DAVENPORT & Co LLC Sells 18,500 Shares of Twitter Inc (TWTR)
DAVENPORT & Co LLC decreased its position in Twitter Inc (NYSE:TWTR) by 68.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,676 shares of the social networking company’s stock after selling 18,500 shares during the quarter. DAVENPORT & Co LLC’s holdings in Twitter were worth $208,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Twitter by 6.2% in the 2nd quarter. Vanguard Group Inc. now owns 48,836,225 shares of the social networking company’s stock valued at $872,704,000 after purchasing an additional 2,838,459 shares during the period. Northern Trust Corp grew its holdings in shares of Twitter by 78.3% in the 2nd quarter. Northern Trust Corp now owns 8,350,037 shares of the social networking company’s stock valued at $149,215,000 after acquiring an additional 3,667,233 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Twitter by 5.3% in the 3rd quarter. First Trust Advisors LP now owns 7,633,764 shares of the social networking company’s stock valued at $128,782,000 after acquiring an additional 385,181 shares in the last quarter. Amerigo Asset Management grew its holdings in shares of Twitter by 46.2% in the 3rd quarter. Amerigo Asset Management now owns 6,875,910 shares of the social networking company’s stock valued at $115,997,000 after acquiring an additional 2,172,000 shares in the last quarter. Finally, Contrarius Investment Management Ltd grew its holdings in shares of Twitter by 1.3% in the 3rd quarter. Contrarius Investment Management Ltd now owns 5,624,420 shares of the social networking company’s stock valued at $94,884,000 after acquiring an additional 71,372 shares in the last quarter. 50.69% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Twitter Inc (TWTR) opened at $24.56 on Thursday. The company has a current ratio of 10.40, a quick ratio of 10.40 and a debt-to-equity ratio of 0.35. The stock has a market cap of $18,240.00, a P/E ratio of -48.16, a price-to-earnings-growth ratio of 11.08 and a beta of 1.11. Twitter Inc has a 1 year low of $14.12 and a 1 year high of $25.85.
Twitter (NYSE:TWTR) last issued its quarterly earnings data on Thursday, October 26th. The social networking company reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.03. The firm had revenue of $590.00 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period last year, the business posted $0.09 earnings per share. sell-side analysts anticipate that Twitter Inc will post 0.02 EPS for the current fiscal year.
Several equities analysts have recently weighed in on TWTR shares. Goldman Sachs Group set a $26.00 price objective on Twitter and gave the company a “buy” rating in a report on Friday, October 27th. Vetr cut Twitter from a “strong-buy” rating to a “buy” rating and set a $19.82 price objective for the company. in a report on Wednesday, October 4th. Susquehanna Bancshares raised their price objective on Twitter from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, October 26th. Morgan Stanley restated an “underweight” rating and issued a $10.00 price objective on shares of Twitter in a report on Monday, October 2nd. Finally, Wells Fargo & Co raised their price objective on Twitter from $16.00 to $19.00 and gave the company a “market perform” rating in a report on Friday, October 27th. Ten research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $19.62.
In other Twitter news, insider Robert Kaiden sold 1,186 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $24.44, for a total transaction of $28,985.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Evan Clark Williams sold 2,000,300 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The stock was 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 of the company’s stock, valued at $53,286,875.46. The disclosure for this sale can be found here. Insiders have sold 5,320,712 shares of company stock valued at $113,341,301 over the last 90 days. Company insiders own 9.18% of the company’s stock.
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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