Hillhouse Capital Management Ltd. Has $20 Million Stake in Twitter, Inc. (TWTR)
Hillhouse Capital Management Ltd. grew its stake in Twitter, Inc. (NYSE:TWTR) by 2,852.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,119,000 shares of the social networking company’s stock after purchasing an additional 1,081,100 shares during the quarter. Twitter comprises approximately 0.3% of Hillhouse Capital Management Ltd.’s holdings, making the stock its 25th largest holding. Hillhouse Capital Management Ltd. owned 0.15% of Twitter worth $19,997,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of TWTR. Gilder Gagnon Howe & Co. LLC increased its holdings in shares of Twitter by 112.3% in the second 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 in the last quarter. Federated Investors Inc. PA acquired a new stake in Twitter during the 2nd quarter worth approximately $174,000. NEXT Financial Group Inc lifted its stake in Twitter by 6.3% in the second quarter. NEXT Financial Group Inc now owns 11,030 shares of the social networking company’s stock valued at $197,000 after buying an additional 650 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Twitter by 3.3% in the first quarter. Pacer Advisors Inc. now owns 14,272 shares of the social networking company’s stock valued at $213,000 after buying an additional 456 shares in the last quarter. Finally, Fiera Capital Corp bought a new position in Twitter in the second quarter valued at approximately $213,000. 49.14% of the stock is currently owned by institutional investors.
In related news, General Counsel Vijaya Gadde sold 15,000 shares of the firm’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $18.28, for a total value of $274,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Evan Clark Williams sold 853,700 shares of the firm’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $19.38, for a total transaction of $16,544,706.00. Following the completion of the transaction, the director now directly owns 2,735,038 shares of the company’s stock, valued at $53,005,036.44. The disclosure for this sale can be found here. Insiders sold 2,253,600 shares of company stock worth $40,779,711 in the last three months. Insiders own 9.18% of the company’s stock.
Twitter, Inc. (TWTR) traded up 0.23% during mid-day trading on Wednesday, hitting $17.63. The company’s stock had a trading volume of 7,955,860 shares. The stock’s market cap is $12.92 billion. The company’s 50 day moving average is $17.06 and its 200-day moving average is $17.08. Twitter, Inc. has a 52-week low of $14.12 and a 52-week high of $25.25.
Twitter (NYSE:TWTR) last posted its quarterly earnings results on Thursday, July 27th. The social networking company reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ 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 business had revenue of $574.00 million during the quarter, compared to the consensus estimate of $536.63 million. During the same period in the prior year, the company posted $0.13 EPS. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. On average, equities analysts predict that Twitter, Inc. will post $0.33 EPS for the current fiscal year.
Several research analysts have recently weighed in on TWTR shares. Vetr raised Twitter from a “buy” rating to a “strong-buy” rating and set a $19.17 price objective for the company in a research report on Monday, June 12th. BidaskClub upgraded shares of Twitter from a “sell” rating to a “hold” rating in a report on Saturday, June 24th. Zacks Investment Research upgraded shares of Twitter from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Tuesday, June 27th. Wells Fargo & Company reissued a “market perform” rating on shares of Twitter in a research report on Saturday, July 22nd. Finally, Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $20.00 target price on shares of Twitter in a report on Sunday, July 30th. Fifteen research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $15.44.
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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