Livforsakringsbolaget Skandia Omsesidigt cut its stake in Twitter Inc (NYSE:TWTR) by 49.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,000 shares of the social networking company’s stock after selling 5,900 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Twitter were worth $171,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Tyers Asset Management LLC purchased a new position in Twitter in the 2nd quarter valued at about $326,000. CIBC World Markets Inc. lifted its stake in Twitter by 73.7% in the 2nd quarter. CIBC World Markets Inc. now owns 23,406 shares of the social networking company’s stock worth $1,022,000 after purchasing an additional 9,933 shares in the last quarter. American Century Companies Inc. purchased a new position in Twitter in the 2nd quarter worth approximately $118,445,000. Northern Trust Corp lifted its stake in Twitter by 42.8% in the 2nd quarter. Northern Trust Corp now owns 10,289,349 shares of the social networking company’s stock worth $449,336,000 after purchasing an additional 3,084,415 shares in the last quarter. Finally, Amalgamated Bank lifted its stake in Twitter by 45.6% in the 2nd quarter. Amalgamated Bank now owns 108,946 shares of the social networking company’s stock worth $4,758,000 after purchasing an additional 34,099 shares in the last quarter. 64.80% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Ned D. Segal sold 6,000 shares of Twitter stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $30.44, for a total value of $182,640.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Kaiden sold 2,374 shares of Twitter stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $34.03, for a total transaction of $80,787.22. The disclosure for this sale can be found here. Insiders sold a total of 4,159,962 shares of company stock valued at $126,876,560 in the last quarter. 10.79% of the stock is owned by insiders.
Shares of NYSE TWTR opened at $34.30 on Friday. The company has a market cap of $26.11 billion, a PE ratio of 571.67, a PEG ratio of 3.52 and a beta of 0.32. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.61 and a quick ratio of 11.00. Twitter Inc has a 1 year low of $19.26 and a 1 year high of $47.79.
Twitter (NYSE:TWTR) last announced its quarterly earnings results on Thursday, October 25th. The social networking company reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.17. Twitter had a net margin of 36.35% and a return on equity of 6.75%. The business had revenue of $758.11 million during the quarter, compared to the consensus estimate of $703.57 million. On average, sell-side analysts expect that Twitter Inc will post 0.44 EPS for the current fiscal year.
A number of research firms have weighed in on TWTR. Zacks Investment Research raised shares of Twitter from a “hold” rating to a “strong-buy” rating and set a $50.00 target price on the stock in a research note on Saturday, July 7th. Macquarie lowered 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 research note on Wednesday, July 18th. They noted that the move was a valuation call. Cleveland Research set a $46.00 target price on shares of Twitter and gave the stock a “hold” rating in a research note on Tuesday, July 10th. Bank of America set a $27.00 target price on shares of Twitter and gave the stock a “sell” rating in a research note on Tuesday, July 10th. Finally, Nomura began coverage on shares of Twitter in a research note on Tuesday, July 10th. They issued a “reduce” rating and a $31.00 target price on the stock. Three research analysts have rated the stock with a sell rating, twenty have issued a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $34.75.
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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