Weibo Co. (NASDAQ:WB) Shares Sold by Krane Funds Advisors LLC

Krane Funds Advisors LLC lessened its stake in shares of Weibo Co. (NASDAQ:WB - Free Report) by 5.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,592,492 shares of the information services provider's stock after selling 211,260 shares during the quarter. Weibo comprises approximately 1.3% of Krane Funds Advisors LLC's portfolio, making the stock its 13th biggest position. Krane Funds Advisors LLC owned about 1.53% of Weibo worth $36,212,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Deltec Asset Management LLC purchased a new position in shares of Weibo during the 2nd quarter worth approximately $82,000. Seven Eight Capital LP acquired a new position in Weibo during the second quarter worth $110,000. Creative Planning acquired a new stake in Weibo in the third quarter valued at $112,000. Bayesian Capital Management LP acquired a new stake in Weibo in the first quarter valued at $123,000. Finally, Diversified Trust Co purchased a new stake in shares of Weibo during the 3rd quarter worth $194,000. 68.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WB. Citigroup increased their price target on shares of Weibo from $11.00 to $12.00 and gave the company a "buy" rating in a report on Monday, September 30th. StockNews.com downgraded shares of Weibo from a "buy" rating to a "hold" rating in a research report on Thursday, October 17th. Nomura Securities upgraded Weibo to a "hold" rating in a report on Monday, August 26th. Finally, Morgan Stanley dropped their price objective on Weibo from $8.00 to $7.50 and set an "underweight" rating for the company in a research note on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $10.23.

Weibo Price Performance

WB stock traded up $0.23 on Tuesday, reaching $9.24. The company had a trading volume of 1,119,382 shares, compared to its average volume of 2,086,675. The company's fifty day moving average is $8.51 and its 200 day moving average is $8.45. The company has a market cap of $2.16 billion, a P/E ratio of 7.57, a PEG ratio of 1.53 and a beta of 0.23. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.34 and a current ratio of 2.34. Weibo Co. has a 1 year low of $7.03 and a 1 year high of $12.65.

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