Alps Advisors Inc. Raises Stake in Twitter, Inc. (TWTR)
Alps Advisors Inc. raised its position in Twitter, Inc. (NYSE:TWTR) by 78.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 18,561 shares of the social networking company’s stock after buying an additional 8,142 shares during the period. Alps Advisors Inc.’s holdings in Twitter were worth $332,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Stoneridge Investment Partners LLC acquired a new stake in shares of Twitter during the first quarter worth $4,776,000. Great West Life Assurance Co. Can boosted its stake in shares of Twitter by 2.7% in the first quarter. Great West Life Assurance Co. Can now owns 660,273 shares of the social networking company’s stock worth $9,880,000 after buying an additional 17,402 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Twitter by 1.7% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 84,963 shares of the social networking company’s stock worth $1,270,000 after buying an additional 1,411 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Twitter during the first quarter worth $107,000. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Twitter by 39.4% in the first quarter. Canada Pension Plan Investment Board now owns 321,810 shares of the social networking company’s stock worth $4,811,000 after buying an additional 90,882 shares during the period. 49.16% of the stock is currently owned by institutional investors.
Twitter, Inc. (NYSE TWTR) opened at 16.93 on Wednesday. The company has a 50-day moving average price of $17.54 and a 200-day moving average price of $16.82. The firm’s market cap is $12.41 billion. Twitter, Inc. has a 12-month low of $14.12 and a 12-month high of $25.25.
Twitter (NYSE:TWTR) last posted its earnings results on Thursday, July 27th. The social networking company reported $0.08 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 company had revenue of $574 million for the quarter, compared to analyst estimates of $536.63 million. During the same quarter last year, the company earned $0.13 earnings per share. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, analysts predict that Twitter, Inc. will post $0.33 earnings per share for the current year.
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A number of analysts have weighed in on the stock. J P Morgan Chase & Co reissued a “neutral” rating and set a $15.00 target price on shares of Twitter in a report on Saturday, July 22nd. Morgan Stanley reissued an “underweight” rating and set a $10.00 target price on shares of Twitter in a report on Saturday, July 22nd. Wells Fargo & Company reissued a “market perform” rating on shares of Twitter in a report on Saturday, July 22nd. Canaccord Genuity reissued a “hold” rating and set a $15.00 target price on shares of Twitter in a report on Monday, July 24th. Finally, Wedbush cut shares of Twitter from an “outperform” rating to a “neutral” rating and increased their target price for the stock from $14.00 to $16.00 in a report on Monday, July 24th. Sixteen investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $15.49.
In other news, General Counsel Vijaya Gadde sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $17.46, for a total value of $261,900.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Evan Clark Williams sold 853,700 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $19.38, for a total value of $16,544,706.00. Following the completion of the transaction, the director now owns 2,735,038 shares in the company, valued at approximately $53,005,036.44. The disclosure for this sale can be found here. Insiders sold 2,116,373 shares of company stock worth $38,183,574 in the last 90 days. Corporate 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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