Weibo Co. (NASDAQ:WB) Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lifted its holdings in Weibo Co. (NASDAQ:WB - Free Report) by 64.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,309,385 shares of the information services provider's stock after purchasing an additional 511,248 shares during the quarter. Canada Pension Plan Investment Board owned 0.56% of Weibo worth $10,056,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hsbc Holdings PLC grew its position in Weibo by 226.3% in the fourth quarter. Hsbc Holdings PLC now owns 246,841 shares of the information services provider's stock worth $2,703,000 after acquiring an additional 171,188 shares in the last quarter. Edmond DE Rothschild Holding S.A. boosted its holdings in shares of Weibo by 122.6% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 128,393 shares of the information services provider's stock worth $1,406,000 after purchasing an additional 70,720 shares during the period. Weiss Asset Management LP bought a new position in shares of Weibo during the 4th quarter valued at approximately $1,130,000. KBC Group NV raised its holdings in Weibo by 79.4% during the 4th quarter. KBC Group NV now owns 112,397 shares of the information services provider's stock valued at $1,231,000 after buying an additional 49,742 shares during the period. Finally, Ghisallo Capital Management LLC bought a new stake in Weibo in the fourth quarter worth $4,521,000. 68.77% of the stock is owned by hedge funds and other institutional investors.

Weibo Stock Down 3.2 %

Shares of WB traded down $0.28 during trading hours on Wednesday, hitting $8.38. The company had a trading volume of 1,999,754 shares, compared to its average volume of 1,927,031. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $1.96 billion, a PE ratio of 7.28, a price-to-earnings-growth ratio of 1.31 and a beta of 0.22. Weibo Co. has a one year low of $7.03 and a one year high of $13.54. The company's fifty day moving average price is $7.66 and its two-hundred day moving average price is $8.36.

Weibo (NASDAQ:WB - Get Free Report) last issued its quarterly earnings data on Thursday, August 22nd. The information services provider reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.10. The firm had revenue of $437.90 million for the quarter, compared to the consensus estimate of $437.97 million. Weibo had a net margin of 18.52% and a return on equity of 11.01%. The company's quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 EPS. As a group, equities analysts forecast that Weibo Co. will post 1.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on WB shares. Morgan Stanley decreased their price objective on shares of Weibo from $8.00 to $7.50 and set an "underweight" rating for the company in a research note on Friday, August 23rd. Nomura Securities raised Weibo to a "hold" rating in a research note on Monday, August 26th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $9.88.

About Weibo

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.