CIBC Asset Management Inc increased its holdings in shares of Twitter, Inc. (NYSE:TWTR) by 12.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,948 shares of the social networking company’s stock after purchasing an additional 3,225 shares during the period. CIBC Asset Management Inc’s holdings in Twitter were worth $505,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Toronto Dominion Bank lifted its holdings in shares of Twitter by 21.3% during the 2nd 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 in the last quarter. Gilder Gagnon Howe & Co. LLC lifted its stake in Twitter by 112.3% in the 2nd 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 bought a new stake in Twitter in the 2nd quarter valued at approximately $174,000. Berkshire Asset Management LLC PA bought a new stake in Twitter in the 3rd quarter valued at approximately $184,000. Finally, EP Wealth Advisors LLC bought a new stake in Twitter in the 2nd quarter valued at approximately $211,000. Institutional investors and hedge funds own 49.75% of the company’s stock.
In other Twitter news, Director Evan Clark Williams sold 565,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $20.08, for a total value of $11,345,200.00. Following the completion of the sale, the director now owns 2,441,312 shares of the company’s stock, valued at $49,021,544.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Kaiden sold 3,695 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $16.78, for a total value of $62,002.10. The disclosure for this sale can be found here. Insiders have sold 4,171,445 shares of company stock valued at $82,183,431 in the last ninety days. 9.18% of the stock is currently owned by insiders.
Several research firms have commented on TWTR. Canaccord Genuity boosted their target price on Twitter from $15.00 to $19.00 and gave the company a “hold” rating in a research note on Friday, October 27th. J P Morgan Chase & Co boosted their target price on Twitter from $16.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, October 30th. Vetr upgraded Twitter from a “hold” rating to a “buy” rating and set a $22.96 target price on the stock in a research note on Monday, October 30th. Zacks Investment Research upgraded Twitter from a “hold” rating to a “strong-buy” rating and set a $25.00 target price on the stock in a research note on Tuesday, October 31st. Finally, Susquehanna Bancshares Inc boosted their target price on Twitter from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, October 26th. Twelve analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Twitter currently has a consensus rating of “Hold” and an average target price of $17.67.
Shares of Twitter, Inc. (NYSE:TWTR) opened at $20.76 on Monday. Twitter, Inc. has a one year low of $14.12 and a one year high of $21.96. The company has a debt-to-equity ratio of 0.35, a current ratio of 10.40 and a quick ratio of 10.40.
Twitter (NYSE:TWTR) last released its earnings results on Thursday, October 26th. The social networking company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.07 by $0.03. Twitter had a negative return on equity of 1.21% and a negative net margin of 15.08%. The business had revenue of $590.00 million during the quarter, compared to analysts’ expectations of $586.22 million. During the same quarter last year, the firm posted $0.09 earnings per share. The firm’s revenue was down 4.2% on a year-over-year basis. sell-side analysts anticipate that Twitter, Inc. will post 0.02 earnings per share for the current fiscal year.
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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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