Canada Pension Plan Investment Board Purchases 2,948,050 Shares of Twitter Inc (TWTR)
Canada Pension Plan Investment Board grew its position in shares of Twitter Inc (NYSE:TWTR) by 820.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,307,199 shares of the social networking company’s stock after buying an additional 2,948,050 shares during the period. Canada Pension Plan Investment Board owned 0.43% of Twitter worth $95,042,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of TWTR. Financial Gravity Companies Inc. purchased a new stake in Twitter during the 4th quarter worth about $27,000. Legacy Financial Advisors Inc. lifted its holdings in Twitter by 5,495.2% during the 4th quarter. Legacy Financial Advisors Inc. now owns 1,175 shares of the social networking company’s stock worth $34,000 after purchasing an additional 1,154 shares in the last quarter. Rehmann Capital Advisory Group lifted its holdings in Twitter by 50.2% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,834 shares of the social networking company’s stock worth $52,000 after purchasing an additional 613 shares in the last quarter. Ipswich Investment Management Co. Inc. purchased a new stake in Twitter during the 4th quarter worth about $52,000. Finally, Essex Savings Bank purchased a new stake in Twitter during the 4th quarter worth about $62,000. 64.38% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Twitter stock opened at $31.23 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 4.61 and a current ratio of 4.69. The stock has a market cap of $23.77 billion, a PE ratio of 56.78, a PEG ratio of 2.79 and a beta of 0.43. Twitter Inc has a 12 month low of $26.19 and a 12 month high of $47.79.
In other news, CAO Robert Kaiden sold 4,676 shares of the stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $33.88, for a total transaction of $158,422.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Michael Montano sold 1,250 shares of the stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $30.20, for a total value of $37,750.00. The disclosure for this sale can be found here. Insiders have sold a total of 6,417,501 shares of company stock worth $205,134,817 over the last quarter. Corporate insiders own 6.62% of the company’s stock.
TWTR has been the topic of a number of recent research reports. Wedbush reissued a “hold” rating and set a $37.00 price objective on shares of Twitter in a report on Tuesday, October 23rd. Deutsche Bank decreased their target price on Twitter from $33.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 23rd. Pivotal Research restated a “hold” rating and issued a $28.00 target price on shares of Twitter in a research note on Thursday, October 25th. UBS Group upgraded Twitter from a “market perform” rating to an “outperform” rating in a research note on Friday, October 26th. Finally, upgraded Twitter from a “market perform” rating to an “outperform” rating and set a $37.00 target price on the stock in a research note on Friday, October 26th. Two analysts have rated the stock with a sell rating, twenty-one have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $35.33.
Twitter, Inc operates as a platform for public self-expression and conversation in real time. The company offers various products and services, including Twitter that allows users to consume, create, distribute, and discover content; and Periscope, a mobile application that enables user to broadcast and watch video live with others.
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