Balentine LLC Has $115,000 Position in Twitter, Inc. (TWTR)
Balentine LLC increased its position in shares of Twitter, Inc. (NYSE:TWTR) by 86.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,822 shares of the social networking company’s stock after purchasing an additional 3,167 shares during the period. Balentine LLC’s holdings in Twitter were worth $115,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Bank of Montreal Can increased its holdings in shares of Twitter by 60.4% in the second quarter. Bank of Montreal Can now owns 95,349 shares of the social networking company’s stock worth $1,703,000 after acquiring an additional 35,911 shares in the last quarter. Strs Ohio lifted its position in shares of Twitter by 58.0% in the second quarter. Strs Ohio now owns 76,250 shares of the social networking company’s stock valued at $1,362,000 after buying an additional 27,978 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Twitter by 57.5% in the second quarter. Canada Pension Plan Investment Board now owns 507,010 shares of the social networking company’s stock valued at $9,060,000 after buying an additional 185,200 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Twitter by 12.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 999,683 shares of the social networking company’s stock valued at $17,865,000 after buying an additional 114,156 shares during the last quarter. Finally, Wedbush Securities Inc. lifted its position in shares of Twitter by 7.0% in the second quarter. Wedbush Securities Inc. now owns 15,363 shares of the social networking company’s stock valued at $275,000 after buying an additional 1,002 shares during the last quarter. Hedge funds and other institutional investors own 50.83% of the company’s stock.
Shares of Twitter, Inc. (NYSE TWTR) traded up $0.09 on Monday, hitting $21.10. 14,870,500 shares of the stock traded hands, compared to its average volume of 17,380,346. Twitter, Inc. has a 52-week low of $14.12 and a 52-week high of $22.48. The company has a debt-to-equity ratio of 0.35, a current ratio of 10.40 and a quick ratio of 10.40.
Twitter (NYSE:TWTR) last posted its quarterly earnings results on Thursday, October 26th. The social networking company reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.03. The business had revenue of $590.00 million during the quarter, compared to analysts’ expectations of $586.22 million. Twitter had a negative net margin of 15.08% and a negative return on equity of 1.21%. The business’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the company posted $0.09 earnings per share. equities analysts expect that Twitter, Inc. will post 0.02 EPS for the current year.
TWTR has been the subject of several research reports. SunTrust Banks initiated coverage on Twitter in a report on Tuesday, August 15th. They set a “hold” rating and a $16.00 price target for the company. Jefferies Group lowered Twitter from a “buy” rating to a “hold” rating and decreased their target price for the company from $20.00 to $16.00 in a research report on Thursday, August 24th. KeyCorp reissued a “hold” rating on shares of Twitter in a report on Friday, August 25th. Robert W. Baird reaffirmed a “hold” rating and issued a $17.00 target price on shares of Twitter in a report on Friday, September 1st. Finally, ValuEngine downgraded shares of Twitter from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Twelve research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $17.99.
In related news, Director Evan Clark Williams sold 2,000,300 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $21.06, for a total transaction of $42,126,318.00. Following the sale, the director now owns 2,530,241 shares in the company, valued at $53,286,875.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Vijaya Gadde sold 135,000 shares of the firm’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $19.92, for a total transaction of $2,689,200.00. The disclosure for this sale can be found here. Insiders sold 6,032,830 shares of company stock worth $122,125,443 in the last quarter. Company insiders own 9.18% of the company’s stock.
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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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