Geode Capital Management LLC Has $2.25 Million Stock Holdings in Weibo Co. (NASDAQ:WB)

Geode Capital Management LLC lifted its position in shares of Weibo Co. (NASDAQ:WB - Free Report) by 78.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 223,447 shares of the information services provider's stock after buying an additional 98,017 shares during the quarter. Geode Capital Management LLC owned approximately 0.10% of Weibo worth $2,252,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Acadian Asset Management LLC raised its stake in Weibo by 204.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,433,509 shares of the information services provider's stock valued at $18,678,000 after purchasing an additional 1,634,230 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Weibo in the second quarter valued at approximately $1,398,000. Krane Funds Advisors LLC lifted its stake in shares of Weibo by 17.4% during the second quarter. Krane Funds Advisors LLC now owns 3,803,752 shares of the information services provider's stock valued at $29,213,000 after buying an additional 564,068 shares during the period. Hsbc Holdings PLC boosted its position in Weibo by 42.1% during the second quarter. Hsbc Holdings PLC now owns 59,890 shares of the information services provider's stock worth $460,000 after acquiring an additional 17,749 shares during the last quarter. Finally, Seven Eight Capital LP purchased a new stake in Weibo in the 2nd quarter worth approximately $110,000. 68.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WB. Benchmark reiterated a "hold" rating on shares of Weibo in a report on Wednesday, November 20th. StockNews.com raised shares of Weibo from a "hold" rating to a "buy" rating in a research note on Friday, December 6th. Finally, Citigroup boosted their price objective on shares of Weibo from $11.00 to $12.00 and gave the company a "buy" rating in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $10.23.

Weibo Stock Down 1.7 %

WB traded down $0.16 during midday trading on Wednesday, hitting $9.12. 935,951 shares of the company's stock traded hands, compared to its average volume of 1,043,440. The company has a market cap of $2.14 billion, a PE ratio of 6.25 and a beta of 0.26. Weibo Co. has a one year low of $7.03 and a one year high of $12.40. The stock's fifty day simple moving average is $9.42 and its 200-day simple moving average is $8.72. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.57 and a quick ratio of 3.57.

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.