Pictet Asset Management Ltd. lessened its position in shares of SINA Corp (NASDAQ:SINA) by 61.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 294,249 shares of the technology company’s stock after selling 469,191 shares during the period. Pictet Asset Management Ltd. owned approximately 0.41% of SINA worth $11,532,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of SINA. Andra AP fonden raised its position in shares of SINA by 26.8% in the third quarter. Andra AP fonden now owns 93,200 shares of the technology company’s stock valued at $3,653,000 after buying an additional 19,700 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of SINA in the third quarter valued at approximately $618,000. Boston Partners raised its position in shares of SINA by 3.2% in the third quarter. Boston Partners now owns 22,498 shares of the technology company’s stock valued at $882,000 after buying an additional 704 shares in the last quarter. Matthews International Capital Management LLC raised its position in shares of SINA by 36.2% in the third quarter. Matthews International Capital Management LLC now owns 252,300 shares of the technology company’s stock valued at $9,888,000 after buying an additional 67,100 shares in the last quarter. Finally, Doliver Advisors LP raised its position in shares of SINA by 13.1% in the third quarter. Doliver Advisors LP now owns 8,273 shares of the technology company’s stock valued at $338,000 after buying an additional 959 shares in the last quarter. Institutional investors own 64.34% of the company’s stock.

A number of research firms have recently weighed in on SINA. BOCOM International upgraded shares of SINA from a “neutral” rating to a “buy” rating in a research report on Wednesday, August 21st. Jefferies Financial Group assumed coverage on shares of SINA in a research report on Monday, August 5th. They set a “hold” rating for the company. Citigroup set a $59.00 price objective on shares of SINA and gave the company a “buy” rating in a research report on Wednesday, August 21st. BidaskClub downgraded shares of SINA from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 25th. Finally, ValuEngine upgraded shares of SINA from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $64.31.

Shares of SINA opened at $34.91 on Tuesday. SINA Corp has a one year low of $31.03 and a one year high of $70.83. The company has a market cap of $2.50 billion, a P/E ratio of 20.54 and a beta of 1.32. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.92 and a quick ratio of 2.92. The firm has a 50 day simple moving average of $38.39 and a two-hundred day simple moving average of $40.55.

SINA (NASDAQ:SINA) last announced its quarterly earnings data on Thursday, November 14th. The technology company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.59 by $0.35. SINA had a net margin of 5.66% and a return on equity of 3.08%. The business had revenue of $561.45 million during the quarter, compared to the consensus estimate of $557.76 million. During the same period in the previous year, the business earned $0.93 earnings per share. The company’s revenue was up .8% on a year-over-year basis. On average, analysts expect that SINA Corp will post 2.03 earnings per share for the current fiscal year.

SINA Profile

SINA Corporation, through its subsidiaries, operates as an online media company in the People's Republic of China. It operates SINA.com, an online brand advertising portal that provides region-focused format and content, including multimedia news; business news coverage and personal finance columns; sporting events news; automobile-related news; entertainment news and events; technology updates; interactive video products, such as news, sports, and entertainment; and education, digital, fashion, luxury, health, collectibles, travel, and other interest-based channels.

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Institutional Ownership by Quarter for SINA (NASDAQ:SINA)

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