Stock Traders Buy High Volume of Put Options on Weibo (NASDAQ:WB)

Weibo Co. (NASDAQ:WB) was the target of unusually large options trading on Friday. Investors purchased 4,501 put options on the stock. This is an increase of 74% compared to the typical daily volume of 2,581 put options.

Weibo Price Performance

WB traded up $0.07 on Friday, hitting $10.49. 1,461,285 shares of the company’s stock traded hands, compared to its average volume of 1,794,503. The company’s 50 day simple moving average is $10.16 and its 200-day simple moving average is $9.45. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 7.18 and a beta of 0.27. Weibo has a one year low of $7.03 and a one year high of $12.40. The company has a current ratio of 3.57, a quick ratio of 3.57 and a debt-to-equity ratio of 0.51.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on WB shares. StockNews.com raised Weibo from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Benchmark reaffirmed a “hold” rating on shares of Weibo in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Weibo currently has a consensus rating of “Hold” and an average price target of $10.28.

Institutional Trading of Weibo

Several institutional investors and hedge funds have recently added to or reduced their stakes in WB. Blue Trust Inc. increased its stake in Weibo by 155.2% in the 4th quarter. Blue Trust Inc. now owns 2,700 shares of the information services provider’s stock worth $27,000 after acquiring an additional 1,642 shares during the last quarter. Shell Asset Management Co. bought a new stake in Weibo in the 4th quarter worth approximately $54,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Weibo in the 4th quarter worth approximately $70,000. PARUS FINANCE UK Ltd bought a new stake in Weibo in the 4th quarter worth approximately $99,000. Finally, Virtu Financial LLC bought a new stake in Weibo in the 4th quarter worth approximately $117,000. Institutional investors own 68.77% of the company’s stock.

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.