Krane Funds Advisors LLC Sells 211,260 Shares of Weibo Co. (NASDAQ:WB)

Krane Funds Advisors LLC reduced its stake in shares of Weibo Co. (NASDAQ:WB) by 5.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,592,492 shares of the information services provider’s stock after selling 211,260 shares during the quarter. Weibo accounts for 1.3% of Krane Funds Advisors LLC’s portfolio, making the stock its 13th largest position. Krane Funds Advisors LLC owned about 1.53% of Weibo worth $36,212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Edmond DE Rothschild Holding S.A. increased its stake in shares of Weibo by 4.7% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 134,393 shares of the information services provider’s stock valued at $1,222,000 after buying an additional 6,000 shares in the last quarter. SG Americas Securities LLC increased its position in Weibo by 21.5% in the 2nd quarter. SG Americas Securities LLC now owns 51,661 shares of the information services provider’s stock valued at $397,000 after acquiring an additional 9,143 shares in the last quarter. Deltec Asset Management LLC bought a new position in shares of Weibo in the second quarter worth about $82,000. Creative Planning acquired a new position in shares of Weibo during the third quarter worth approximately $112,000. Finally, Bayesian Capital Management LP bought a new stake in shares of Weibo during the first quarter valued at approximately $123,000. 68.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on WB. Nomura Securities raised Weibo to a “hold” rating in a report on Monday, August 26th. StockNews.com lowered Weibo from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Morgan Stanley lowered their price objective on Weibo from $8.00 to $7.50 and set an “underweight” rating for the company in a research report on Friday, August 23rd. Finally, Citigroup boosted their price objective on Weibo from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.23.

Weibo Trading Down 0.9 %

NASDAQ WB opened at $9.01 on Tuesday. Weibo Co. has a 12 month low of $7.03 and a 12 month high of $12.65. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.55. The stock has a 50-day simple moving average of $8.51 and a 200 day simple moving average of $8.45. The company has a market capitalization of $2.11 billion, a PE ratio of 7.57, a P/E/G ratio of 1.53 and a beta of 0.23.

Weibo (NASDAQ:WB) last announced its quarterly earnings data on Thursday, August 22nd. The information services provider reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.10. Weibo had a return on equity of 11.01% and a net margin of 18.52%. The firm had revenue of $437.90 million during the quarter, compared to analysts’ expectations of $437.97 million. During the same period in the previous year, the firm earned $0.42 EPS. The company’s quarterly revenue was down .5% compared to the same quarter last year. Research analysts forecast that Weibo Co. will post 1.48 EPS for the current year.

About Weibo

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.