Raffles Associates LP Purchases Shares of 45,000 Twitter Inc (TWTR)
Raffles Associates LP purchased a new position in shares of Twitter Inc (NYSE:TWTR) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 45,000 shares of the social networking company’s stock, valued at approximately $1,281,000. Twitter accounts for 1.2% of Raffles Associates LP’s investment portfolio, making the stock its 21st largest holding.
Other large investors have also modified their holdings of the company. Acadian Asset Management LLC acquired a new position in shares of Twitter during the second quarter worth about $219,000. Dupont Capital Management Corp purchased a new stake in Twitter during the second quarter worth approximately $1,008,000. Aperio Group LLC lifted its stake in Twitter by 29.2% during the second quarter. Aperio Group LLC now owns 172,911 shares of the social networking company’s stock worth $7,551,000 after purchasing an additional 39,119 shares during the last quarter. TD Asset Management Inc. lifted its stake in Twitter by 238.0% during the second quarter. TD Asset Management Inc. now owns 207,843 shares of the social networking company’s stock worth $9,076,000 after purchasing an additional 146,343 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in Twitter by 12.2% during the second quarter. Commonwealth Equity Services LLC now owns 77,578 shares of the social networking company’s stock worth $3,388,000 after purchasing an additional 8,415 shares during the last quarter. Institutional investors own 64.18% of the company’s stock.
In other news, insider Robert Kaiden sold 1,362 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $28.62, for a total transaction of $38,980.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ned D. Segal sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $30.44, for a total value of $182,640.00. The disclosure for this sale can be found here. Insiders have sold 7,739,631 shares of company stock valued at $238,669,464 in the last 90 days. Company insiders own 10.79% of the company’s stock.
Twitter (NYSE:TWTR) last released its quarterly earnings results on Thursday, October 25th. The social networking company reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.17. Twitter had a return on equity of 6.75% and a net margin of 36.35%. The business had revenue of $758.11 million during the quarter, compared to analysts’ expectations of $703.57 million. As a group, equities research analysts anticipate that Twitter Inc will post 0.47 EPS for the current year.
Several equities research analysts recently weighed in on TWTR shares. Wedbush restated a “hold” rating and set a $37.00 target price on shares of Twitter in a research note on Tuesday, October 23rd. Zacks Investment Research restated a “strong-buy” rating and set a $37.00 target price on shares of Twitter in a research note on Saturday, November 17th. Pivotal Research upgraded Twitter from a “sell” rating to a “hold” rating and decreased their target price for the stock from $26.00 to $24.00 in a research note on Friday, October 12th. MED upgraded Twitter from a “market perform” rating to an “outperform” rating and set a $37.00 target price for the company in a research note on Friday, October 26th. Finally, UBS Group upgraded Twitter from a “market perform” rating to an “outperform” rating in a research note on Friday, October 26th. Three investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $34.90.
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Twitter, Inc operates as a platform for public self-expression and conversation in real time. The company offers various products and services, including Twitter 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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