BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in shares of Twitter, Inc. (NYSE:TWTR) by 28.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 206,861 shares of the social networking company’s stock after selling 81,086 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Twitter were worth $3,697,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capstone Asset Management Co. increased its position in Twitter by 18.5% in the first quarter. Capstone Asset Management Co. now owns 16,680 shares of the social networking company’s stock worth $249,000 after buying an additional 2,600 shares during the period. DnB Asset Management AS increased its position in shares of Twitter by 20.0% in the first quarter. DnB Asset Management AS now owns 52,100 shares of the social networking company’s stock worth $779,000 after buying an additional 8,700 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Twitter by 3.9% in the first quarter. Nisa Investment Advisors LLC now owns 106,400 shares of the social networking company’s stock worth $1,591,000 after buying an additional 4,000 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of Twitter during the first quarter worth approximately $244,000. Finally, Candriam Luxembourg S.C.A. increased its position in shares of Twitter by 28.6% in the first quarter. Candriam Luxembourg S.C.A. now owns 35,887 shares of the social networking company’s stock worth $537,000 after buying an additional 7,991 shares during the period. 47.36% of the stock is owned by institutional investors and hedge funds.
Shares of Twitter, Inc. (NYSE TWTR) opened at 16.96 on Thursday. The company’s market capitalization is $12.43 billion. The stock has a 50 day moving average of $17.60 and a 200-day moving average of $16.83. Twitter, Inc. has a 1-year low of $14.12 and a 1-year high of $25.25.
Twitter (NYSE:TWTR) last released 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 return on equity of 2.91% and a negative net margin of 18.25%. The business had revenue of $574 million for the quarter, compared to analyst estimates of $536.63 million. During the same quarter last year, the firm posted $0.13 earnings per share. The business’s revenue was down 4.7% compared to the same quarter last year. Analysts forecast that Twitter, Inc. will post $0.34 earnings per share for the current year.
TWTR has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Twitter from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Tuesday, June 27th. Wells Fargo & Company reissued a “hold” rating and issued a $14.50 price objective on shares of Twitter in a research report on Friday, May 12th. BidaskClub downgraded shares of Twitter from a “hold” rating to a “sell” rating in a research report on Friday, June 16th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $20.00 price objective on shares of Twitter in a research report on Sunday, July 30th. Finally, BTIG Research reissued a “buy” rating on shares of Twitter in a research report on Friday, April 28th. Sixteen equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and six have issued a buy rating to the stock. Twitter has an average rating of “Hold” and a consensus price target of $15.59.
In other news, insider Robert Kaiden sold 2,815 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $18.37, for a total transaction of $51,711.55. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Vijaya Gadde sold 15,000 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $16.07, for a total value of $241,050.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,352,873 shares of company stock worth $42,761,829. Insiders own 9.18% of the company’s stock.
Twitter Company Profile
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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