Oppenheimer & Co. Inc. lessened its stake in shares of Twitter, Inc. (NYSE:TWTR) by 13.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 62,078 shares of the social networking company’s stock after selling 9,714 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Twitter were worth $1,110,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of TWTR. Capstone Asset Management Co. increased its stake in shares of Twitter by 18.5% during the first quarter. Capstone Asset Management Co. now owns 16,680 shares of the social networking company’s stock valued at $249,000 after acquiring an additional 2,600 shares during the period. ProShare Advisors LLC increased its stake in shares of Twitter by 14.2% during the first quarter. ProShare Advisors LLC now owns 14,669 shares of the social networking company’s stock valued at $219,000 after acquiring an additional 1,825 shares during the period. Strs Ohio increased its stake in shares of Twitter by 9.9% during the first quarter. Strs Ohio now owns 48,272 shares of the social networking company’s stock valued at $721,000 after acquiring an additional 4,334 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Twitter by 39.4% during the first quarter. Canada Pension Plan Investment Board now owns 321,810 shares of the social networking company’s stock valued at $4,811,000 after acquiring an additional 90,882 shares during the period. Finally, Advisory Services Network LLC acquired a new position in shares of Twitter during the first quarter valued at approximately $107,000. Institutional investors and hedge funds own 49.17% of the company’s stock.
A number of research analysts recently commented on the stock. J P Morgan Chase & Co reiterated a “neutral” rating and set a $15.00 price objective on shares of Twitter in a research note on Saturday, July 22nd. Morgan Stanley reiterated an “underweight” rating and set a $10.00 price objective on shares of Twitter in a research note on Saturday, July 22nd. Wells Fargo & Company reiterated a “market perform” rating on shares of Twitter in a research note on Saturday, July 22nd. Canaccord Genuity reiterated a “hold” rating and set a $15.00 price objective on shares of Twitter in a research note on Monday, July 24th. Finally, Wedbush cut shares of Twitter from an “outperform” rating to a “neutral” rating and raised their target price for the stock from $14.00 to $16.00 in a report on Monday, July 24th. Seventeen analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $15.49.
Shares of Twitter, Inc. (NYSE TWTR) opened at 17.45 on Friday. Twitter, Inc. has a 12 month low of $14.12 and a 12 month high of $25.25. The firm’s market capitalization is $12.79 billion. The stock’s 50 day moving average is $16.87 and its 200 day moving average is $16.83. Twitter also was the target of unusually large options trading activity on Thursday. Stock traders bought 40,001 call options on the company. This is an increase of 218% compared to the typical daily volume of 12,588 call options.
Twitter (NYSE:TWTR) last released its quarterly earnings results on Thursday, July 27th. The social networking company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Twitter had a negative net margin of 18.25% and a negative return on equity of 2.91%. The business had revenue of $574 million for the quarter, compared to analyst estimates of $536.63 million. During the same period last year, the firm earned $0.13 earnings per share. Twitter’s revenue for the quarter was down 4.7% compared to the same quarter last year. Equities research analysts forecast that Twitter, Inc. will post $0.33 earnings per share for the current fiscal year.
In related news, Director Evan Clark Williams sold 853,700 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly 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 through this hyperlink. Also, insider Robert Kaiden sold 3,695 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $16.78, for a total transaction of $62,002.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,091,670 shares of company stock worth $37,741,115. 10.79% of the stock is owned by 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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