Essex Investment Management Co. LLC bought a new stake in shares of Sina Corporation (NASDAQ:SINA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 12,675 shares of the technology company’s stock, valued at approximately $1,077,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Comerica Bank increased its stake in Sina Corporation by 14.6% in the fourth quarter. Comerica Bank now owns 4,008 shares of the technology company’s stock worth $275,000 after buying an additional 511 shares during the period. Norges Bank acquired a new stake in Sina Corporation during the fourth quarter worth $25,900,000. UBS Asset Management Americas Inc. acquired a new stake in Sina Corporation during the fourth quarter worth $5,751,000. USA Financial Portformulas Corp increased its stake in Sina Corporation by 2.1% in the fourth quarter. USA Financial Portformulas Corp now owns 3,655 shares of the technology company’s stock worth $222,000 after buying an additional 74 shares during the period. Finally, Teachers Advisors LLC acquired a new stake in Sina Corporation during the fourth quarter worth $1,371,000. Institutional investors own 66.43% of the company’s stock.

Sina Corporation (NASDAQ SINA) traded up 0.94% during midday trading on Friday, reaching $95.29. The company’s stock had a trading volume of 1,411,097 shares. The stock’s 50-day moving average price is $91.83 and its 200-day moving average price is $81.82. The firm has a market capitalization of $6.78 billion, a price-to-earnings ratio of 31.20 and a beta of 1.24. Sina Corporation has a 12 month low of $60.46 and a 12 month high of $105.99.

Sina Corporation (NASDAQ:SINA) last released its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.27. The firm had revenue of $358.93 million for the quarter, compared to analysts’ expectations of $344.23 million. Sina Corporation had a net margin of 18.64% and a return on equity of 6.65%. The business’s revenue was up 47.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 EPS. Analysts predict that Sina Corporation will post $2.78 EPS for the current year.

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A number of research firms recently weighed in on SINA. Jefferies Group LLC restated a “buy” rating and issued a $122.00 price target on shares of Sina Corporation in a research note on Tuesday, May 30th. Citigroup Inc. boosted their target price on Sina Corporation to $140.00 and gave the stock a “buy” rating in a research report on Thursday. Stifel Nicolaus reiterated a “hold” rating and set a $92.00 target price (up from $74.00) on shares of Sina Corporation in a research report on Wednesday, May 17th. BidaskClub raised Sina Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, August 4th. Finally, Bank of America Corporation reissued a “buy” rating and issued a $119.00 price target (up from $112.00) on shares of Sina Corporation in a report on Thursday. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Sina Corporation has a consensus rating of “Buy” and a consensus price target of $101.74.

Sina Corporation Company Profile

Sina Corporation is an online media company serving China and the global Chinese communities. The Company’s digital media network of SINA.com (portal), SINA mobile (mobile portal and mobile applications) and Weibo (social media) enables Internet users to access professional media and user generated content (UGCs) in multi-media formats from personal computers and mobile devices, and share their interests with friends and acquaintances.

Institutional Ownership by Quarter for Sina Corporation (NASDAQ:SINA)

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