Allspring Global Investments Holdings LLC Has $5.42 Million Stock Holdings in Weibo Corporation (NASDAQ:WB)

Allspring Global Investments Holdings LLC cut its holdings in shares of Weibo Corporation (NASDAQ:WB - Free Report) by 66.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 SEC filing.

A number of other large investors have also recently added to or reduced their stakes in WB. Shell Asset Management Co. acquired a new position in Weibo in the fourth quarter valued at approximately $54,000. PARUS FINANCE UK Ltd bought a new stake in Weibo in the fourth quarter worth about $99,000. Virtu Financial LLC acquired a new stake in Weibo during the 4th quarter worth about $117,000. Public Employees Retirement Association of Colorado acquired a new position in Weibo in the 4th quarter worth approximately $133,000. Finally, Ameriprise Financial Inc. boosted its stake in Weibo by 26.5% in the 4th quarter. Ameriprise Financial Inc. now owns 15,780 shares of the information services provider's stock worth $151,000 after purchasing an additional 3,307 shares during the period. 68.77% of the stock is currently owned by institutional investors.

Weibo Trading Down 0.3%

NASDAQ WB traded down $0.03 during trading hours on Wednesday, hitting $9.74. The company's stock had a trading volume of 880,827 shares, compared to its average volume of 1,611,133. Weibo Corporation has a twelve month low of $7.03 and a twelve month high of $12.40. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $2.36 billion, a P/E ratio of 7.06 and a beta of 0.11. The stock has a fifty day moving average of $9.21 and a 200 day moving average of $9.46.

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

Wall Street Analysts Forecast Growth

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

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.