stake in Weibo Corporation (NASDAQ:WB) by 41.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 147,507 shares of the information services provider’s stock after selling 103,130 shares during the quarter. Citigroup Inc. owned approximately 0.06% of Weibo worth $1,829,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of WB. Daiwa Securities Group Inc. bought a new stake in Weibo during the 2nd quarter worth approximately $61,000. Savant Capital LLC bought a new position in shares of Weibo in the third quarter worth approximately $153,000. AQR Capital Management LLC purchased a new stake in shares of Weibo in the first quarter worth $117,000. Vest Financial LLC purchased a new stake in shares of Weibo in the third quarter worth $176,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of Weibo during the 2nd quarter valued at $136,000. 68.77% of the stock is currently owned by hedge funds and other institutional investors.

Weibo Price Performance

NASDAQ:WB opened at $9.54 on Monday. The business’s 50-day moving average is $10.37 and its 200 day moving average is $10.86. Weibo Corporation has a 12 month low of $7.10 and a 12 month high of $12.96. The company has a market capitalization of $2.33 billion, a P/E ratio of 5.42, a P/E/G ratio of 5.11 and a beta of 0.13. The company has a current ratio of 3.35, a quick ratio of 3.35 and a debt-to-equity ratio of 0.48.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Weibo in a report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Weibo has an average rating of “Moderate Buy” and an average price target 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.