Capital Asset Advisory Services LLC bought a new position in Twitter, Inc. (NYSE:TWTR) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,856 shares of the social networking company’s stock, valued at approximately $101,000.
Other large investors have also made changes to their positions in the company. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Twitter during the fourth quarter valued at $1,154,000. B. Riley Wealth Management Inc. lifted its holdings in shares of Twitter by 59.6% during the fourth quarter. B. Riley Wealth Management Inc. now owns 26,899 shares of the social networking company’s stock valued at $1,457,000 after purchasing an additional 10,046 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Twitter by 388.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,226 shares of the social networking company’s stock valued at $66,000 after purchasing an additional 975 shares in the last quarter. Virginia Retirement Systems ET AL bought a new position in shares of Twitter during the fourth quarter valued at $10,830,000. Finally, ING Groep NV lifted its holdings in shares of Twitter by 161.0% during the fourth quarter. ING Groep NV now owns 165,932 shares of the social networking company’s stock valued at $8,985,000 after purchasing an additional 102,357 shares in the last quarter. 73.17% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Matthew Derella sold 21,438 shares of the firm’s stock in a transaction that occurred on Wednesday, February 3rd. The stock was sold at an average price of $54.78, for a total transaction of $1,174,373.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Fox Martha Lane sold 1,301 shares of the firm’s stock in a transaction that occurred on Friday, February 26th. The stock was sold at an average price of $76.93, for a total value of $100,085.93. The disclosure for this sale can be found here. Insiders sold a total of 80,695 shares of company stock valued at $4,673,387 over the last ninety days. Corporate insiders own 2.64% of the company’s stock.
Twitter (NYSE:TWTR) last posted its quarterly earnings data on Tuesday, February 9th. The social networking company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.07. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.19 billion. Twitter had a negative return on equity of 12.42% and a negative net margin of 31.70%. The company’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same period last year, the company earned $0.25 EPS. As a group, analysts expect that Twitter, Inc. will post -1.16 earnings per share for the current fiscal year.
A number of research analysts have recently issued reports on the company. Evercore ISI initiated coverage on Twitter in a report on Tuesday. They set an “in-line” rating and a $75.00 price target on the stock. JPMorgan Chase & Co. increased their target price on Twitter from $77.00 to $91.00 and gave the company an “overweight” rating in a report on Friday, February 26th. UBS Group increased their target price on Twitter from $52.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday, February 10th. They noted that the move was a valuation call. Truist raised Twitter from a “hold” rating to a “buy” rating and increased their target price for the company from $64.00 to $74.00 in a report on Monday, March 29th. Finally, Rosenblatt Securities increased their target price on Twitter from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Thursday, March 4th. One equities research analyst has rated the stock with a sell rating, twenty-two have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Twitter has a consensus rating of “Hold” and an average target price of $65.16.
Twitter, Inc operates as a platform for public self-expression and conversation in real time United States, Japan, and internationally. The company offers Twitter, a platform that allows users to consume, create, distribute, and discover content. It also provides promoted products and services, such as promoted tweets, promoted accounts, and promoted trends, which enable its advertisers to promote their brands, products, and services.
Further Reading: Outstanding Shares and The Effect on Share Price
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