Twitter, Inc. (TWTR) Shares Bought by Contrarius Investment Management Ltd
Contrarius Investment Management Ltd increased its position in shares of Twitter, Inc. (NYSE:TWTR) by 17.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,553,048 shares of the social networking company’s stock after buying an additional 822,455 shares during the period. Twitter comprises 6.6% of Contrarius Investment Management Ltd’s portfolio, making the stock its 3rd largest position. Contrarius Investment Management Ltd owned about 0.76% of Twitter worth $99,233,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Mosaic Family Wealth LLC increased its stake in Twitter by 14.2% in the first quarter. Mosaic Family Wealth LLC now owns 7,034 shares of the social networking company’s stock worth $105,000 after buying an additional 875 shares during the period. Advisory Services Network LLC bought a new stake in Twitter during the first quarter worth about $107,000. Westside Investment Management Inc. increased its stake in Twitter by 46.0% in the first quarter. Westside Investment Management Inc. now owns 10,454 shares of the social networking company’s stock worth $152,000 after buying an additional 3,295 shares during the period. Gilder Gagnon Howe & Co. LLC increased its stake in 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 buying an additional 4,645 shares during the period. Finally, Stratos Wealth Partners LTD. acquired a new stake in shares of Twitter during the first quarter valued at $159,000. 49.16% of the stock is currently owned by institutional investors and hedge funds.
Shares of Twitter, Inc. (TWTR) traded up 0.030% during midday trading on Tuesday, reaching $16.775. 734,871 shares of the company were exchanged. Twitter, Inc. has a 52-week low of $14.12 and a 52-week high of $25.25. The firm’s 50 day moving average is $17.54 and its 200-day moving average is $16.82. The company’s market capitalization is $12.30 billion.
Twitter (NYSE:TWTR) last released its earnings results on Thursday, July 27th. The social networking company reported $0.08 earnings per share for the quarter, beating the 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 firm had revenue of $574 million for the quarter, compared to analyst estimates of $536.63 million. During the same quarter in the prior year, the firm posted $0.13 earnings per share. The company’s quarterly revenue was down 4.7% on a year-over-year basis. On average, equities analysts forecast that Twitter, Inc. will post $0.33 earnings per share for the current fiscal year.
Several equities research analysts recently weighed in on the stock. MKM Partners reaffirmed a “neutral” rating and set a $18.00 target price (up from $16.00) on shares of Twitter in a research note on Thursday, August 10th. KeyCorp reaffirmed a “hold” rating on shares of Twitter in a research note on Friday. Cowen and Company reaffirmed an “underperform” rating and set a $14.00 target price (up from $12.00) on shares of Twitter in a research note on Friday, July 28th. Mizuho assumed coverage on shares of Twitter in a research note on Monday, August 7th. They set an “underperform” rating and a $14.50 target price on the stock. Finally, Citigroup Inc. reaffirmed a “sell” rating and set a $12.00 target price on shares of Twitter in a research note on Thursday, August 10th. Sixteen analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $15.49.
In other news, Director Evan Clark Williams sold 853,700 shares of the firm’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $19.38, for a total transaction of $16,544,706.00. Following the sale, the director now owns 2,735,038 shares of the company’s stock, valued at $53,005,036.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, General Counsel Vijaya Gadde sold 15,000 shares of the firm’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $17.46, for a total value of $261,900.00. The disclosure for this sale can be found here. Insiders sold 2,489,473 shares of company stock worth $45,041,152 in the last three months. 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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