Weibo Corporation $WB Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. significantly reduced its stake in Weibo Corporation by 70.3%, selling over a million shares and now owning approximately 0.21% of the company valued at $4.84 million.
• Weibo has received mixed ratings from analysts, with Citigroup maintaining a "buy" rating and increasing its target price to $14.00, while Wall Street Zen downgraded it to a "hold."
• Weibo reported an earnings per share (EPS) of $0.54 for the last quarter, exceeding estimates, and recorded a revenue increase of 1.6% year-over-year.

Invesco Ltd. lessened its holdings in Weibo Corporation (NASDAQ:WB - Free Report) by 70.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 511,085 shares of the information services provider's stock after selling 1,208,089 shares during the quarter. Invesco Ltd. owned 0.21% of Weibo worth $4,840,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Shell Asset Management Co. acquired a new stake in Weibo in the fourth quarter worth about $54,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Weibo by 22.4% in the first 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 last quarter. Public Employees Retirement Association of Colorado purchased a new position in shares of Weibo in the fourth quarter worth about $133,000. Kathmere Capital Management LLC purchased a new position in shares of Weibo in the first quarter worth about $147,000. Finally, Ameriprise Financial Inc. raised its stake in shares of Weibo by 26.5% in the fourth 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 last quarter. Institutional investors and hedge funds own 68.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WB. Wall Street Zen cut Weibo from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Citigroup raised their price objective on Weibo from $12.00 to $14.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $14.00.

Weibo Trading Down 1.7%

NASDAQ WB traded down $0.19 on Tuesday, reaching $11.27. 531,751 shares of the company were exchanged, compared to its average volume of 1,403,478. The business's fifty day moving average price is $10.30 and its 200 day moving average price is $9.64. The stock has a market capitalization of $2.73 billion, a P/E ratio of 7.88 and a beta of 0.08. The company has a current ratio of 3.65, a quick ratio of 3.65 and a debt-to-equity ratio of 0.31. Weibo Corporation has a fifty-two week low of $7.03 and a fifty-two week high of $12.40.

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

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.