Hartford Investment Management Co. decreased its position in shares of Twitter Inc (NYSE:TWTR) by 18.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 77,797 shares of the social networking company’s stock after selling 17,985 shares during the period. Hartford Investment Management Co.’s holdings in Twitter were worth $2,558,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Teachers Advisors LLC lifted its holdings in shares of Twitter by 6.4% in the third quarter. Teachers Advisors LLC now owns 3,189,281 shares of the social networking company’s stock valued at $90,767,000 after purchasing an additional 190,666 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Twitter by 32.2% in the third quarter. Nordea Investment Management AB now owns 36,673 shares of the social networking company’s stock valued at $1,043,000 after purchasing an additional 8,928 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Twitter by 2.9% in the third quarter. Legal & General Group Plc now owns 3,003,496 shares of the social networking company’s stock valued at $85,480,000 after purchasing an additional 84,695 shares in the last quarter. Belpointe Asset Management LLC bought a new stake in Twitter during the third quarter worth $265,000. Finally, Great Lakes Advisors LLC bought a new stake in Twitter during the third quarter worth $268,000. Hedge funds and other institutional investors own 71.23% of the company’s stock.
In other Twitter news, VP Matthew Derella sold 18,002 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $40.36, for a total value of $726,560.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Robert Kaiden sold 2,603 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $30.67, for a total value of $79,834.01. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 768,168 shares of company stock worth $24,241,404. 2.65% of the stock is owned by insiders.
Shares of NYSE TWTR traded up $0.22 during midday trading on Friday, hitting $37.41. 8,768,971 shares of the stock traded hands, compared to its average volume of 15,015,797. The stock has a market capitalization of $28.59 billion, a price-to-earnings ratio of 68.02, a PEG ratio of 2.50 and a beta of 0.59. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.47 and a quick ratio of 4.47. Twitter Inc has a one year low of $26.19 and a one year high of $47.79.
Twitter (NYSE:TWTR) last announced its earnings results on Tuesday, April 23rd. The social networking company reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.31. Twitter had a return on equity of 8.37% and a net margin of 42.20%. The company had revenue of $787.00 million for the quarter, compared to analysts’ expectations of $775.16 million. During the same period last year, the firm earned $0.16 EPS. Twitter’s revenue for the quarter was up 18.3% compared to the same quarter last year. Equities research analysts anticipate that Twitter Inc will post 0.64 EPS for the current year.
A number of brokerages recently commented on TWTR. Consumer Edge began coverage on Twitter in a report on Friday, May 17th. They set an “equal weight” rating and a $38.30 price target on the stock. Zacks Investment Research raised Twitter from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research report on Friday, April 26th. Jefferies Financial Group raised their target price on Twitter from $33.00 to $41.00 and gave the stock a “hold” rating in a research report on Wednesday, April 24th. Wells Fargo & Co lifted their price target on Twitter from $33.00 to $40.00 and gave the company a “market perform” rating in a research report on Wednesday, April 24th. Finally, Deutsche Bank lifted their price target on Twitter from $35.00 to $39.00 and gave the company a “hold” rating in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and fifteen have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $39.72.
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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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