3,125,000 Shares in 58.com Inc. (WUBA) Acquired by General Atlantic LLC

General Atlantic LLC acquired a new stake in 58.com Inc. (NYSE:WUBA) during the fourth quarter, Holdings Channel reports. The firm acquired 3,125,000 shares of the company’s stock, valued at approximately $87,500,000. 58.com accounts for about 5.1% of General Atlantic LLC’s holdings, making the stock its 6th largest position. General Atlantic LLC owned approximately 2.16% of 58.com at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Great West Life Assurance Co. Can raised its position in shares of 58.com by 7.7% in the third quarter. Great West Life Assurance Co. Can now owns 30,700 shares of the company’s stock valued at $1,460,000 after buying an additional 2,200 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of 58.com by 24.1% in the third quarter. BNP Paribas Arbitrage SA now owns 242,526 shares of the company’s stock valued at $11,559,000 after buying an additional 47,147 shares during the period. Jane Street Group LLC raised its position in shares of 58.com by 26.9% in the third quarter. Jane Street Group LLC now owns 34,885 shares of the company’s stock valued at $1,663,000 after buying an additional 7,393 shares during the period. BlackRock Japan Co. Ltd raised its position in shares of 58.com by 6.8% in the third quarter. BlackRock Japan Co. Ltd now owns 100,405 shares of the company’s stock valued at $4,785,000 after buying an additional 6,358 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of 58.com by 7.0% in the third quarter. Bank of New York Mellon Corp now owns 88,364 shares of the company’s stock valued at $4,212,000 after buying an additional 5,772 shares during the period. Institutional investors and hedge funds own 55.74% of the company’s stock.

Institutional Ownership by Quarter for 58.com (NYSE:WUBA)

Shares of 58.com Inc. (NYSE:WUBA) traded down 0.58% during mid-day trading on Monday, reaching $32.72. 2,458,175 shares of the company traded hands. 58.com Inc. has a 52 week low of $27.58 and a 52 week high of $61.59. The firm has a 50 day moving average of $29.43 and a 200-day moving average of $39.55. The stock’s market capitalization is $4.73 billion.

58.com (NYSE:WUBA) last released its quarterly earnings data on Thursday, November 10th. The company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by $0.10. 58.com had a negative return on equity of 5.05% and a negative net margin of 9.27%. The company earned $306.50 million during the quarter, compared to analysts’ expectations of $308.29 million. During the same quarter in the prior year, the company posted ($0.50) EPS. The company’s revenue for the quarter was up 44.0% on a year-over-year basis. On average, equities research analysts expect that 58.com Inc. will post ($0.35) EPS for the current fiscal year.

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Several research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of 58.com from a “hold” rating to a “sell” rating in a research note on Wednesday, January 18th. Brean Capital lowered shares of 58.com from a “buy” rating to a “hold” rating and set a $57.00 price target for the company. in a research note on Friday, November 11th. Credit Suisse Group lowered shares of 58.com from an “outperform” rating to a “neutral” rating in a research note on Friday, November 11th. TheStreet lowered shares of 58.com from a “hold” rating to a “sell” rating in a research note on Friday, December 2nd. Finally, Deutsche Bank AG lowered shares of 58.com from a “buy” rating to a “hold” rating and decreased their price target for the stock from $56.00 to $36.00 in a research note on Wednesday, December 14th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $50.80.

58.com Company Profile

58.com Inc is a holding company. The Company’s business consists of its online classifieds and listing platforms. Its online classifieds and listings platforms enable local merchants and consumers to connect, share information and conduct business in China. These platforms include 58, Ganji and Anjuke.

5 Day Chart for NYSE:WUBA

Want to see what other hedge funds are holding WUBA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 58.com Inc. (NYSE:WUBA).

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