Nuveen LLC Takes $690,000 Position in Weibo Corporation $WB

Key Points

• Nuveen LLC has acquired a new stake in Weibo Corporation, purchasing 72,900 shares valued at approximately $690,000.
• Several institutional investors have increased their holdings in Weibo, with Vontobel Holding Ltd. leading with a 72.2% increase in the first quarter.
• Weibo reported $0.54 earnings per share for its last quarter, surpassing analysts' expectations and indicating a year-over-year revenue growth of 1.6%.

Nuveen LLC purchased a new stake in Weibo Corporation (NASDAQ:WB - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 72,900 shares of the information services provider's stock, valued at approximately $690,000.

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

Weibo Price Performance

Shares of WB traded up $0.17 during mid-day trading on Friday, reaching $11.71. The company had a trading volume of 721,277 shares, compared to its average volume of 1,425,193. The company's 50 day simple moving average is $10.42 and its 200 day simple moving average is $9.66. The company has a debt-to-equity ratio of 0.31, a quick ratio of 3.65 and a current ratio of 3.65. Weibo Corporation has a 1-year low of $7.03 and a 1-year high of $12.40. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of 8.19 and a beta of 0.08.

Weibo (NASDAQ:WB - Get Free Report) last posted its earnings results 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. Weibo had a net margin of 21.10% and a return on equity of 12.65%. The business had revenue of $444.80 million for the quarter, compared to the consensus estimate of $438.84 million. During the same period last year, the company earned $0.48 EPS. The firm's revenue was up 1.6% compared to the same quarter last year. Analysts expect that Weibo Corporation will post 1.62 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Wall Street Zen lowered shares of Weibo from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Citigroup upped their price target on shares of Weibo from $12.00 to $14.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. One research 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, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $14.00.

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.