Twitter, Inc. (TWTR) Stake Lowered by Public Sector Pension investment Board
Public Sector Pension investment Board lessened its holdings in Twitter, Inc. (NYSE:TWTR) by 99.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,000 shares of the social networking company’s stock after selling 52,455,000 shares during the period. Public Sector Pension investment Board’s holdings in Twitter were worth $804,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. D.A. Davidson & CO. boosted its position in Twitter by 0.5% during the second quarter. D.A. Davidson & CO. now owns 177,086 shares of the social networking company’s stock valued at $3,164,000 after purchasing an additional 885 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in Twitter by 12.9% during the second quarter. UBS Asset Management Americas Inc. now owns 1,741,599 shares of the social networking company’s stock valued at $31,122,000 after purchasing an additional 199,274 shares during the last quarter. Quantitative Investment Management LLC acquired a new stake in Twitter during the second quarter valued at $5,870,000. New York State Common Retirement Fund boosted its position in Twitter by 5.1% during the second quarter. New York State Common Retirement Fund now owns 1,458,700 shares of the social networking company’s stock valued at $26,067,000 after purchasing an additional 70,499 shares during the last quarter. Finally, Bank Hapoalim BM boosted its position in Twitter by 100.0% during the second quarter. Bank Hapoalim BM now owns 56,005 shares of the social networking company’s stock valued at $1,001,000 after purchasing an additional 28,000 shares during the last quarter. 49.14% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently issued reports on TWTR shares. Vetr raised Twitter from a “buy” rating to a “strong-buy” rating and set a $19.17 price objective for the company in a research report on Monday, June 12th. BidaskClub cut Twitter from a “hold” rating to a “sell” rating in a research report on Friday, June 16th. Robert W. Baird reissued a “neutral” rating on shares of Twitter in a research report on Monday, July 3rd. J P Morgan Chase & Co reissued a “neutral” rating and set a $15.00 price objective on shares of Twitter in a research report on Sunday, July 9th. Finally, Pivotal Research lifted their price objective on Twitter from $15.00 to $17.00 and gave the company a “hold” rating in a research report on Tuesday, July 11th. Fifteen investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $15.44.
In other Twitter news, General Counsel Vijaya Gadde sold 7,500 shares of Twitter stock in a transaction on Monday, July 10th. The shares were sold at an average price of $18.03, for a total value of $135,225.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Kaiden sold 4,725 shares of Twitter stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $16.06, for a total transaction of $75,883.50. The disclosure for this sale can be found here. Insiders have sold 2,253,600 shares of company stock valued at $40,779,711 in the last three months. 10.79% of the stock is owned by insiders.
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Shares of Twitter, Inc. (NYSE TWTR) opened at 17.75 on Thursday. The company has a 50 day moving average of $17.11 and a 200-day moving average of $17.09. Twitter, Inc. has a 52-week low of $14.12 and a 52-week high of $21.00. The company’s market cap is $13.01 billion.
Twitter (NYSE:TWTR) last announced its earnings results on Thursday, July 27th. The social networking company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Twitter had a negative net margin of 18.25% and a negative return on equity of 2.91%. The business had revenue of $574.00 million during the quarter, compared to the consensus estimate of $536.63 million. During the same quarter last year, the firm earned $0.13 earnings per share. Twitter’s quarterly revenue was down 4.7% on a year-over-year basis. Analysts forecast that Twitter, Inc. will post $0.33 EPS for the current fiscal year.
Twitter, Inc offers products and services for users, advertisers, developers and data partners. The Company’s products and services include Twitter, Periscope, Promoted Tweets, Promoted Accounts and Promoted Trends. Its Twitter is a platform for public self-expression and conversation in real time. Periscope broadcasts can also be viewed through Twitter and on desktop or mobile Web browser.
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