Oregon Public Employees Retirement Fund bought a new stake in Twitter Inc (NYSE:TWTR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 104,032 shares of the social networking company’s stock, valued at approximately $4,543,000.
Several other hedge funds and other institutional investors have also modified their holdings of TWTR. Burney Co. acquired a new stake in Twitter during the 2nd quarter worth approximately $430,000. Korea Investment CORP raised its holdings in Twitter by 1,299.1% during the 2nd quarter. Korea Investment CORP now owns 943,646 shares of the social networking company’s stock worth $41,209,000 after buying an additional 876,200 shares during the period. Signet Financial Management LLC raised its holdings in Twitter by 2,821.0% during the 2nd quarter. Signet Financial Management LLC now owns 8,500 shares of the social networking company’s stock worth $371,000 after buying an additional 8,209 shares during the period. Liberty Mutual Group Asset Management Inc. acquired a new stake in Twitter during the 2nd quarter worth approximately $1,143,000. Finally, Envestnet Asset Management Inc. raised its holdings in Twitter by 19.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 176,616 shares of the social networking company’s stock worth $7,714,000 after buying an additional 28,740 shares during the period. 64.51% of the stock is currently owned by institutional investors.
Several brokerages have commented on TWTR. Wells Fargo & Co dropped their target price on shares of Twitter from $42.00 to $32.00 and set an “in-line” rating on the stock in a report on Monday, July 30th. Canaccord Genuity restated a “hold” rating and set a $32.00 target price (up from $28.00) on shares of Twitter in a report on Friday, July 27th. Nomura upgraded shares of Twitter from a “reduce” rating to a “neutral” rating and dropped their target price for the stock from $31.75 to $31.00 in a report on Tuesday, July 31st. Macquarie downgraded shares of Twitter from an “outperform” rating to a “neutral” rating and raised their target price for the stock from $36.00 to $42.00 in a report on Wednesday, July 18th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded shares of Twitter from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Three analysts have rated the stock with a sell rating, twenty-three have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $33.13.
In related news, VP Matthew Derella sold 7,008 shares of the business’s stock in a transaction on Thursday, July 5th. The shares were sold at an average price of $44.46, for a total transaction of $311,575.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Robert Kaiden sold 3,718 shares of the business’s stock in a transaction on Thursday, September 6th. The stock was sold at an average price of $31.47, for a total transaction of $117,005.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,135,654 shares of company stock worth $167,647,775. 10.79% of the stock is owned by corporate insiders.
NYSE TWTR opened at $30.49 on Friday. The company has a market capitalization of $23.35 billion, a PE ratio of 102.70, a price-to-earnings-growth ratio of 3.96 and a beta of 0.73. Twitter Inc has a 12-month low of $16.57 and a 12-month high of $47.79. The company has a debt-to-equity ratio of 0.47, a quick ratio of 11.00 and a current ratio of 11.00.
Twitter (NYSE:TWTR) last issued its earnings results on Friday, July 27th. The social networking company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.01. The business had revenue of $710.54 million for the quarter, compared to the consensus estimate of $697.35 million. Twitter had a net margin of 8.57% and a return on equity of 4.37%. The firm’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.08 earnings per share. analysts predict that Twitter Inc will post 0.35 EPS for the current fiscal year.
Twitter Company Profile
Twitter, Inc operates as a platform for public self-expression and conversation in real time. The company offers various products and services, including Twitter 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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