Hsbc Holdings PLC Buys 17,749 Shares of Weibo Co. (NASDAQ:WB)

Hsbc Holdings PLC raised its stake in Weibo Co. (NASDAQ:WB) by 42.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,890 shares of the information services provider’s stock after purchasing an additional 17,749 shares during the period. Hsbc Holdings PLC’s holdings in Weibo were worth $460,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Goldman Sachs Group Inc. grew its holdings in shares of Weibo by 199.1% during 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 buying an additional 2,047,135 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Weibo during the second quarter valued at about $1,398,000. Krane Funds Advisors LLC grew its holdings in shares of Weibo by 17.4% during 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 buying an additional 564,068 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Weibo by 65.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 119,025 shares of the information services provider’s stock valued at $1,082,000 after buying an additional 46,898 shares during the last quarter. Finally, Quadrature Capital Ltd grew its holdings in shares of Weibo by 47.8% during the fourth quarter. Quadrature Capital Ltd now owns 48,602 shares of the information services provider’s stock valued at $531,000 after buying an additional 15,715 shares during the last quarter. 68.77% of the stock is owned by institutional investors.

Weibo Stock Performance

NASDAQ WB opened at $10.80 on Wednesday. The company’s 50 day moving average is $7.79 and its 200-day moving average is $8.36. Weibo Co. has a 12-month low of $7.03 and a 12-month high of $13.54. 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 firm has a market cap of $2.53 billion, a P/E ratio of 9.08, a price-to-earnings-growth ratio of 1.67 and a beta of 0.22.

Weibo (NASDAQ:WB) last posted its earnings results on Thursday, August 22nd. The information services provider reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.10. The business had revenue of $437.90 million for the quarter, compared to analyst estimates of $437.97 million. Weibo had a net margin of 18.52% and a return on equity of 11.01%. Weibo’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.42 EPS. Sell-side analysts predict that Weibo Co. will post 1.48 earnings per share for the current year.

Analyst Ratings Changes

WB has been the topic of several analyst reports. Nomura Securities upgraded shares of Weibo to a “hold” rating in a report on Monday, August 26th. Citigroup boosted 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. Finally, Morgan Stanley cut their price target on shares of Weibo from $8.00 to $7.50 and set an “underweight” rating on the stock in a report on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company 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, 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.