Daiwa Securities Group Inc. Decreases Holdings in Twitter, Inc. (TWTR)
Daiwa Securities Group Inc. cut its holdings in shares of Twitter, Inc. (NYSE:TWTR) by 47.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 245,861 shares of the social networking company’s stock after selling 222,046 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Twitter were worth $4,147,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in TWTR. Toronto Dominion Bank boosted its position in Twitter by 21.3% during the 2nd quarter. Toronto Dominion Bank now owns 7,592 shares of the social networking company’s stock worth $136,000 after acquiring an additional 1,333 shares during the period. Gilder Gagnon Howe & Co. LLC boosted its position in Twitter by 112.3% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 8,781 shares of the social networking company’s stock worth $157,000 after acquiring an additional 4,645 shares during the period. Federated Investors Inc. PA acquired a new stake in Twitter during the 2nd quarter worth about $174,000. Berkshire Asset Management LLC PA acquired a new stake in Twitter during the 3rd quarter worth about $184,000. Finally, NEXT Financial Group Inc boosted its position in Twitter by 6.3% during the 2nd quarter. NEXT Financial Group Inc now owns 11,030 shares of the social networking company’s stock worth $197,000 after acquiring an additional 650 shares during the period. Hedge funds and other institutional investors own 49.68% of the company’s stock.
Shares of Twitter, Inc. (TWTR) opened at $19.90 on Friday. Twitter, Inc. has a 52-week low of $14.12 and a 52-week high of $21.96. The company has a current ratio of 10.40, a quick ratio of 10.40 and a debt-to-equity ratio of 0.35.
Twitter (NYSE:TWTR) last released its earnings results on Thursday, October 26th. The social networking company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. The company had revenue of $590.00 million during the quarter, compared to the consensus estimate of $586.22 million. Twitter had a negative return on equity of 1.21% and a negative net margin of 15.08%. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.09 earnings per share. equities analysts anticipate that Twitter, Inc. will post 0.02 earnings per share for the current fiscal year.
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In related news, insider Robert Kaiden sold 5,926 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $19.51, for a total value of $115,616.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Evan Clark Williams sold 2,000,300 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $21.06, for a total value of $42,126,318.00. Following the completion of the sale, the director now owns 2,530,241 shares of the company’s stock, valued at approximately $53,286,875.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,486,445 shares of company stock valued at $68,390,081. 10.79% of the stock is currently owned by corporate insiders.
A number of equities research analysts have commented on TWTR shares. Vetr upgraded Twitter from a “buy” rating to a “strong-buy” rating and set a $19.82 price objective for the company in a research report on Monday, October 23rd. Stifel Nicolaus raised Twitter from a “sell” rating to a “hold” rating and raised their price target for the stock from $12.00 to $17.00 in a research note on Thursday, October 26th. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Twitter in a research note on Saturday, July 22nd. BidaskClub raised Twitter from a “hold” rating to a “buy” rating in a research note on Friday, September 15th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $20.00 price target on shares of Twitter in a research note on Sunday, July 30th. Twelve research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $17.67.
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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