Franklin Resources Inc. Purchases 3,884 Shares of Weibo Co. (NASDAQ:WB)

Franklin Resources Inc. lifted its position in shares of Weibo Co. (NASDAQ:WB) by 16.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 27,464 shares of the information services provider’s stock after purchasing an additional 3,884 shares during the quarter. Franklin Resources Inc.’s holdings in Weibo were worth $266,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Acadian Asset Management LLC lifted its stake in shares of Weibo by 204.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,433,509 shares of the information services provider’s stock valued at $18,678,000 after acquiring an additional 1,634,230 shares during the last quarter. Krane Funds Advisors LLC lifted its position in Weibo by 17.4% in the second quarter. Krane Funds Advisors LLC now owns 3,803,752 shares of the information services provider’s stock valued at $29,213,000 after purchasing an additional 564,068 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Weibo by 64.1% during the second quarter. Canada Pension Plan Investment Board now owns 1,309,385 shares of the information services provider’s stock valued at $10,056,000 after purchasing an additional 511,248 shares during the period. Polunin Capital Partners Ltd bought a new position in shares of Weibo in the third quarter worth approximately $5,064,000. Finally, Citigroup Inc. increased its stake in shares of Weibo by 347.3% in the third quarter. Citigroup Inc. now owns 602,853 shares of the information services provider’s stock worth $6,077,000 after buying an additional 468,072 shares during the period. Institutional investors own 68.77% of the company’s stock.

Weibo Trading Up 0.1 %

WB opened at $9.55 on Thursday. The company has a quick ratio of 3.57, a current ratio of 3.57 and a debt-to-equity ratio of 0.51. Weibo Co. has a 52 week low of $7.03 and a 52 week high of $12.40. The stock has a market cap of $2.24 billion, a PE ratio of 6.54 and a beta of 0.27. The business has a 50 day moving average of $9.43 and a 200-day moving average of $8.68.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on WB shares. Citigroup raised their price target on shares of Weibo from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Monday, September 30th. StockNews.com raised Weibo from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Finally, Benchmark reaffirmed a “hold” rating on shares of Weibo in a research report on Wednesday, November 20th. 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 company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $10.23.

Weibo 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.