Latest Stocks: Weibo Corp (WB) Stake Increased by BNP Paribas Arbitrage SA

Latest Stocks: Weibo Corp (WB) Stake Increased by BNP Paribas Arbitrage SA

BNP Paribas Arbitrage SA increased its position in shares of Weibo Corp (NASDAQ:WB) by 965.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,734 shares of the information services provider’s stock after buying an additional 79,498 shares during the period. BNP Paribas Arbitrage SA’s holdings in Weibo Corp were worth $4,578,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in Weibo Corp by 38.6% in the first quarter. Bank of New York Mellon Corp now owns 267,985 shares of the information services provider’s stock worth $13,983,000 after buying an additional 74,593 shares during the last quarter. US Bancorp DE boosted its stake in shares of Weibo Corp by 23.3% in the first quarter. US Bancorp DE now owns 8,162 shares of the information services provider’s stock valued at $426,000 after buying an additional 1,541 shares in the last quarter. Terra Nova Asset Management LLC purchased a new stake in shares of Weibo Corp during the first quarter valued at $714,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Weibo Corp during the first quarter valued at $324,000. Finally, Advisors Asset Management Inc. boosted its stake in shares of Weibo Corp by 19.2% in the first quarter. Advisors Asset Management Inc. now owns 29,199 shares of the information services provider’s stock valued at $1,524,000 after buying an additional 4,704 shares in the last quarter. 16.58% of the stock is owned by institutional investors and hedge funds.

Shares of Weibo Corp (NASDAQ:WB) opened at 75.29 on Tuesday. The stock’s 50 day moving average is $64.28 and its 200-day moving average is $52.68. Weibo Corp has a 1-year low of $26.01 and a 1-year high of $82.28. The firm has a market cap of $15.61 billion, a PE ratio of 114.42 and a beta of 2.66.

Several equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Weibo Corp from a “buy” rating to a “hold” rating in a report on Wednesday, May 3rd. Jefferies Group LLC restated a “buy” rating and issued a $67.00 price objective on shares of Weibo Corp in a report on Tuesday, March 28th. TheStreet upgraded shares of Weibo Corp from a “c” rating to a “b-” rating in a report on Monday, April 17th. T.H. Capital reiterated a “buy” rating and issued a $70.00 target price (up from $60.00) on shares of Weibo Corp in a report on Tuesday, May 9th. Finally, Barclays PLC assumed coverage on shares of Weibo Corp in a research report on Tuesday, March 28th. They set an “overweight” rating and a $66.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $66.95. About Weibo Corp

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