State of New Jersey Common Pension Fund D cut its stake in Twitter, Inc. (NYSE:TWTR) by 58.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 500,000 shares of the social networking company’s stock after selling 700,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Twitter were worth $8,935,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Mosaic Family Wealth LLC increased its position in shares of Twitter by 14.2% in the first quarter. Mosaic Family Wealth LLC now owns 7,034 shares of the social networking company’s stock valued at $105,000 after buying an additional 875 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Twitter during the first quarter valued at approximately $107,000. Nicolet Bankshares Inc. increased its position in shares of Twitter by 227.6% in the first quarter. Nicolet Bankshares Inc. now owns 7,821 shares of the social networking company’s stock valued at $117,000 after buying an additional 5,434 shares in the last quarter. Westside Investment Management Inc. increased its position in shares of Twitter by 46.0% in the first quarter. Westside Investment Management Inc. now owns 10,454 shares of the social networking company’s stock valued at $152,000 after buying an additional 3,295 shares in the last quarter. Finally, TRUE Private Wealth Advisors acquired a new position in shares of Twitter during the first quarter valued at approximately $153,000. 47.02% of the stock is currently owned by institutional investors.
Shares of Twitter, Inc. (TWTR) opened at 15.75 on Friday. The firm has a 50 day moving average price of $18.06 and a 200 day moving average price of $16.88. Twitter, Inc. has a one year low of $14.12 and a one year high of $25.25. The company’s market capitalization is $11.54 billion.
Twitter (NYSE:TWTR) last issued its earnings results on Thursday, July 27th. The social networking company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates 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 million during the quarter, compared to analyst estimates of $536.63 million. During the same period in the previous year, the company posted $0.13 EPS. The firm’s revenue was down 4.7% compared to the same quarter last year. On average, equities research analysts predict that Twitter, Inc. will post $0.34 EPS for the current fiscal year.
Several research analysts have commented on TWTR shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $20.00 price target on shares of Twitter in a research report on Thursday, April 27th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $20.00 price target on shares of Twitter in a research report on Friday, April 28th. BTIG Research reaffirmed a “buy” rating on shares of Twitter in a research report on Friday, April 28th. Drexel Hamilton reaffirmed a “buy” rating on shares of Twitter in a research report on Tuesday, May 2nd. Finally, Vetr raised Twitter from a “hold” rating to a “buy” rating and set a $18.68 price target on the stock in a research report on Monday, May 29th. Sixteen research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $15.59.
In related news, insider Robert Kaiden sold 2,815 shares of the business’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $18.37, for a total value of $51,711.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Evan Clark Williams sold 853,700 shares of the business’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $19.38, for a total value of $16,544,706.00. Following the completion of the sale, 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 a total of 2,337,873 shares of company stock valued at $42,520,779 over the last ninety days. 10.79% of the stock is currently owned by corporate insiders.
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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