California State Teachers Retirement System Cuts Holdings in Twitter Inc (TWTR)
California State Teachers Retirement System lowered its position in shares of Twitter Inc (NYSE:TWTR) by 8.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,157,314 shares of the social networking company’s stock after selling 112,367 shares during the quarter. California State Teachers Retirement System owned about 0.16% of Twitter worth $19,524,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in TWTR. Northern Trust Corp raised its position in shares of Twitter by 78.3% during the 2nd quarter. Northern Trust Corp now owns 8,350,037 shares of the social networking company’s stock worth $149,215,000 after purchasing an additional 3,667,233 shares during the period. Vanguard Group Inc. raised its position in shares of Twitter by 6.2% during the 2nd quarter. Vanguard Group Inc. now owns 48,836,225 shares of the social networking company’s stock worth $872,704,000 after purchasing an additional 2,838,459 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Twitter during the 2nd quarter worth approximately $43,694,000. Amerigo Asset Management raised its position in shares of Twitter by 46.2% during the 3rd quarter. Amerigo Asset Management now owns 6,875,910 shares of the social networking company’s stock worth $115,997,000 after purchasing an additional 2,172,000 shares during the period. Finally, Apertura Capital LLC acquired a new stake in shares of Twitter during the 2nd quarter worth approximately $35,740,000. Hedge funds and other institutional investors own 50.69% of the company’s stock.
A number of brokerages have recently weighed in on TWTR. Argus upgraded Twitter to a “buy” rating and increased their price target for the stock from $25.00 to $30.00 in a research report on Wednesday. Vetr cut Twitter from a “strong-buy” rating to a “buy” rating and set a $25.02 price target on the stock. in a research report on Friday, December 15th. J P Morgan Chase & Co upgraded Twitter from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $20.00 to $27.00 in a research report on Monday. Summit Redstone started coverage on Twitter in a research report on Monday. They set a “buy” rating and a $26.00 price target on the stock. Finally, Canaccord Genuity raised their target price on Twitter from $15.00 to $19.00 and gave the company a “hold” rating in a research report on Friday, October 27th. Twelve equities research analysts have rated the stock with a sell rating, twenty have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $18.53.
Twitter Inc (NYSE:TWTR) opened at $25.08 on Wednesday. Twitter Inc has a 1-year low of $14.12 and a 1-year high of $25.49. The company has a quick ratio of 10.40, a current ratio of 10.40 and a debt-to-equity ratio of 0.35.
Twitter (NYSE:TWTR) last posted its earnings results on Thursday, October 26th. The social networking company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $590.00 million for the quarter, compared to analyst estimates of $586.22 million. During the same period last year, the company earned $0.09 earnings per share. The business’s revenue was down 4.2% compared to the same quarter last year. research analysts predict that Twitter Inc will post 0.02 earnings per share 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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