Weibo Co. (NASDAQ:WB) Shares Acquired by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. grew its position in Weibo Co. (NASDAQ:WB) by 13.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 203,584 shares of the information services provider’s stock after acquiring an additional 24,000 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Weibo were worth $2,229,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of WB. UBS Group AG boosted its holdings in shares of Weibo by 1,360.0% in the third quarter. UBS Group AG now owns 2,268,124 shares of the information services provider’s stock valued at $28,442,000 after acquiring an additional 2,112,773 shares during the period. Krane Funds Advisors LLC lifted its holdings in shares of Weibo by 14.4% during the third quarter. Krane Funds Advisors LLC now owns 3,188,994 shares of the information services provider’s stock worth $39,990,000 after purchasing an additional 401,004 shares during the period. Long Corridor Asset Management Ltd lifted its holdings in shares of Weibo by 175.6% during the third quarter. Long Corridor Asset Management Ltd now owns 620,000 shares of the information services provider’s stock worth $7,775,000 after purchasing an additional 395,000 shares during the period. SeaTown Holdings Pte. Ltd. lifted its holdings in shares of Weibo by 75.0% during the third quarter. SeaTown Holdings Pte. Ltd. now owns 350,000 shares of the information services provider’s stock worth $4,389,000 after purchasing an additional 150,000 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in shares of Weibo by 3.0% during the third quarter. Federated Hermes Inc. now owns 5,111,144 shares of the information services provider’s stock worth $64,094,000 after purchasing an additional 146,856 shares during the period. 68.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on WB shares. Bank of America downgraded Weibo from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $19.50 to $10.00 in a report on Thursday, January 11th. StockNews.com downgraded Weibo from a “buy” rating to a “hold” rating in a report on Friday, January 19th. HSBC decreased their price target on Weibo from $13.60 to $9.80 and set a “hold” rating for the company in a report on Friday, March 15th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $10.60 price target on shares of Weibo in a report on Thursday, March 28th. Finally, UBS Group raised Weibo from a “neutral” rating to a “buy” rating and reduced their target price for the company from $12.90 to $11.50 in a report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $11.98.

Weibo Price Performance

Weibo stock opened at $8.53 on Thursday. Weibo Co. has a one year low of $7.58 and a one year high of $18.10. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 2.51. The business has a fifty day moving average of $8.94 and a two-hundred day moving average of $9.94. The company has a market cap of $2.00 billion, a P/E ratio of 6.01, a price-to-earnings-growth ratio of 1.23 and a beta of 0.44.

Weibo (NASDAQ:WB) last announced its quarterly earnings results on Thursday, March 14th. The information services provider reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.14). Weibo had a net margin of 19.47% and a return on equity of 10.77%. The firm had revenue of $463.67 million during the quarter, compared to analysts’ expectations of $452.30 million. As a group, analysts predict that Weibo Co. will post 1.64 earnings per share for the current fiscal year.

Weibo Cuts Dividend

The company also recently declared a — dividend, which will be paid on Monday, May 13th. Stockholders of record on Friday, April 12th will be given a $0.80 dividend. The ex-dividend date is Thursday, April 11th.

Weibo Profile

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