Pillar Pacific Capital Management LLC Raises Holdings in Weibo Corp (NASDAQ:WB)

Share on StockTwits

Pillar Pacific Capital Management LLC grew its position in shares of Weibo Corp (NASDAQ:WB) by 8.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 93,058 shares of the information services provider’s stock after buying an additional 7,495 shares during the period. Pillar Pacific Capital Management LLC’s holdings in Weibo were worth $4,052,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of WB. FTB Advisors Inc. raised its stake in shares of Weibo by 2,010.0% during the 1st quarter. FTB Advisors Inc. now owns 422 shares of the information services provider’s stock valued at $25,000 after purchasing an additional 402 shares during the period. Cornerstone Advisors Inc. bought a new stake in shares of Weibo during the 1st quarter valued at $35,000. Bremer Bank National Association bought a new stake in shares of Weibo during the 1st quarter valued at $107,000. NN Investment Partners Holdings N.V. raised its stake in shares of Weibo by 48.1% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 4,000 shares of the information services provider’s stock valued at $174,000 after purchasing an additional 1,300 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Weibo by 49.6% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,278 shares of the information services provider’s stock valued at $203,000 after purchasing an additional 1,087 shares during the period. 25.25% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms recently issued reports on WB. HSBC lowered Weibo from a “hold” rating to a “reduce” rating and set a $45.54 price objective on the stock. in a research note on Friday, May 24th. JPMorgan Chase & Co. lowered Weibo from an “overweight” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a research note on Tuesday, May 28th. Credit Suisse Group lowered Weibo from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 16th. BidaskClub upgraded Weibo from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 20th. Finally, TheStreet lowered Weibo from a “b-” rating to a “c+” rating in a research note on Friday, May 31st. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $56.79.

NASDAQ WB traded down $0.57 during trading on Friday, reaching $39.62. The company’s stock had a trading volume of 2,006,911 shares, compared to its average volume of 2,441,190. The stock has a market capitalization of $9.04 billion, a PE ratio of 15.72 and a beta of 2.21. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.58 and a quick ratio of 3.44. The firm has a fifty day moving average of $39.55 and a 200 day moving average of $53.84. Weibo Corp has a one year low of $34.26 and a one year high of $83.35.

Weibo (NASDAQ:WB) last announced its earnings results on Monday, August 19th. The information services provider reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.12. The business had revenue of $431.80 million for the quarter, compared to analyst estimates of $434.79 million. Weibo had a return on equity of 32.08% and a net margin of 33.01%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.68 EPS. Research analysts expect that Weibo Corp will post 2.39 earnings per share for the current fiscal year.

About Weibo

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates in two segments, Advertising and Marketing Services, and Value-Added Services. The company offers self-expression products that enable its users to express themselves on its platform; social products to promote social interaction between users on its platform; and discovery products to help users discover content on its platform.

Recommended Story: What is meant by holder of record?

Want to see what other hedge funds are holding WB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Weibo Corp (NASDAQ:WB).

Institutional Ownership by Quarter for Weibo (NASDAQ:WB)

Receive News & Ratings for Weibo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Weibo and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply