Canada Pension Plan Investment Board Boosts Stock Holdings in Weibo Co. (NASDAQ:WB)

Canada Pension Plan Investment Board boosted its position in shares of Weibo Co. (NASDAQ:WB) by 64.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,309,385 shares of the information services provider’s stock after buying an additional 511,248 shares during the period. Canada Pension Plan Investment Board’s holdings in Weibo were worth $10,056,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its position in shares of Weibo by 199.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,075,326 shares of the information services provider’s stock valued at $33,675,000 after purchasing an additional 2,047,135 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Weibo by 204.5% in the second quarter. Acadian Asset Management LLC now owns 2,433,509 shares of the information services provider’s stock valued at $18,678,000 after purchasing an additional 1,634,230 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Weibo in the first quarter valued at approximately $7,435,000. Krane Funds Advisors LLC grew its position in shares of 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 in the last quarter. Finally, Ghisallo Capital Management LLC purchased a new stake in shares of Weibo in the fourth quarter valued at approximately $4,521,000. 68.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WB. Nomura Securities upgraded Weibo to a “hold” rating in a research report on Monday, August 26th. Morgan Stanley lowered their price objective on Weibo from $8.00 to $7.50 and set an “underweight” rating for the company in a research report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Weibo has a consensus rating of “Hold” and an average price target of $9.88.

Weibo Stock Up 11.6 %

NASDAQ:WB opened at $8.66 on Wednesday. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.55. The stock’s fifty day moving average is $7.66 and its two-hundred day moving average is $8.36. Weibo Co. has a 52 week low of $7.03 and a 52 week high of $13.54. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 7.28, a price-to-earnings-growth ratio of 1.22 and a beta of 0.22.

Weibo (NASDAQ:WB) last released its quarterly earnings results on Thursday, August 22nd. The information services provider reported $0.48 EPS for the quarter, topping 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 company had revenue of $437.90 million for the quarter, compared to analysts’ expectations of $437.97 million. During the same period in the prior year, the firm earned $0.42 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. Research analysts anticipate that Weibo Co. will post 1.48 EPS for the current year.

About Weibo

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.