Quantitative Systematic Strategies LLC Reduces Position in Twitter Inc. (TWTR)
Quantitative Systematic Strategies LLC cut its stake in Twitter Inc. (NYSE:TWTR) by 86.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,793 shares of the social networking company’s stock after selling 70,197 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Twitter were worth $182,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. ING Groep NV increased its stake in shares of Twitter by 12.2% in the second quarter. ING Groep NV now owns 324,421 shares of the social networking company’s stock worth $5,479,000 after buying an additional 35,385 shares during the period. Legal & General Group Plc boosted its position in shares of Twitter by 4.1% in the first quarter. Legal & General Group Plc now owns 1,756,013 shares of the social networking company’s stock worth $29,062,000 after buying an additional 69,951 shares in the last quarter. State Street Corp boosted its position in shares of Twitter by 3.5% in the first quarter. State Street Corp now owns 9,367,582 shares of the social networking company’s stock worth $155,031,000 after buying an additional 317,209 shares in the last quarter. Raymond James Trust N.A. boosted its position in shares of Twitter by 47.0% in the second quarter. Raymond James Trust N.A. now owns 16,500 shares of the social networking company’s stock worth $279,000 after buying an additional 5,279 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Twitter during the first quarter worth $13,056,000. Institutional investors and hedge funds own 41.84% of the company’s stock.
Twitter Inc. (NYSE:TWTR) traded up 0.60% on Tuesday, reaching $16.83. The company’s stock had a trading volume of 18,479,753 shares. The firm’s market capitalization is $11.78 billion. Twitter Inc. has a 52 week low of $13.73 and a 52 week high of $31.87. The company has a 50 day moving average of $19.75 and a 200 day moving average of $17.42.
Twitter (NYSE:TWTR) last issued its earnings results on Tuesday, July 26th. The social networking company reported $0.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.03. The business had revenue of $602 million for the quarter, compared to analysts’ expectations of $606.37 million. Twitter had a negative return on equity of 6.01% and a negative net margin of 16.51%. The business’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 EPS. On average, analysts forecast that Twitter Inc. will post $0.51 earnings per share for the current year.
A number of brokerages recently weighed in on TWTR. Deutsche Bank AG reissued a “buy” rating on shares of Twitter in a report on Sunday, July 10th. MKM Partners set a $18.50 price objective on Twitter and gave the company a “hold” rating in a report on Sunday, September 4th. Pacific Crest reissued a “hold” rating on shares of Twitter in a report on Wednesday, July 27th. Cantor Fitzgerald cut Twitter from a “buy” rating to a “hold” rating in a report on Wednesday, July 27th. Finally, Argus reissued a “hold” rating on shares of Twitter in a report on Thursday, July 28th. Twelve analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $19.42.
In other news, CAO Robert Kaiden sold 12,990 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $16.76, for a total transaction of $217,712.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Adam Messinger sold 4,901 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $23.64, for a total value of $115,859.64. The disclosure for this sale can be found here. Insiders own 10.79% of the company’s stock.
Twitter, Inc (Twitter) offers products and services for users, advertisers, developers and platform and data partners. The Company’s service is live-live commentary, live connections, live conversations. Its products and services for users include Twitter, and Periscope and Vine. Its Twitter is a platform for public self-expression and conversation in real time.
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