Weibo Co. (NASDAQ:WB) Position Raised by Wellington Management Group LLP

Wellington Management Group LLP lifted its position in shares of Weibo Co. (NASDAQ:WB) by 72.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 60,195 shares of the information services provider’s stock after acquiring an additional 25,189 shares during the period. Wellington Management Group LLP’s holdings in Weibo were worth $607,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of WB. Two Sigma Advisers LP increased its position in Weibo by 1.7% in the 3rd quarter. Two Sigma Advisers LP now owns 1,153,088 shares of the information services provider’s stock valued at $11,623,000 after acquiring an additional 19,200 shares during the period. State Street Corp grew its stake in shares of Weibo by 0.7% in the third quarter. State Street Corp now owns 931,749 shares of the information services provider’s stock worth $9,392,000 after purchasing an additional 6,369 shares in the last quarter. Quadrature Capital Ltd increased its holdings in shares of Weibo by 22.8% during the third quarter. Quadrature Capital Ltd now owns 40,464 shares of the information services provider’s stock valued at $408,000 after purchasing an additional 7,508 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Weibo by 60.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 282,199 shares of the information services provider’s stock valued at $2,845,000 after purchasing an additional 105,780 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Weibo by 98.0% in the third quarter. BNP Paribas Financial Markets now owns 83,106 shares of the information services provider’s stock worth $838,000 after purchasing an additional 41,137 shares during the period. Institutional investors and hedge funds own 68.77% of the company’s stock.

Weibo Trading Down 0.9 %

NASDAQ:WB opened at $9.76 on Friday. The stock has a fifty day simple moving average of $9.34 and a 200 day simple moving average of $8.60. The company has a quick ratio of 3.57, a current ratio of 3.57 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 6.68 and a beta of 0.27. Weibo Co. has a 1-year low of $7.03 and a 1-year high of $12.40.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Citigroup upped their price target on shares of Weibo from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Nomura Securities upgraded Weibo to a “hold” rating in a research report on Monday, August 26th. Benchmark reiterated a “hold” rating on shares of Weibo in a research report on Wednesday, November 20th. StockNews.com upgraded Weibo from a “hold” rating to a “buy” rating in a report on Friday, December 6th. Finally, Morgan Stanley lowered their target price on Weibo from $8.00 to $7.50 and set an “underweight” rating on the stock in a report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $10.23.

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.