National Bank of Canada FI Purchases 289,999 Shares of Weibo Corporation $WB

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 increased its position in Weibo Corporation (NASDAQ:WB - Free Report) by 28,999,900.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 290,000 shares of the information services provider's stock after buying an additional 289,999 shares during the quarter. National Bank of Canada FI owned 0.12% of Weibo worth $2,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Shell Asset Management Co. acquired a new position in shares of Weibo in the fourth quarter valued at approximately $54,000. Zurcher Kantonalbank Zurich Cantonalbank increased 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 valued at $110,000 after buying an additional 2,135 shares during the period. Public Employees Retirement Association of Colorado acquired a new position in shares of Weibo in the fourth quarter valued at approximately $133,000. Kathmere Capital Management LLC acquired a new position in shares of Weibo in the first quarter valued at approximately $147,000. Finally, Ameriprise Financial Inc. increased its position in 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 purchasing an additional 3,307 shares during the period. Institutional investors and hedge funds own 68.77% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on WB shares. Wall Street Zen downgraded shares of Weibo from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Citigroup increased their target price on shares of Weibo from $12.00 to $14.00 and gave the company a "buy" rating in a research report on Friday. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Weibo has a consensus rating of "Hold" and a consensus target price of $10.75.

Weibo Trading Down 4.1%

Shares of Weibo stock traded down $0.4950 on Tuesday, reaching $11.4450. 932,202 shares of the company's stock were exchanged, compared to its average volume of 1,381,920. The company has a market capitalization of $2.78 billion, a P/E ratio of 8.00 and a beta of 0.10. Weibo Corporation has a 52 week low of $7.03 and a 52 week high of $12.40. The firm's 50-day moving average is $9.92 and its two-hundred day moving average is $9.58. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.72 and a current ratio of 2.72.

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