Weibo Co. (NASDAQ:WB) Stake Lowered by Krane Funds Advisors LLC

Krane Funds Advisors LLC cut its stake in Weibo Co. (NASDAQ:WB) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,144,818 shares of the information services provider’s stock after selling 44,176 shares during the quarter. Weibo makes up 1.4% of Krane Funds Advisors LLC’s portfolio, making the stock its 13th biggest holding. Krane Funds Advisors LLC owned 1.34% of Weibo worth $34,436,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Profund Advisors LLC acquired a new stake in shares of Weibo during the 3rd quarter valued at about $133,000. Truist Financial Corp acquired a new stake in Weibo in the fourth quarter valued at approximately $117,000. abrdn plc lifted its stake in Weibo by 59.4% in the fourth quarter. abrdn plc now owns 18,665 shares of the information services provider’s stock valued at $204,000 after acquiring an additional 6,955 shares during the last quarter. DGS Capital Management LLC grew its position in Weibo by 42.1% in the fourth quarter. DGS Capital Management LLC now owns 23,121 shares of the information services provider’s stock worth $253,000 after acquiring an additional 6,850 shares in the last quarter. Finally, AJOVista LLC acquired a new position in shares of Weibo during the 4th quarter worth $351,000. 68.77% of the stock is currently owned by hedge funds and other institutional investors.

Weibo Stock Performance

Shares of WB traded down $0.30 during mid-day trading on Friday, hitting $8.10. The company’s stock had a trading volume of 2,215,199 shares, compared to its average volume of 2,107,002. The stock’s 50-day moving average is $8.77 and its two-hundred day moving average is $9.15. The firm has a market capitalization of $1.90 billion, a PE ratio of 6.81, a price-to-earnings-growth ratio of 1.36 and a beta of 0.24. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.24 and a current ratio of 2.24. Weibo Co. has a one year low of $7.58 and a one year high of $16.02.

Weibo (NASDAQ:WB) last announced its quarterly earnings data on Thursday, March 14th. The information services provider reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.14). Weibo had a net margin of 16.74% and a return on equity of 10.92%. The company had revenue of $463.67 million for the quarter, compared to analyst estimates of $452.30 million. As a group, sell-side analysts anticipate that Weibo Co. will post 1.48 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WB. Morgan Stanley cut 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. UBS Group upgraded Weibo from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $12.90 to $11.50 in a report on Tuesday, March 19th. The Goldman Sachs Group reiterated a “neutral” rating and set a $10.60 price target on shares of Weibo in a report on Thursday, March 28th. Finally, HSBC reduced their price objective 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 equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Weibo currently has a consensus rating of “Hold” and a consensus target price of $11.65.

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.