Allspring Global Investments Holdings LLC Cuts Holdings in Weibo Corporation (NASDAQ:WB)

Allspring Global Investments Holdings LLC decreased its holdings in Weibo Corporation (NASDAQ:WB - Free Report) by 66.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 572,145 shares of the information services provider's stock after selling 1,152,867 shares during the period. Allspring Global Investments Holdings LLC owned about 0.24% of Weibo worth $5,418,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of WB. SIH Partners LLLP boosted its stake in Weibo by 8.0% in the 4th quarter. SIH Partners LLLP now owns 20,200 shares of the information services provider's stock worth $193,000 after purchasing an additional 1,500 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Weibo by 9.2% in the fourth quarter. Franklin Resources Inc. now owns 29,986 shares of the information services provider's stock worth $286,000 after buying an additional 2,522 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Weibo by 26.5% during the fourth quarter. Ameriprise Financial Inc. now owns 15,780 shares of the information services provider's stock worth $151,000 after buying an additional 3,307 shares during the period. Shell Asset Management Co. purchased a new stake in shares of Weibo during the fourth quarter valued at $54,000. Finally, Bridgefront Capital LLC grew its holdings in shares of Weibo by 50.7% during the fourth quarter. Bridgefront Capital LLC now owns 23,403 shares of the information services provider's stock valued at $223,000 after buying an additional 7,869 shares during the last quarter. Hedge funds and other institutional investors own 68.77% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Weibo from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $9.75.

Weibo Price Performance

NASDAQ:WB opened at $9.47 on Friday. Weibo Corporation has a 52 week low of $7.03 and a 52 week high of $12.40. The stock's fifty day moving average is $9.12 and its two-hundred day moving average is $9.46. The company has a market capitalization of $2.30 billion, a P/E ratio of 6.86 and a beta of 0.11. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.53.

Weibo (NASDAQ:WB - Get Free Report) last announced its earnings results on Wednesday, May 21st. The information services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.07. Weibo had a return on equity of 12.29% and a net margin of 20.41%. The company had revenue of $396.86 million for the quarter, compared to analyst estimates of $394.21 million. During the same quarter in the previous year, the company earned $0.41 earnings per share. The firm's quarterly revenue was up .4% compared to the same quarter last year. Equities analysts expect that Weibo Corporation will post 1.62 EPS for the current year.

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.

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