Essex Investment Management Co. LLC decreased its stake in Twitter Inc (NYSE:TWTR) by 71.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,023 shares of the social networking company’s stock after selling 53,985 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Twitter were worth $706,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the business. Howard Wealth Management LLC acquired a new position in shares of Twitter in the fourth quarter worth $25,000. Lenox Wealth Management Inc. boosted its position in Twitter by 447.2% during the third quarter. Lenox Wealth Management Inc. now owns 695 shares of the social networking company’s stock valued at $28,000 after purchasing an additional 568 shares during the last quarter. Sonora Investment Management LLC grew its stake in Twitter by 284.1% in the fourth quarter. Sonora Investment Management LLC now owns 941 shares of the social networking company’s stock valued at $30,000 after purchasing an additional 696 shares in the last quarter. Glassman Wealth Services grew its stake in Twitter by 120.6% in the third quarter. Glassman Wealth Services now owns 887 shares of the social networking company’s stock valued at $37,000 after purchasing an additional 485 shares in the last quarter. Finally, Citizens Financial Group Inc RI grew its stake in Twitter by 1,054.1% in the third quarter. Citizens Financial Group Inc RI now owns 981 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 896 shares in the last quarter. Institutional investors own 71.40% of the company’s stock.
Shares of TWTR opened at $33.20 on Friday. The company has a market capitalization of $27.09 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 2.41 and a beta of 0.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 9.15 and a quick ratio of 9.15. Twitter Inc has a one year low of $28.63 and a one year high of $45.85. The company’s fifty day moving average price is $34.92 and its 200 day moving average price is $35.69.
In other Twitter news, VP Matthew Derella sold 27,243 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $33.43, for a total value of $910,733.49. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Michael Montano sold 1,750 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $30.15, for a total transaction of $52,762.50. The disclosure for this sale can be found here. Insiders have sold a total of 247,965 shares of company stock valued at $8,855,095 in the last three months. 2.65% of the stock is owned by insiders.
A number of research firms have recently weighed in on TWTR. Morgan Stanley raised their price target on Twitter from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Sanford C. Bernstein began coverage on Twitter in a report on Thursday, January 9th. They set an “underperform” rating and a $27.00 price target for the company. Royal Bank of Canada reissued a “neutral” rating and issued a $40.00 price target on shares of Twitter in a research note on Monday, February 3rd. They noted that the move was a valuation call. Guggenheim downgraded Twitter from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $34.00 to $36.00 in a report on Friday, February 7th. They noted that the move was a valuation call. Finally, BMO Capital Markets raised their price objective on shares of Twitter to and gave the company a “market perform” rating in a research report on Friday, February 7th. Eight analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $37.64.
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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