Comerica Bank Buys 3,427 Shares of Weibo Corporation (WB)
Comerica Bank raised its stake in Weibo Corporation (NASDAQ:WB) by 49.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,362 shares of the information services provider’s stock after acquiring an additional 3,427 shares during the period. Comerica Bank’s holdings in Weibo were worth $931,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in shares of Weibo by 9.8% in the third quarter. Bank of New York Mellon Corp now owns 178,511 shares of the information services provider’s stock worth $17,661,000 after acquiring an additional 15,915 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Weibo by 250.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 10,521 shares of the information services provider’s stock valued at $1,666,000 after buying an additional 7,515 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Weibo during the third quarter valued at $2,506,000. Advisor Group Inc. boosted its position in shares of Weibo by 13.7% during the third quarter. Advisor Group Inc. now owns 5,043 shares of the information services provider’s stock valued at $499,000 after buying an additional 609 shares during the last quarter. Finally, CI Investments Inc. boosted its position in shares of Weibo by 281.1% during the third quarter. CI Investments Inc. now owns 54,300 shares of the information services provider’s stock valued at $5,372,000 after buying an additional 40,050 shares during the last quarter. 21.98% of the stock is currently owned by hedge funds and other institutional investors.
Weibo Corporation (NASDAQ:WB) opened at $102.03 on Tuesday. Weibo Corporation has a 1-year low of $40.12 and a 1-year high of $123.00. The firm has a market capitalization of $22,310.00, a PE ratio of 88.84 and a beta of 2.52.
Weibo (NASDAQ:WB) last posted its earnings results on Tuesday, November 7th. The information services provider reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. Weibo had a return on equity of 30.00% and a net margin of 26.85%. The company had revenue of $320.00 million for the quarter, compared to the consensus estimate of $297.20 million. During the same quarter in the prior year, the company earned $0.24 earnings per share. Weibo’s revenue was up 80.9% on a year-over-year basis. equities analysts anticipate that Weibo Corporation will post 1.5 earnings per share for the current fiscal year.
Several research firms recently commented on WB. BidaskClub cut Weibo from a “buy” rating to a “hold” rating in a research report on Saturday. Instinet reaffirmed a “buy” rating and set a $102.00 price objective (up from $91.00) on shares of Weibo in a research report on Friday, August 11th. ValuEngine cut Weibo from a “hold” rating to a “sell” rating in a research report on Friday. Jefferies Group dropped their price objective on Weibo from $105.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, August 10th. Finally, Zacks Investment Research raised Weibo from a “hold” rating to a “strong-buy” rating and set a $95.00 price objective on the stock in a research report on Tuesday, August 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. Weibo presently has an average rating of “Buy” and an average price target of $93.39.
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Weibo Corporation is a social media platform for people to create, distribute and discover Chinese-language content. The Company provides ways for people and organizations to publicly express themselves in real time, interact with others on a global platform and stay connected with the world. It operates in two segments: advertising and marketing services and other services.
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