Crystal Rock Capital Management increased its position in Twitter, Inc. (NYSE:TWTR – Get Rating) by 37.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,975 shares of the social networking company’s stock after acquiring an additional 19,975 shares during the period. Twitter makes up about 1.7% of Crystal Rock Capital Management’s investment portfolio, making the stock its 26th biggest position. Crystal Rock Capital Management’s holdings in Twitter were worth $3,197,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Profund Advisors LLC lifted its stake in Twitter by 3.3% in the 4th quarter. Profund Advisors LLC now owns 100,808 shares of the social networking company’s stock valued at $4,357,000 after buying an additional 3,205 shares in the last quarter. ProShare Advisors LLC lifted its stake in Twitter by 51.2% in the 4th quarter. ProShare Advisors LLC now owns 238,015 shares of the social networking company’s stock valued at $10,287,000 after buying an additional 80,582 shares in the last quarter. Pekin Hardy Strauss Inc. lifted its stake in Twitter by 47.1% in the 4th quarter. Pekin Hardy Strauss Inc. now owns 10,911 shares of the social networking company’s stock valued at $472,000 after buying an additional 3,496 shares in the last quarter. Sigma Investment Counselors Inc. lifted its stake in shares of Twitter by 11.5% during the 4th quarter. Sigma Investment Counselors Inc. now owns 4,808 shares of the social networking company’s stock worth $208,000 after purchasing an additional 494 shares during the period. Finally, Live Oak Private Wealth LLC lifted its stake in shares of Twitter by 6.8% during the 4th quarter. Live Oak Private Wealth LLC now owns 112,551 shares of the social networking company’s stock worth $4,864,000 after purchasing an additional 7,177 shares during the period. Institutional investors and hedge funds own 78.96% of the company’s stock.
NYSE TWTR traded down $1.83 on Tuesday, reaching $49.87. The company’s stock had a trading volume of 3,325,757 shares, compared to its average volume of 40,957,063. The firm has a market cap of $38.08 billion, a PE ratio of -166.03 and a beta of 0.80. The business has a 50-day moving average price of $39.63 and a 200 day moving average price of $43.84. Twitter, Inc. has a 52 week low of $31.30 and a 52 week high of $73.34. The company has a current ratio of 5.89, a quick ratio of 5.89 and a debt-to-equity ratio of 0.58.
Twitter declared that its board has approved a share repurchase program on Thursday, February 10th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the social networking company to repurchase up to 14% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.
In other Twitter news, CFO Ned D. Segal sold 5,000 shares of the stock in a transaction on Tuesday, March 8th. The shares were sold at an average price of $32.27, for a total value of $161,350.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Robert Kaiden sold 5,614 shares of the stock in a transaction on Tuesday, February 1st. The shares were sold at an average price of $37.04, for a total transaction of $207,942.56. The disclosure for this sale can be found here. Insiders sold 20,614 shares of company stock worth $781,743 over the last 90 days. 2.56% of the stock is currently owned by company insiders.
Several brokerages recently issued reports on TWTR. Cowen lowered their price target on Twitter from $67.00 to $50.00 in a report on Thursday, January 13th. StockNews.com began coverage on Twitter in a report on Thursday, March 31st. They issued a “sell” rating for the company. Susquehanna lowered their price target on Twitter from $85.00 to $50.00 and set a “positive” rating for the company in a report on Friday, February 11th. Morgan Stanley increased their price target on Twitter from $57.00 to $59.00 and gave the company an “equal weight” rating in a report on Friday, February 11th. Finally, Mizuho increased their price target on Twitter from $46.00 to $54.00 and gave the company a “neutral” rating in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, twenty-three have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Twitter presently has a consensus rating of “Hold” and an average target price of $49.65.
Twitter Company Profile (Get Rating)
Twitter, Inc operates as a platform for public self-expression and conversation in real-time. The company offers Twitter, a platform that allows users to consume, create, distribute, and discover content. It also provides promoted products and services, such as promoted ads and Twitter amplify, follower ads, and Twitter takeover; Tips to directly send small one-time payments on Twitter using various payment methods, including bitcoin; Super Follows, a paid monthly subscription, which includes bonus content, exclusive previews, and perks as a way to support and connect with creators on Twitter; and Ticketed Spaces to support creators on Twitter for their time and effort in hosting, speaking, and moderating the public conversation on Twitter Spaces.
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