SRS Investment Management LLC lowered its stake in Twitter Inc (NYSE:TWTR) by 17.3% in the second quarter, Holdings Channel reports. The fund owned 5,725,246 shares of the social networking company’s stock after selling 1,197,135 shares during the quarter. Twitter accounts for approximately 4.3% of SRS Investment Management LLC’s investment portfolio, making the stock its 8th largest holding. SRS Investment Management LLC’s holdings in Twitter were worth $199,811,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Resources Investment Advisors LLC. bought a new position in shares of Twitter in the second quarter worth about $30,000. Optimus Prime Fund Management Co. Ltd. bought a new position in shares of Twitter in the second quarter worth about $35,000. Commonwealth Bank of Australia lifted its holdings in shares of Twitter by 77.2% in the second quarter. Commonwealth Bank of Australia now owns 1,171 shares of the social networking company’s stock worth $38,000 after acquiring an additional 510 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Twitter by 265.8% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,101 shares of the social networking company’s stock worth $40,000 after acquiring an additional 800 shares during the last quarter. Finally, Joseph P. Lucia & Associates LLC bought a new position in shares of Twitter in the second quarter worth about $43,000. 69.15% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently commented on TWTR. Cfra raised shares of Twitter to a “hold” rating and set a $41.00 target price for the company in a report on Wednesday, July 31st. Morgan Stanley reissued an “equal weight” rating and issued a $35.00 target price (up previously from $32.00) on shares of Twitter in a report on Tuesday, August 6th. Mizuho set a $35.00 target price on shares of Twitter and gave the stock a “sell” rating in a report on Friday, July 26th. Nomura increased their target price on shares of Twitter from $33.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Finally, Loop Capital began coverage on shares of Twitter in a report on Monday, June 3rd. They issued a “buy” rating for the company. Four investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $41.35.
NYSE:TWTR traded up $0.23 on Friday, reaching $43.16. 9,010,425 shares of the stock traded hands, compared to its average volume of 10,733,433. The firm has a market capitalization of $33.50 billion, a price-to-earnings ratio of 78.46, a price-to-earnings-growth ratio of 0.89 and a beta of 0.58. The company’s 50 day moving average is $42.27 and its 200-day moving average is $37.48. The company has a current ratio of 4.33, a quick ratio of 4.33 and a debt-to-equity ratio of 0.29. Twitter Inc has a 1-year low of $26.19 and a 1-year high of $45.85.
Twitter (NYSE:TWTR) last released its earnings results on Friday, July 26th. The social networking company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. The business had revenue of $841.40 million during the quarter, compared to the consensus estimate of $828.07 million. Twitter had a net margin of 71.46% and a return on equity of 7.93%. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.17 EPS. On average, equities research analysts forecast that Twitter Inc will post 2.06 EPS for the current fiscal year.
In other Twitter news, CFO Ned D. Segal sold 8,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $43.88, for a total transaction of $351,040.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Matthew Derella sold 4,669 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $36.16, for a total transaction of $168,831.04. The disclosure for this sale can be found here. Insiders have sold a total of 125,952 shares of company stock valued at $5,053,079 in the last three months. Insiders own 2.65% of the company’s stock.
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, 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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