E Fund Management Hong Kong Co. Ltd. Invests $70,000 in Weibo Co. (NASDAQ:WB)

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

Other large investors have also added to or reduced their stakes in the company. Creative Planning purchased a new position in shares of Weibo in the 3rd quarter worth about $112,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Weibo by 17.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,261 shares of the information services provider’s stock worth $134,000 after buying an additional 1,970 shares in the last quarter. Diversified Trust Co purchased a new stake in Weibo in the third quarter worth approximately $194,000. Franklin Resources Inc. grew its position in Weibo by 16.5% during the third quarter. Franklin Resources Inc. now owns 27,464 shares of the information services provider’s stock valued at $266,000 after acquiring an additional 3,884 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Weibo during the third quarter worth approximately $318,000. Hedge funds and other institutional investors own 68.77% of the company’s stock.

Weibo Stock Performance

Shares of NASDAQ:WB opened at $9.79 on Monday. The company has a current ratio of 3.57, a quick ratio of 3.57 and a debt-to-equity ratio of 0.51. The company has a 50-day moving average price of $9.58 and a 200-day moving average price of $8.84. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 6.71 and a beta of 0.26. Weibo Co. has a 12 month low of $7.03 and a 12 month high of $12.40.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WB. StockNews.com raised shares of Weibo from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Benchmark reaffirmed a “hold” rating on shares of Weibo in a research note on Wednesday, November 20th. Finally, Citigroup boosted their target price on Weibo from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $10.28.

Weibo Company 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.