Korea Investment CORP Sells 59,900 Shares of Twitter Inc (NYSE:TWTR)
Korea Investment CORP reduced its position in Twitter Inc (NYSE:TWTR) by 43.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,144 shares of the social networking company’s stock after selling 59,900 shares during the quarter. Korea Investment CORP’s holdings in Twitter were worth $2,762,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Horizon Investments LLC bought a new position in shares of Twitter during the first quarter worth $346,000. Boston Advisors LLC bought a new position in shares of Twitter during the second quarter worth $2,839,000. Asset Planning Services Inc. LA ADV boosted its position in shares of Twitter by 24.2% during the second quarter. Asset Planning Services Inc. LA ADV now owns 9,347 shares of the social networking company’s stock worth $326,000 after acquiring an additional 1,823 shares during the last quarter. Bernardo Wealth Planning LLC purchased a new stake in Twitter during the first quarter valued at $228,000. Finally, Fox Run Management L.L.C. purchased a new stake in Twitter during the second quarter valued at $278,000. Institutional investors and hedge funds own 68.77% of the company’s stock.
Shares of TWTR opened at $45.42 on Monday. Twitter Inc has a twelve month low of $26.19 and a twelve month high of $45.68. The company has a market cap of $35.02 billion, a P/E ratio of 82.58, a P/E/G ratio of 0.93 and a beta of 0.58. The company has a current ratio of 4.33, a quick ratio of 4.33 and a debt-to-equity ratio of 0.29. The company’s fifty day simple moving average is $41.26 and its 200-day simple moving average is $36.75.
Twitter (NYSE:TWTR) last announced its earnings results on Friday, July 26th. The social networking company reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.03. Twitter had a net margin of 71.46% and a return on equity of 7.93%. The business had revenue of $841.40 million for the quarter, compared to the consensus estimate of $828.07 million. During the same quarter in the prior year, the firm posted $0.17 earnings per share. The business’s revenue for the quarter was up 18.4% on a year-over-year basis. Analysts predict that Twitter Inc will post 2.06 earnings per share for the current fiscal year.
In related news, insider Vijaya Gadde sold 4,166 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $35.11, for a total value of $146,268.26. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael Montano sold 1,250 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $43.78, for a total transaction of $54,725.00. The disclosure for this sale can be found here. Insiders sold a total of 132,693 shares of company stock worth $5,242,511 in the last ninety days. 2.65% of the stock is currently owned by insiders.
TWTR has been the topic of a number of recent research reports. Cfra raised shares of Twitter to a “hold” rating and set a $41.00 price target on the stock in a research note on Wednesday, July 31st. SunTrust Banks upped their price target on shares of Twitter to $41.00 and gave the company a “hold” rating in a research note on Monday, July 29th. They noted that the move was a valuation call. Pivotal Research initiated coverage on shares of Twitter in a research note on Wednesday, May 29th. They set a “buy” rating and a $48.00 price target on the stock. Wedbush reaffirmed a “neutral” rating and set a $42.00 price target on shares of Twitter in a research note on Monday, July 29th. Finally, Citigroup set a $45.00 price target on shares of Twitter and gave the company a “hold” rating in a research note on Friday. Four research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $41.35.
Twitter 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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