Seven Eight Capital LP Invests $619,000 in Twitter, Inc. (TWTR)
Seven Eight Capital LP bought a new position in shares of Twitter, Inc. (NYSE:TWTR) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 34,630 shares of the social networking company’s stock, valued at approximately $619,000.
Several other hedge funds have also recently bought and sold shares of TWTR. Clearbridge Investments LLC lifted its position in Twitter by 17.8% in the 1st quarter. Clearbridge Investments LLC now owns 36,805,927 shares of the social networking company’s stock valued at $550,249,000 after acquiring an additional 5,561,940 shares in the last quarter. OppenheimerFunds Inc. lifted its position in Twitter by 42.3% in the 1st quarter. OppenheimerFunds Inc. now owns 10,088,428 shares of the social networking company’s stock valued at $150,822,000 after acquiring an additional 2,999,690 shares in the last quarter. ANTIPODES PARTNERS Ltd bought a new position in Twitter in the 2nd quarter valued at approximately $38,366,000. Apertura Capital LLC bought a new position in Twitter in the 2nd quarter valued at approximately $35,740,000. Finally, Vanguard Group Inc. lifted its position in Twitter by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 45,997,766 shares of the social networking company’s stock valued at $687,667,000 after acquiring an additional 1,819,941 shares in the last quarter. Hedge funds and other institutional investors own 49.17% of the company’s stock.
TWTR has been the topic of several research analyst reports. Vetr raised Twitter from a “hold” rating to a “buy” rating and set a $18.35 price target on the stock in a report on Tuesday, June 6th. OTR Global raised Twitter from a “negative” rating to a “mixed” rating in a report on Thursday, July 13th. Royal Bank Of Canada reissued an “underperform” rating on shares of Twitter in a report on Saturday, June 3rd. Pivotal Research reissued a “hold” rating and set a $17.00 price target (up from $15.00) on shares of Twitter in a report on Monday, July 17th. Finally, Wells Fargo & Company reissued a “market perform” rating on shares of Twitter in a report on Saturday, July 22nd. Seventeen analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $15.49.
In other Twitter news, Director Evan Clark Williams sold 853,700 shares of the firm’s stock in a transaction on 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 approximately $53,005,036.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Kaiden sold 3,695 shares of the firm’s stock in a transaction on 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. Insiders sold a total of 2,361,870 shares of company stock worth $43,006,805 over the last ninety days. Insiders own 10.79% of the company’s stock.
Twitter, Inc. (TWTR) opened at 18.01 on Friday. The company’s 50-day moving average is $16.69 and its 200-day moving average is $16.90. Twitter, Inc. has a 52-week low of $14.12 and a 52-week high of $25.25. The firm’s market capitalization is $13.20 billion.
Twitter (NYSE:TWTR) last posted its earnings results on Thursday, July 27th. The social networking company reported $0.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.03. The firm had revenue of $574.00 million for the quarter, compared to the consensus estimate of $536.63 million. Twitter had a negative net margin of 18.25% and a negative return on equity of 2.91%. The company’s revenue was down 4.7% on a year-over-year basis. During the same period last year, the firm posted $0.13 EPS. On average, analysts predict that Twitter, Inc. will post $0.33 EPS for the current year.
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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