Rockbridge Investment Management LCC purchased a new stake in shares of Twitter Inc (NYSE:TWTR) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,750 shares of the social networking company’s stock, valued at approximately $82,000.
Other hedge funds have also recently added to or reduced their stakes in the company. State of Michigan Retirement System grew its holdings in shares of Twitter by 12.6% in the second quarter. State of Michigan Retirement System now owns 200,394 shares of the social networking company’s stock valued at $5,970,000 after purchasing an additional 22,394 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Twitter by 23.6% during the first quarter. Victory Capital Management Inc. now owns 3,682,779 shares of the social networking company’s stock worth $90,449,000 after acquiring an additional 703,973 shares during the period. Swiss National Bank raised its stake in shares of Twitter by 8.1% in the second quarter. Swiss National Bank now owns 3,093,822 shares of the social networking company’s stock valued at $92,165,000 after acquiring an additional 231,300 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Twitter by 33.3% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 10,400 shares of the social networking company’s stock valued at $310,000 after purchasing an additional 2,600 shares during the period. Finally, DNB Asset Management AS grew its stake in Twitter by 9.1% during the 2nd quarter. DNB Asset Management AS now owns 81,752 shares of the social networking company’s stock worth $2,435,000 after purchasing an additional 6,814 shares in the last quarter. 71.92% of the stock is currently owned by hedge funds and other institutional investors.
Twitter stock traded up $0.83 during midday trading on Wednesday, reaching $39.92. The company’s stock had a trading volume of 466,256 shares, compared to its average volume of 20,728,721. Twitter Inc has a fifty-two week low of $20.00 and a fifty-two week high of $44.09. The firm has a market capitalization of $30.92 billion, a PE ratio of -28.53 and a beta of 0.87. The stock’s 50 day simple moving average is $38.67 and its 200 day simple moving average is $32.70. The company has a debt-to-equity ratio of 0.45, a quick ratio of 10.10 and a current ratio of 10.10.
Twitter (NYSE:TWTR) last released its quarterly earnings data on Thursday, July 23rd. The social networking company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($0.15) by ($1.24). Twitter had a negative return on equity of 12.17% and a negative net margin of 32.54%. The business had revenue of $683.40 million during the quarter, compared to analysts’ expectations of $708.05 million. During the same quarter in the prior year, the firm earned $1.58 earnings per share. Twitter’s quarterly revenue was down 18.8% on a year-over-year basis. Equities analysts predict that Twitter Inc will post -1.47 earnings per share for the current year.
Several equities analysts have recently issued reports on TWTR shares. ValuEngine upgraded Twitter from a “hold” rating to a “buy” rating in a research note on Friday, July 24th. Morgan Stanley increased their price objective on shares of Twitter from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, July 24th. Zacks Investment Research raised shares of Twitter from a “sell” rating to a “hold” rating and set a $34.00 price objective for the company in a research report on Tuesday, July 7th. Pivotal Research increased their target price on Twitter from $32.00 to $36.00 and gave the company a “hold” rating in a report on Friday, July 24th. They noted that the move was a valuation call. Finally, Oppenheimer began coverage on Twitter in a report on Friday, July 17th. They set a “buy” rating and a $36.00 price target for the company. Four investment analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and ten have assigned a buy rating to the company. Twitter presently has a consensus rating of “Hold” and an average price target of $34.41.
In related news, insider Michael Montano sold 1,750 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $31.50, for a total value of $55,125.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Matthew Derella sold 1,072 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $29.56, for a total transaction of $31,688.32. The disclosure for this sale can be found here. Insiders sold 75,520 shares of company stock worth $2,858,863 in the last ninety days. Insiders own 2.64% of the company’s stock.
Twitter, Inc operates as a platform for public self-expression and conversation in real time. The company offers various products and services, including Twitter, a platform that allows users to consume, create, distribute, and discover content; and Periscope, a mobile application that enables user to broadcast and watch video live with others.
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