Krane Funds Advisors LLC Sells 3,767,540 Shares of Weibo Co. (NASDAQ:WB)

Krane Funds Advisors LLC lessened its stake in Weibo Co. (NASDAQ:WB - Free Report) by 99.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,212 shares of the information services provider's stock after selling 3,767,540 shares during the quarter. Weibo comprises 0.3% of Krane Funds Advisors LLC's investment portfolio, making the stock its 20th biggest position. Krane Funds Advisors LLC's holdings in Weibo were worth $365,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Goldman Sachs Group Inc. boosted its holdings in shares of Weibo by 199.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,075,326 shares of the information services provider's stock valued at $33,675,000 after purchasing an additional 2,047,135 shares in the last quarter. Quadrature Capital Ltd grew its position in Weibo by 47.8% in the fourth quarter. Quadrature Capital Ltd now owns 48,602 shares of the information services provider's stock valued at $531,000 after acquiring an additional 15,715 shares during the last quarter. DGS Capital Management LLC raised its stake in Weibo by 92.7% during the first quarter. DGS Capital Management LLC now owns 44,543 shares of the information services provider's stock worth $405,000 after acquiring an additional 21,422 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Weibo by 65.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 119,025 shares of the information services provider's stock worth $1,082,000 after acquiring an additional 46,898 shares in the last quarter. Finally, Capstone Investment Advisors LLC bought a new position in shares of Weibo in the first quarter worth about $681,000. Institutional investors own 68.77% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on WB. Citigroup upped their price objective on shares of Weibo from $11.00 to $12.00 and gave the stock a "buy" rating in a research report on Monday, September 30th. Morgan Stanley lowered their price target on shares of Weibo from $8.00 to $7.50 and set an "underweight" rating for the company in a report on Friday, August 23rd. Nomura Securities raised Weibo to a "hold" rating in a report on Monday, August 26th. Finally, StockNews.com lowered Weibo from a "buy" rating to a "hold" rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $10.23.

Weibo Trading Up 3.4 %

Shares of Weibo stock traded up $0.30 during trading on Friday, hitting $9.09. The company's stock had a trading volume of 1,809,441 shares, compared to its average volume of 2,098,671. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 7.83, a price-to-earnings-growth ratio of 1.63 and a beta of 0.23. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.34 and a quick ratio of 2.34. Weibo Co. has a 52 week low of $7.03 and a 52 week high of $12.65. The stock has a 50-day moving average price of $8.47 and a two-hundred day moving average price of $8.46.

Weibo (NASDAQ:WB - Get Free Report) last issued its quarterly earnings results on Thursday, August 22nd. The information services provider reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.10. The company had revenue of $437.90 million during the quarter, compared to analysts' expectations of $437.97 million. Weibo had a return on equity of 11.01% and a net margin of 18.52%. The business's quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.42 earnings per share. Equities research analysts anticipate that Weibo Co. will post 1.48 EPS for the current fiscal year.

Weibo Company 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.