Great West Life Assurance Co. Can decreased its stake in Twitter, Inc. (NYSE:TWTR) by 52.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 342,105 shares of the social networking company’s stock after selling 384,208 shares during the period. Great West Life Assurance Co. Can’s holdings in Twitter were worth $5,755,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in TWTR. Toronto Dominion Bank raised its position in shares of Twitter by 21.3% in the second quarter. Toronto Dominion Bank now owns 7,592 shares of the social networking company’s stock valued at $136,000 after purchasing an additional 1,333 shares during the period. Malaga Cove Capital LLC purchased a new position in Twitter during the third quarter valued at approximately $154,000. Gilder Gagnon Howe & Co. LLC grew its stake in Twitter by 112.3% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 8,781 shares of the social networking company’s stock valued at $157,000 after acquiring an additional 4,645 shares in the last quarter. Federated Investors Inc. PA purchased a new position in Twitter during the second quarter valued at approximately $174,000. Finally, Berkshire Asset Management LLC PA purchased a new position in Twitter during the third quarter valued at approximately $184,000. 50.83% of the stock is currently owned by institutional investors and hedge funds.
Twitter, Inc. (NYSE TWTR) traded up $0.14 during trading on Friday, hitting $21.15. 6,913,184 shares of the stock traded hands, compared to its average volume of 17,390,984. The company has a current ratio of 10.40, a quick ratio of 10.40 and a debt-to-equity ratio of 0.35. Twitter, Inc. has a 52-week low of $14.12 and a 52-week high of $22.48.
Twitter (NYSE:TWTR) last posted its earnings results on Thursday, October 26th. The social networking company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. Twitter had a negative net margin of 15.08% and a negative return on equity of 1.21%. The firm had revenue of $590.00 million during the quarter, compared to analyst estimates of $586.22 million. During the same period last year, the firm posted $0.09 earnings per share. Twitter’s revenue for the quarter was down 4.2% compared to the same quarter last year. analysts anticipate that Twitter, Inc. will post 0.02 earnings per share for the current fiscal year.
A number of equities analysts have commented on TWTR shares. Goldman Sachs Group set a $26.00 price target on shares of Twitter and gave the stock a “buy” rating in a research note on Friday, October 27th. Vetr lowered shares of Twitter from a “strong-buy” rating to a “buy” rating and set a $19.82 price target for the company. in a report on Wednesday, October 4th. Susquehanna Bancshares upped their price target on shares of 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, Robert W. Baird reiterated a “hold” rating and issued a $17.00 price target on shares of Twitter in a research note on Friday, September 1st. Twelve analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $17.99.
In other Twitter news, General Counsel Vijaya Gadde sold 135,000 shares of Twitter stock in a transaction on Friday, November 10th. The shares were sold at an average price of $19.92, for a total transaction of $2,689,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Evan Clark Williams sold 1,982,985 shares of Twitter stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $21.12, for a total transaction of $41,880,643.20. Following the transaction, the director now directly owns 2,401,747 shares of the company’s stock, valued at $50,724,896.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,032,830 shares of company stock valued at $122,125,443. 10.79% of the stock is currently owned by insiders.
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Twitter Company Profile
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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