JPMorgan Chase & Co. Increases Position in WEIBO CORP ADS (WB)

JPMorgan Chase & Co. increased its position in shares of WEIBO CORP ADS (NASDAQ:WB) by 16.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,041 shares of the company’s stock after buying an additional 5,145 shares during the period. JPMorgan Chase & Co.’s holdings in WEIBO CORP ADS were worth $1,807,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC increased its stake in WEIBO CORP ADS by 131.4% in the third quarter. Acadian Asset Management LLC now owns 1,131,882 shares of the company’s stock worth $56,752,000 after buying an additional 642,691 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of WEIBO CORP ADS by 2.7% in the third quarter. Wells Fargo & Company MN now owns 3,017,638 shares of the company’s stock worth $151,305,000 after buying an additional 79,178 shares in the last quarter. Navellier & Associates Inc purchased a new stake in shares of WEIBO CORP ADS during the third quarter worth about $4,762,000. State of Wisconsin Investment Board increased its stake in shares of WEIBO CORP ADS by 66.6% in the third quarter. State of Wisconsin Investment Board now owns 164,615 shares of the company’s stock worth $8,254,000 after buying an additional 65,821 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of WEIBO CORP ADS during the second quarter worth about $4,130,000. 15.55% of the stock is currently owned by hedge funds and other institutional investors.

Shares of WEIBO CORP ADS (NASDAQ:WB) traded up 0.9255% during trading on Tuesday, reaching $47.9699. 1,630,918 shares of the company’s stock traded hands. The company has a market capitalization of $9.94 billion, a price-to-earnings ratio of 126.2366 and a beta of 2.62. WEIBO CORP ADS has a 1-year low of $12.09 and a 1-year high of $55.93. The stock has a 50-day moving average of $44.79 and a 200-day moving average of $45.07.

WEIBO CORP ADS (NASDAQ:WB) last announced its quarterly earnings results on Monday, November 21st. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.04. WEIBO CORP ADS had a net margin of 14.22% and a return on equity of 12.79%. The company had revenue of $176.90 million for the quarter, compared to the consensus estimate of $173.19 million. During the same quarter in the prior year, the firm earned $0.10 earnings per share. The company’s revenue for the quarter was up 41.8% compared to the same quarter last year. On average, equities analysts predict that WEIBO CORP ADS will post $0.76 EPS for the current fiscal year.

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A number of analysts have recently issued reports on WB shares. Jefferies Group restated a “buy” rating and set a $60.00 price target (up previously from $43.00) on shares of WEIBO CORP ADS in a report on Monday, October 3rd. Zacks Investment Research cut shares of WEIBO CORP ADS from a “buy” rating to a “hold” rating in a research report on Wednesday, November 30th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of WEIBO CORP ADS in a research report on Wednesday, October 26th. T.H. Capital increased their price objective on shares of WEIBO CORP ADS from $38.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, October 7th. Finally, Vetr raised shares of WEIBO CORP ADS from a “buy” rating to a “strong-buy” rating and set a $84.50 price objective for the company in a research report on Monday, December 12th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $54.61.

About WEIBO CORP ADS

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.