Coatue Management LLC lessened its position in shares of Twitter Inc (NYSE:TWTR) by 94.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 353,829 shares of the social networking company’s stock after selling 6,287,982 shares during the period. Coatue Management LLC’s holdings in Twitter were worth $10,541,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Weaver Consulting Group grew its holdings in Twitter by 430.1% during the 2nd quarter. Weaver Consulting Group now owns 986 shares of the social networking company’s stock worth $29,000 after acquiring an additional 800 shares in the last quarter. M&R Capital Management Inc. raised its position in Twitter by 122.2% in the 2nd quarter. M&R Capital Management Inc. now owns 1,000 shares of the social networking company’s stock valued at $29,000 after purchasing an additional 550 shares during the last quarter. Kistler Tiffany Companies LLC purchased a new stake in Twitter in the 2nd quarter valued at $36,000. Meeder Asset Management Inc. raised its position in Twitter by 254.3% in the 1st quarter. Meeder Asset Management Inc. now owns 1,396 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 1,002 shares during the last quarter. Finally, Westside Investment Management Inc. raised its position in Twitter by 149.2% in the 2nd quarter. Westside Investment Management Inc. now owns 1,545 shares of the social networking company’s stock valued at $46,000 after purchasing an additional 925 shares during the last quarter. Institutional investors own 71.92% of the company’s stock.
In related news, CFO Ned D. Segal sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $35.99, for a total value of $287,920.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Matthew Derella sold 1,072 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $29.56, for a total value of $31,688.32. The disclosure for this sale can be found here. In the last three months, insiders sold 74,770 shares of company stock valued at $2,809,471. 2.64% of the stock is currently owned by company insiders.
Shares of TWTR stock traded down $1.76 during trading hours on Friday, hitting $39.87. 17,766,654 shares of the company were exchanged, compared to its average volume of 13,960,262. The firm has a market cap of $31.54 billion, a PE ratio of -29.10 and a beta of 0.87. The firm has a fifty day moving average of $38.14 and a 200 day moving average of $32.61. Twitter Inc has a 1 year low of $20.00 and a 1 year high of $45.85. The company has a quick ratio of 10.10, a current ratio of 10.10 and a debt-to-equity ratio of 0.45.
Twitter (NYSE:TWTR) last announced its quarterly earnings results on Thursday, July 23rd. The social networking company reported ($1.39) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($1.24). The firm had revenue of $683.40 million during the quarter, compared to the consensus estimate of $708.05 million. Twitter had a negative net margin of 32.54% and a negative return on equity of 12.17%. The company’s quarterly revenue was down 18.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.58 EPS. Analysts expect that Twitter Inc will post -1.47 earnings per share for the current year.
TWTR has been the subject of several research reports. Vertical Research upgraded shares of Twitter to a “positive” rating in a research report on Monday, June 15th. Vertical Group upgraded shares of Twitter to a “positive” rating in a research report on Monday, June 15th. Stifel Nicolaus upped their price target on shares of Twitter from $30.00 to $33.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Wedbush restated a “neutral” rating and set a $30.00 price objective on shares of Twitter in a research report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Twitter from $29.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Four analysts have rated the stock with a sell rating, twenty-six have given a hold rating and eleven have assigned a buy rating to the company’s stock. Twitter has an average rating of “Hold” and a consensus target price of $34.95.
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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