Allspring Global Investments Holdings LLC Has $38.97 Million Stock Holdings in Weibo Co. (NASDAQ:WB)

Allspring Global Investments Holdings LLC trimmed its stake in shares of Weibo Co. (NASDAQ:WB) by 2.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,287,046 shares of the information services provider’s stock after selling 110,293 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Weibo were worth $38,969,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Truist Financial Corp bought a new stake in shares of Weibo in the 4th quarter worth about $117,000. abrdn plc increased its holdings in shares of Weibo by 59.4% during the fourth quarter. abrdn plc now owns 18,665 shares of the information services provider’s stock worth $204,000 after buying an additional 6,955 shares in the last quarter. DGS Capital Management LLC increased its holdings in shares of Weibo by 42.1% during the fourth quarter. DGS Capital Management LLC now owns 23,121 shares of the information services provider’s stock worth $253,000 after buying an additional 6,850 shares in the last quarter. AJOVista LLC acquired a new position in shares of Weibo in the 4th quarter worth approximately $351,000. Finally, Quadrature Capital Ltd boosted its holdings in shares of Weibo by 38.2% in the 3rd quarter. Quadrature Capital Ltd now owns 32,887 shares of the information services provider’s stock worth $413,000 after acquiring an additional 9,093 shares in the last quarter. 68.77% of the stock is owned by institutional investors and hedge funds.

Weibo Stock Performance

Shares of NASDAQ:WB opened at $8.32 on Friday. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.57. Weibo Co. has a 1-year low of $7.58 and a 1-year high of $16.02. The stock has a market capitalization of $1.95 billion, a P/E ratio of 6.99, a P/E/G ratio of 1.40 and a beta of 0.21. The business has a 50-day moving average price of $8.74 and a two-hundred day moving average price of $8.99.

Weibo (NASDAQ:WB) last posted its quarterly earnings results on Thursday, May 23rd. The information services provider reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Weibo had a net margin of 16.74% and a return on equity of 10.92%. The business had revenue of $395.50 million during the quarter, compared to the consensus estimate of $396.50 million. Equities analysts predict that Weibo Co. will post 1.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WB. The Goldman Sachs Group reiterated a “neutral” rating and issued a $10.60 price objective on shares of Weibo in a research report on Thursday, March 28th. UBS Group upgraded shares of Weibo from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $12.90 to $11.50 in a research report on Tuesday, March 19th. Morgan Stanley lowered shares of Weibo from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $11.00 to $10.00 in a report on Friday, May 17th. Finally, HSBC dropped their target price on shares of Weibo from $13.60 to $9.80 and set a “hold” rating for the company in a research note on Friday, March 15th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $11.65.

Weibo Company Profile

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.