Southpoint Capital Advisors LP Trims Position in Twitter, Inc. (NYSE:TWTR)

Southpoint Capital Advisors LP reduced its position in Twitter, Inc. (NYSE:TWTR) by 73.7% in the 1st quarter, Holdings Channel reports. The fund owned 1,316,417 shares of the social networking company’s stock after selling 3,683,583 shares during the period. Twitter makes up about 1.4% of Southpoint Capital Advisors LP’s investment portfolio, making the stock its 29th biggest position. Southpoint Capital Advisors LP’s holdings in Twitter were worth $83,764,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of TWTR. Aristotle Capital Management LLC increased its stake in shares of Twitter by 5.3% during the 4th quarter. Aristotle Capital Management LLC now owns 17,717,399 shares of the social networking company’s stock valued at $955,005,000 after acquiring an additional 897,090 shares during the last quarter. Geode Capital Management LLC increased its position in Twitter by 3.6% during the first quarter. Geode Capital Management LLC now owns 13,334,242 shares of the social networking company’s stock worth $846,152,000 after purchasing an additional 459,500 shares during the last quarter. ARK Investment Management LLC purchased a new position in Twitter during the first quarter worth approximately $495,884,000. Norges Bank acquired a new position in shares of Twitter in the 4th quarter valued at $411,009,000. Finally, Elliott Investment Management L.P. grew its stake in shares of Twitter by 33.3% during the 1st quarter. Elliott Investment Management L.P. now owns 7,000,000 shares of the social networking company’s stock valued at $445,410,000 after buying an additional 1,750,000 shares during the period. Institutional investors own 78.21% of the company’s stock.

TWTR has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Twitter from a “sell” rating to a “hold” rating and set a $74.00 target price on the stock in a report on Wednesday, July 7th. KeyCorp reduced their price objective on Twitter from $90.00 to $77.00 and set an “overweight” rating on the stock in a research note on Friday, April 30th. BMO Capital Markets dropped their target price on shares of Twitter from $80.00 to $65.00 and set a “market perform” rating for the company in a research report on Monday, May 3rd. Piper Sandler cut their price objective on Twitter from $71.00 to $66.00 and set a “neutral” rating on the stock in a research report on Friday, April 30th. Finally, Barclays lowered their target price on Twitter from $52.00 to $48.00 and set an “underweight” rating for the company in a research note on Friday, April 30th. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $68.78.

In other Twitter news, insider Vijaya Gadde sold 2,388 shares of the firm’s stock in a transaction dated Thursday, July 15th. The shares were sold at an average price of $70.13, for a total transaction of $167,470.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Ned D. Segal sold 7,000 shares of the business’s stock in a transaction dated Tuesday, May 11th. The stock was sold at an average price of $50.18, for a total transaction of $351,260.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,636 shares of company stock worth $4,347,214. 2.56% of the stock is owned by insiders.

Shares of TWTR stock traded down $0.29 during trading hours on Thursday, reaching $69.25. The stock had a trading volume of 479,841 shares, compared to its average volume of 12,581,004. The company has a market cap of $55.27 billion, a price-to-earnings ratio of -58.88 and a beta of 0.76. The company’s 50-day simple moving average is $62.23. Twitter, Inc. has a twelve month low of $35.65 and a twelve month high of $80.75. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.55.

Twitter (NYSE:TWTR) last announced its quarterly earnings results on Thursday, April 29th. The social networking company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Twitter had a negative net margin of 23.05% and a negative return on equity of 11.06%. Analysts predict that Twitter, Inc. will post 0.23 EPS for the current year.

Twitter Company Profile

Twitter, Inc operates as a platform for public self-expression and conversation in real time United States, Japan, and internationally. 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 tweets, promoted accounts, and promoted trends, which enable its advertisers to promote their brands, products, and services.

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Institutional Ownership by Quarter for Twitter (NYSE:TWTR)

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