Allspring Global Investments Holdings LLC lowered its holdings in shares of Weibo Co. (NASDAQ:WB - Free Report) by 34.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,725,012 shares of the information services provider's stock after selling 922,013 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Weibo were worth $16,474,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. grew its stake in Weibo by 155.2% in the 4th quarter. Blue Trust Inc. now owns 2,700 shares of the information services provider's stock valued at $27,000 after buying an additional 1,642 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in Weibo in the 4th quarter valued at $70,000. Creative Planning acquired a new position in Weibo in the 3rd quarter valued at $112,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Weibo by 17.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,261 shares of the information services provider's stock valued at $134,000 after buying an additional 1,970 shares during the last quarter. Finally, Caprock Group LLC acquired a new position in Weibo in the 4th quarter valued at $229,000. 68.77% of the stock is currently owned by institutional investors and hedge funds.
Weibo Price Performance
Shares of Weibo stock traded down $0.33 during trading on Wednesday, hitting $10.50. 1,512,916 shares of the company's stock traded hands, compared to its average volume of 1,178,016. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.57 and a quick ratio of 3.57. The firm's fifty day moving average price is $9.92 and its 200 day moving average price is $9.15. Weibo Co. has a twelve month low of $7.03 and a twelve month high of $12.40. The company has a market cap of $2.55 billion, a PE ratio of 7.19 and a beta of 0.26.
Analyst Upgrades and Downgrades
WB has been the topic of several research analyst reports. StockNews.com upgraded shares of Weibo from a "hold" rating to a "buy" rating in a research report on Friday, December 6th. Benchmark restated a "hold" rating on shares of Weibo in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $10.28.
Read Our Latest Stock Report on WB
Weibo Company Profile
(
Free Report)
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.
Further Reading
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