E Fund Management Hong Kong Co. Ltd. Acquires Shares of 7,295 Weibo Co. (NASDAQ:WB)

E Fund Management Hong Kong Co. Ltd. bought a new position in Weibo Co. (NASDAQ:WB) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 7,295 shares of the information services provider’s stock, valued at approximately $70,000.

Several other hedge funds have also recently made changes to their positions in WB. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Weibo by 60.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 282,199 shares of the information services provider’s stock worth $2,845,000 after acquiring an additional 105,780 shares during the last quarter. Citigroup Inc. boosted its position in Weibo by 347.3% during the third quarter. Citigroup Inc. now owns 602,853 shares of the information services provider’s stock worth $6,077,000 after purchasing an additional 468,072 shares during the period. Geode Capital Management LLC boosted its position in Weibo by 78.1% during the third quarter. Geode Capital Management LLC now owns 223,447 shares of the information services provider’s stock worth $2,252,000 after purchasing an additional 98,017 shares during the period. Polunin Capital Partners Ltd purchased a new position in shares of Weibo in the third quarter worth about $5,064,000. Finally, Barclays PLC raised its position in shares of Weibo by 13.8% in the third quarter. Barclays PLC now owns 212,919 shares of the information services provider’s stock valued at $2,146,000 after purchasing an additional 25,750 shares during the period. 68.77% of the stock is currently owned by institutional investors.

Weibo Trading Up 4.8 %

Weibo stock opened at $9.79 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.57 and a current ratio of 3.57. Weibo Co. has a fifty-two week low of $7.03 and a fifty-two week high of $12.40. The stock has a market cap of $2.25 billion, a P/E ratio of 6.71 and a beta of 0.26. The firm’s fifty day moving average price is $9.58 and its 200-day moving average price is $8.84.

Wall Street Analyst Weigh In

Several research firms recently commented on WB. Citigroup raised their price objective on shares of Weibo from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Benchmark reiterated a “hold” rating on shares of Weibo in a research report on Wednesday, November 20th. Finally, StockNews.com raised Weibo from a “hold” rating to a “buy” rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Weibo presently has a consensus rating of “Hold” and an average target price of $10.28.

Weibo Profile

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.