Twitter Inc (NYSE:TWTR) Stake Lowered by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its stake in shares of Twitter Inc (NYSE:TWTR) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 105,239 shares of the social networking company’s stock after selling 2,969 shares during the quarter. State of Alaska Department of Revenue’s holdings in Twitter were worth $3,672,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of TWTR. Clearbridge Investments LLC grew its holdings in shares of Twitter by 11.5% during the first quarter. Clearbridge Investments LLC now owns 30,512,378 shares of the social networking company’s stock valued at $1,003,247,000 after purchasing an additional 3,144,553 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Twitter by 72.8% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,809,412 shares of the social networking company’s stock valued at $158,133,000 after purchasing an additional 2,026,733 shares during the last quarter. Nikko Asset Management Americas Inc. grew its holdings in shares of Twitter by 1,085.7% during the first quarter. Nikko Asset Management Americas Inc. now owns 2,200,069 shares of the social networking company’s stock valued at $72,338,000 after purchasing an additional 2,014,515 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Twitter by 23.1% during the first quarter. First Trust Advisors LP now owns 8,908,905 shares of the social networking company’s stock valued at $292,925,000 after purchasing an additional 1,673,894 shares during the last quarter. Finally, ARK Investment Management LLC grew its holdings in shares of Twitter by 44.6% during the first quarter. ARK Investment Management LLC now owns 4,661,175 shares of the social networking company’s stock valued at $153,259,000 after purchasing an additional 1,437,982 shares during the last quarter. 67.18% of the stock is owned by institutional investors.

TWTR has been the subject of several recent research reports. China Renaissance Securities initiated coverage on Twitter in a report on Wednesday, May 29th. They set a “sell” rating and a $28.00 target price for the company. Guggenheim reaffirmed a “buy” rating and set a $44.00 target price (up from $41.00) on shares of Twitter in a report on Wednesday, April 24th. Mizuho set a $35.00 target price on Twitter and gave the company a “sell” rating in a report on Friday, July 26th. Barclays set a $34.00 target price on Twitter and gave the company a “sell” rating in a report on Friday, July 26th. Finally, Canaccord Genuity reissued a “hold” rating and issued a $42.00 price objective (up from $32.00) on shares of Twitter in a report on Wednesday, April 24th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $40.82.

In other news, insider Michael Montano sold 1,250 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $37.17, for a total transaction of $46,462.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Vijaya Gadde sold 12,498 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $40.00, for a total value of $499,920.00. The disclosure for this sale can be found here. Insiders have sold a total of 116,441 shares of company stock valued at $4,447,027 in the last quarter. Insiders own 2.65% of the company’s stock.

Shares of NYSE:TWTR traded up $0.49 on Friday, reaching $42.57. 516,517 shares of the company traded hands, compared to its average volume of 13,151,974. Twitter Inc has a fifty-two week low of $26.19 and a fifty-two week high of $43.48. The firm has a 50 day simple moving average of $37.23. The stock has a market cap of $31.51 billion, a PE ratio of 77.41, a PEG ratio of 2.62 and a beta of 0.57. The company has a debt-to-equity ratio of 0.29, a current ratio of 4.33 and a quick ratio of 4.47.

Twitter (NYSE:TWTR) last announced its quarterly earnings data on Friday, July 26th. The social networking company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. Twitter had a return on equity of 7.93% and a net margin of 71.46%. The company had revenue of $841.40 million during the quarter, compared to the consensus estimate of $828.07 million. During the same quarter in the prior year, the firm earned $0.17 EPS. The company’s quarterly revenue was up 18.4% compared to the same quarter last year. As a group, research analysts forecast that Twitter Inc will post 1.87 earnings per share for the current fiscal year.

About Twitter

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.

Further Reading: Why are gap-down stocks important?

Want to see what other hedge funds are holding TWTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Twitter Inc (NYSE:TWTR).

Institutional Ownership by Quarter for Twitter (NYSE:TWTR)

Receive News & Ratings for Twitter Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Twitter and related companies with MarketBeat.com's FREE daily email newsletter.