Weibo Target of Unusually High Options Trading (NASDAQ:WB)

Posted by on Feb 25th, 2023

Weibo Co. (NASDAQ:WB – Get Rating) was the recipient of some unusual options trading activity on Friday. Traders bought 12,417 put options on the stock. This represents an increase of approximately 262% compared to the typical daily volume of 3,431 put options.

Weibo Stock Down 1.6 %

WB stock opened at $20.50 on Friday. Weibo has a twelve month low of $10.02 and a twelve month high of $30.09. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $4.85 billion, a P/E ratio of 78.85, a PEG ratio of 0.98 and a beta of 0.50. The firm has a 50 day simple moving average of $21.20 and a 200-day simple moving average of $17.93.

Institutional Trading of Weibo

A number of hedge funds have recently made changes to their positions in the stock. E Fund Management Hong Kong Co. Ltd. boosted its holdings in Weibo by 137.7% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 36,973 shares of the information services provider’s stock worth $887,000 after purchasing an additional 21,420 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Weibo by 18.5% in the first quarter. Envestnet Asset Management Inc. now owns 11,899 shares of the information services provider’s stock worth $292,000 after purchasing an additional 1,861 shares during the period. Advisor Group Holdings Inc. boosted its holdings in Weibo by 88.9% in the first quarter. Advisor Group Holdings Inc. now owns 1,383 shares of the information services provider’s stock worth $35,000 after purchasing an additional 651 shares during the period. US Bancorp DE boosted its holdings in Weibo by 124.7% in the first quarter. US Bancorp DE now owns 5,512 shares of the information services provider’s stock worth $135,000 after purchasing an additional 3,059 shares during the period. Finally, BlackRock Inc. boosted its holdings in Weibo by 6.3% in the first quarter. BlackRock Inc. now owns 2,898,674 shares of the information services provider’s stock worth $71,044,000 after purchasing an additional 171,508 shares during the period. Institutional investors and hedge funds own 27.46% of the company’s stock.

Analysts Set New Price Targets

WB has been the topic of several research reports. The Goldman Sachs Group upgraded shares of Weibo from a “neutral” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Sunday, January 8th. JPMorgan Chase & Co. began coverage on shares of Weibo in a research note on Monday, January 30th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Weibo presently has an average rating of “Hold” and a consensus target price of $30.14.

About Weibo

(Get Rating)

Weibo Corp. engages in the creation, distribution, and discovery of Chinese-language content. It operates through the Advertising and Marketing Services, and Other Services segments. Its products and services include Self-Expression, such as Feed, Individual page, and Enterprise page; Social Products, such as Follow, Repost, Comment, Favorite, like, Mention, Messenger, and Group Chat; Discovery Products, such as Information Feed, Search, Object Page, Trends, and Discovery Channel; Notifications; Weibo Games; VIP Membership; and Weibo Apps.

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