New York State Common Retirement Fund Has $6.28 Million Position in Weibo Corporation $WB

New York State Common Retirement Fund cut its position in Weibo Corporation (NASDAQ:WB) by 9.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 506,149 shares of the information services provider’s stock after selling 54,600 shares during the quarter. New York State Common Retirement Fund owned 0.21% of Weibo worth $6,276,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Daiwa Securities Group Inc. bought a new position in Weibo in the 2nd quarter valued at approximately $61,000. AQR Capital Management LLC bought a new stake in Weibo during the 1st quarter worth approximately $117,000. Fox Run Management L.L.C. acquired a new position in Weibo in the 2nd quarter valued at approximately $136,000. CANADA LIFE ASSURANCE Co bought a new position in shares of Weibo during the second quarter valued at $155,000. Finally, Marex Group plc acquired a new position in shares of Weibo during the second quarter worth $169,000. 68.77% of the stock is currently owned by institutional investors.

Weibo Price Performance

WB stock opened at $9.96 on Friday. The company has a quick ratio of 3.35, a current ratio of 3.35 and a debt-to-equity ratio of 0.48. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 5.66, a PEG ratio of 5.29 and a beta of 0.15. The company’s fifty day simple moving average is $10.45 and its 200 day simple moving average is $10.89. Weibo Corporation has a 12-month low of $7.10 and a 12-month high of $12.96.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on WB shares. Wall Street Zen downgraded Weibo from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Weibo in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Weibo Company 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.