Invesco Ltd. Decreases Position in Weibo Corporation $WB

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. decreased its holdings in shares of Weibo Corporation (NASDAQ:WB - Free Report) by 70.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of WB. Shell Asset Management Co. purchased a new position in shares of Weibo during the 4th quarter valued at about $54,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Weibo by 22.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,653 shares of the information services provider's stock valued at $110,000 after buying an additional 2,135 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new position in shares of Weibo during the 4th quarter valued at about $133,000. Kathmere Capital Management LLC purchased a new position in shares of Weibo during the 1st quarter valued at about $147,000. Finally, Ameriprise Financial Inc. raised its holdings in shares of Weibo by 26.5% during 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 in the last quarter. Hedge funds and other institutional investors own 68.77% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WB. Wall Street Zen cut Weibo from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Citigroup increased their target price on Weibo from $12.00 to $14.00 and gave the company a "buy" rating in a report on Friday, August 15th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $14.00.

Weibo Stock Up 2.6%

WB traded up $0.29 on Friday, hitting $11.46. The company had a trading volume of 959,712 shares, compared to its average volume of 1,401,901. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.65 and a quick ratio of 3.65. Weibo Corporation has a 52-week low of $7.03 and a 52-week high of $12.40. The stock has a fifty day simple moving average of $10.23 and a 200-day simple moving average of $9.63. The firm has a market capitalization of $2.78 billion, a P/E ratio of 8.01 and a beta of 0.10.

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

About Weibo

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.