Canada Pension Plan Investment Board Trims Position in Weibo Corporation $WB

Key Points

• The Canada Pension Plan Investment Board reduced its stake in Weibo Corporation by 14.3%, owning 554,600 shares valued at $5.25 million after selling 92,300 shares in the first quarter.
• Weibo reported a net margin of 21.10% and earnings per share (EPS) of $0.54 for the most recent quarter, significantly exceeding analyst expectations of $0.27.
• Several institutional investors, including Zurcher Kantonalbank and Bridgefront Capital LLC, have increased their positions in Weibo by up to 72.2% in recent months, with institutional ownership now at 68.77%.

Canada Pension Plan Investment Board decreased its position in shares of Weibo Corporation (NASDAQ:WB - Free Report) by 14.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 554,600 shares of the information services provider's stock after selling 92,300 shares during the quarter. Canada Pension Plan Investment Board owned 0.23% of Weibo worth $5,252,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in WB. RPD Fund Management LLC acquired a new stake in shares of Weibo during the 4th quarter worth approximately $19,115,000. Wellington Management Group LLP grew its stake in shares of Weibo by 1,641.9% during the 4th quarter. Wellington Management Group LLP now owns 1,048,522 shares of the information services provider's stock worth $10,013,000 after purchasing an additional 988,327 shares during the period. Krane Funds Advisors LLC grew its stake in shares of Weibo by 25.1% during the 1st quarter. Krane Funds Advisors LLC now owns 4,332,687 shares of the information services provider's stock worth $41,031,000 after purchasing an additional 868,643 shares during the period. Woodline Partners LP acquired a new stake in shares of Weibo during the 4th quarter worth approximately $6,853,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Weibo during the 4th quarter worth approximately $3,683,000. Institutional investors and hedge funds own 68.77% of the company's stock.

Weibo Price Performance

WB stock traded up $0.61 during midday trading on Tuesday, reaching $12.13. The stock had a trading volume of 1,040,234 shares, compared to its average volume of 1,358,751. The company's fifty day simple moving average is $10.46 and its 200 day simple moving average is $9.65. The company has a current ratio of 3.65, a quick ratio of 3.65 and a debt-to-equity ratio of 0.31. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 8.51 and a beta of 0.08. Weibo Corporation has a 52-week low of $7.09 and a 52-week high of $12.40.

Weibo (NASDAQ:WB - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The information services provider reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.27. The company had revenue of $444.80 million for the quarter, compared to analyst estimates of $438.84 million. Weibo had a return on equity of 12.65% and a net margin of 21.10%.The firm's revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.48 EPS. As a group, sell-side analysts predict that Weibo Corporation will post 1.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

WB has been the topic of a number of research analyst reports. Citigroup lifted their price target on shares of Weibo from $12.00 to $14.00 and gave the company a "buy" rating in a research note on Friday, August 15th. Wall Street Zen cut shares of Weibo from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $14.00.

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.