FIL Ltd cut its stake in Twitter Inc (NYSE:TWTR) by 48.0% in the first quarter, Holdings Channel reports. The fund owned 492,437 shares of the social networking company’s stock after selling 454,877 shares during the period. FIL Ltd’s holdings in Twitter were worth $16,191,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in TWTR. Vanguard Group Inc boosted its position in Twitter by 2.7% during the 3rd quarter. Vanguard Group Inc now owns 70,255,589 shares of the social networking company’s stock worth $1,999,474,000 after acquiring an additional 1,830,649 shares during the last quarter. Northern Trust Corp lifted its holdings in Twitter by 3.9% during the 4th quarter. Northern Trust Corp now owns 10,706,757 shares of the social networking company’s stock valued at $307,712,000 after purchasing an additional 397,903 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Twitter by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 9,133,563 shares of the social networking company’s stock valued at $262,033,000 after purchasing an additional 569,560 shares during the last quarter. First Trust Advisors LP increased its position in Twitter by 23.1% during the 1st quarter. First Trust Advisors LP now owns 8,908,905 shares of the social networking company’s stock worth $292,925,000 after buying an additional 1,673,894 shares during the period. Finally, Norges Bank bought a new position in Twitter during the 4th quarter worth $202,600,000. 67.11% of the stock is owned by institutional investors.
NYSE:TWTR opened at $37.21 on Wednesday. Twitter Inc has a fifty-two week low of $26.19 and a fifty-two week high of $47.79. The company has a market cap of $29.15 billion, a price-to-earnings ratio of 67.65, a P/E/G ratio of 2.53 and a beta of 0.69. The company has a current ratio of 4.47, a quick ratio of 4.47 and a debt-to-equity ratio of 0.34.
TWTR has been the topic of a number of recent analyst reports. BTIG Research restated a “buy” rating and issued a $42.00 price target (up previously from $30.00) on shares of Twitter in a research report on Tuesday, February 12th. Aegis lifted their price objective on Twitter from $41.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Twitter in a research note on Tuesday, April 23rd. Zacks Investment Research raised Twitter from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Thursday, April 11th. Finally, Guggenheim lifted their price objective on Twitter from $33.00 to $41.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and sixteen have given a buy rating to the company. Twitter currently has an average rating of “Hold” and an average price target of $39.65.
In related news, VP Matthew Derella sold 18,002 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $40.36, for a total transaction of $726,560.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael Montano sold 1,250 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $34.69, for a total transaction of $43,362.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 88,265 shares of company stock worth $3,352,090. 2.65% of the stock is currently owned by insiders.
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Twitter, Inc operates as a platform for public self-expression and conversation in real time. The company offers various products and services, including Twitter, a platform that allows users to consume, create, distribute, and discover content; and Periscope, a mobile application that enables user to broadcast and watch video live with others.
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