Weibo Corporation $WB Shares Sold by Canada Pension Plan Investment Board

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

Other institutional investors have also recently added to or reduced their stakes in the company. Shell Asset Management Co. purchased a new stake in Weibo during the 4th quarter worth $54,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Weibo by 22.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,653 shares of the information services provider's stock worth $110,000 after purchasing an additional 2,135 shares during the period. Kathmere Capital Management LLC purchased a new stake in Weibo during the 1st quarter worth $147,000. Ameriprise Financial Inc. boosted its position in Weibo by 26.5% in the 4th quarter. Ameriprise Financial Inc. now owns 15,780 shares of the information services provider's stock valued at $151,000 after buying an additional 3,307 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Weibo in the 4th quarter valued at about $173,000. 68.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wall Street Zen cut shares of Weibo from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Citigroup upped their price objective on shares of Weibo from $12.00 to $14.00 and gave the company a "buy" rating in a research report on Friday, August 15th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Weibo currently has a consensus rating of "Moderate Buy" and an average target price of $14.00.

Weibo Stock Up 1.5%

Weibo stock traded up $0.17 during midday trading on Friday, hitting $11.71. The stock had a trading volume of 721,277 shares, compared to its average volume of 1,425,193. 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 stock has a market cap of $2.84 billion, a P/E ratio of 8.19 and a beta of 0.08. Weibo Corporation has a 12 month low of $7.03 and a 12 month high of $12.40. The business has a fifty day moving average price of $10.42 and a 200 day moving average price of $9.66.

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 the consensus estimate of $0.27 by $0.27. The firm had revenue of $444.80 million during 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%.Weibo's quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 earnings per share. Research analysts predict 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.