Municipal Employees Retirement System of Michigan purchased a new stake in shares of Twitter Inc (NYSE:TWTR) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 19,250 shares of the social networking company’s stock, valued at approximately $553,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its holdings in shares of Twitter by 112.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 109,516 shares of the social networking company’s stock worth $3,117,000 after purchasing an additional 57,911 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Twitter during the 3rd quarter worth $800,000. Dimensional Fund Advisors LP grew its holdings in shares of Twitter by 1.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,991,973 shares of the social networking company’s stock worth $56,705,000 after purchasing an additional 35,042 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Twitter during the 3rd quarter worth $491,000. Finally, Franklin Resources Inc. grew its holdings in shares of Twitter by 17.6% during the 3rd quarter. Franklin Resources Inc. now owns 102,405 shares of the social networking company’s stock worth $2,914,000 after purchasing an additional 15,335 shares in the last quarter. 68.24% of the stock is owned by institutional investors and hedge funds.
In other Twitter news, insider Vijaya Gadde sold 16,664 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $39.32, for a total value of $655,228.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael Montano sold 1,250 shares of the firm’s stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $34.29, for a total value of $42,862.50. The disclosure for this sale can be found here. Insiders sold 797,603 shares of company stock valued at $24,834,880 in the last three months. Insiders own 6.62% of the company’s stock.
Twitter (NYSE:TWTR) last released its earnings results on Tuesday, April 23rd. The social networking company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.06 by $0.31. Twitter had a return on equity of 8.37% and a net margin of 42.20%. The business had revenue of $787.00 million during the quarter, compared to analysts’ expectations of $775.16 million. During the same quarter last year, the firm posted $0.16 earnings per share. The firm’s revenue was up 18.3% on a year-over-year basis. Equities analysts expect that Twitter Inc will post 0.46 earnings per share for the current year.
Several research firms have recently issued reports on TWTR. JPMorgan Chase & Co. reissued a “buy” rating and set a $40.00 target price on shares of Twitter in a report on Tuesday. Cowen upgraded Twitter from an “underperform” rating to a “market perform” rating in a research report on Tuesday. Aegis increased their target price on Twitter from $41.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday. Robert W. Baird increased their target price on Twitter from $33.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, UBS Group increased their target price on Twitter from $38.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating and fifteen have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $38.53.
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Twitter Company Profile
Twitter, Inc operates as a platform for public self-expression and conversation in real time. The company offers various products and services, including Twitter, a platform 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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