Mark Asset Management LP Cuts Stock Position in Twitter Inc (NYSE:TWTR)

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Mark Asset Management LP lessened its stake in shares of Twitter Inc (NYSE:TWTR) by 48.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 205,451 shares of the social networking company’s stock after selling 196,330 shares during the period. Twitter makes up about 1.2% of Mark Asset Management LP’s portfolio, making the stock its 28th biggest position. Mark Asset Management LP’s holdings in Twitter were worth $6,120,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in TWTR. Kingstown Capital Management L.P. purchased a new stake in Twitter during the 1st quarter worth approximately $36,840,000. AO Asset Management LP purchased a new stake in Twitter during the 1st quarter worth approximately $30,700,000. Bank of Montreal Can grew its position in Twitter by 120.2% during the 2nd quarter. Bank of Montreal Can now owns 2,256,366 shares of the social networking company’s stock worth $80,598,000 after purchasing an additional 1,231,738 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Twitter by 423,863.1% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 920,000 shares of the social networking company’s stock valued at $27,407,000 after acquiring an additional 919,783 shares during the last quarter. Finally, APG Asset Management N.V. boosted its holdings in shares of Twitter by 144.9% in the 2nd quarter. APG Asset Management N.V. now owns 1,536,745 shares of the social networking company’s stock valued at $40,760,000 after acquiring an additional 909,291 shares during the last quarter. 71.92% of the stock is currently owned by institutional investors.

TWTR has been the topic of several recent research reports. Oppenheimer initiated coverage on shares of Twitter in a report on Friday, July 17th. They issued a “buy” rating and a $36.00 price objective on the stock. BMO Capital Markets upped their price objective on shares of Twitter from $32.00 to $35.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Stifel Nicolaus upped their price objective on shares of Twitter from $30.00 to $33.00 and gave the company a “hold” rating in a report on Tuesday, July 21st. Guggenheim raised shares of Twitter to a “neutral” rating and upped their price objective for the company from $28.00 to $39.00 in a report on Friday, July 24th. Finally, Citigroup upped their price objective on shares of Twitter from $30.00 to $36.00 and gave the company a “neutral” rating in a report on Monday, June 22nd. Four equities research analysts have rated the stock with a sell rating, twenty-six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $34.95.

In other news, insider Matthew Derella sold 1,072 shares of the 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael Montano sold 1,750 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $33.62, for a total transaction of $58,835.00. The disclosure for this sale can be found here. Insiders have sold 74,770 shares of company stock worth $2,809,471 in the last three months. Corporate insiders own 2.64% of the company’s stock.

Shares of NYSE TWTR traded down $1.76 during mid-day trading on Friday, reaching $39.87. The company’s stock had a trading volume of 17,766,654 shares, compared to its average volume of 13,960,262. The company has a debt-to-equity ratio of 0.45, a quick ratio of 10.10 and a current ratio of 10.10. The stock has a market capitalization of $31.54 billion, a P/E ratio of -29.10 and a beta of 0.87. The stock has a 50-day moving average of $38.14 and a two-hundred day moving average of $32.61. Twitter Inc has a 1-year low of $20.00 and a 1-year high of $45.85.

Twitter (NYSE:TWTR) last announced its earnings results on Thursday, July 23rd. The social networking company reported ($1.39) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($1.24). The company had revenue of $683.40 million for the quarter, compared to analysts’ expectations of $708.05 million. Twitter had a negative return on equity of 12.17% and a negative net margin of 32.54%. The company’s quarterly revenue was down 18.8% compared to the same quarter last year. During the same period last year, the business earned $1.58 EPS. Analysts predict that Twitter Inc will post -1.47 EPS for the current fiscal year.

Twitter 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.

Further Reading: Black Swan

Institutional Ownership by Quarter for Twitter (NYSE:TWTR)

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