Weibo Corporation (NASDAQ:WB) Shares Acquired by National Bank of Canada FI

Key Points

• National Bank of Canada FI increased its stake in Weibo Corporation by 28,999,900% in the first quarter, owning approximately 0.12% of the company, valued at $2.746 million.
• Weibo's recent quarterly earnings showed an EPS of $0.54, beating estimates, with revenue of $444.8 million, up 1.6% year-over-year.
• Currently, Wall Street analysts have given Weibo a consensus rating of "Hold" with a target price of $9.75, despite one analyst rating it as a "sell."

National Bank of Canada FI grew its stake in Weibo Corporation (NASDAQ:WB - Free Report) by 28,999,900.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 290,000 shares of the information services provider's stock after purchasing an additional 289,999 shares during the quarter. National Bank of Canada FI owned approximately 0.12% of Weibo worth $2,746,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of WB. RPD Fund Management LLC acquired a new stake in Weibo during the fourth quarter worth about $19,115,000. Wellington Management Group LLP raised its stake in Weibo by 1,641.9% during the fourth quarter. Wellington Management Group LLP now owns 1,048,522 shares of the information services provider's stock worth $10,013,000 after acquiring an additional 988,327 shares during the period. Krane Funds Advisors LLC grew its position in Weibo by 25.1% in 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 last quarter. Woodline Partners LP bought a new position in Weibo in the 4th quarter worth about $6,853,000. Finally, Invesco Ltd. grew its position in Weibo by 34.0% in the 4th quarter. Invesco Ltd. now owns 1,719,174 shares of the information services provider's stock worth $16,418,000 after purchasing an additional 436,215 shares during the last quarter. Institutional investors and hedge funds own 68.77% of the company's stock.

Weibo Price Performance

Shares of Weibo stock traded up $0.11 on Friday, hitting $11.55. The company had a trading volume of 2,779,490 shares, compared to its average volume of 1,020,865. The business has a 50-day simple moving average of $9.88 and a 200-day simple moving average of $9.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.72 and a quick ratio of 2.72. The company has a market cap of $2.80 billion, a PE ratio of 8.08 and a beta of 0.10. Weibo Corporation has a 52 week low of $7.03 and a 52 week high of $12.40.

Weibo (NASDAQ:WB - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The information services provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.27. The business had revenue of $444.80 million during the quarter, compared to analysts' expectations of $438.84 million. Weibo had a net margin of 21.10% and a return on equity of 12.74%. The business's revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm posted $0.48 earnings per share. Research analysts expect that Weibo Corporation will post 1.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on WB. 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 target price on shares of Weibo from $12.00 to $14.00 and gave the stock a "buy" rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Weibo has an average rating of "Hold" and a consensus target price of $10.75.

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.