State Treasurer State of Michigan lifted its holdings in Twitter Inc (NYSE:TWTR) by 1.4% in the first quarter, HoldingsChannel.com reports. The fund owned 209,900 shares of the social networking company’s stock after buying an additional 2,900 shares during the quarter. State Treasurer State of Michigan’s holdings in Twitter were worth $6,902,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in TWTR. Financial Gravity Companies Inc. bought a new position in Twitter during the fourth quarter valued at approximately $27,000. JOYN Advisors Inc. raised its position in Twitter by 258.5% during the fourth quarter. JOYN Advisors Inc. now owns 1,018 shares of the social networking company’s stock valued at $29,000 after purchasing an additional 734 shares during the period. Mosaic Family Wealth LLC raised its position in Twitter by 47.3% during the fourth quarter. Mosaic Family Wealth LLC now owns 1,106 shares of the social networking company’s stock valued at $32,000 after purchasing an additional 355 shares during the period. First Financial Corp IN purchased a new stake in Twitter during the first quarter valued at approximately $33,000. Finally, Moody National Bank Trust Division raised its position in Twitter by 92.6% during the first quarter. Moody National Bank Trust Division now owns 994 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 478 shares during the period. 68.52% of the stock is owned by hedge funds and other institutional investors.
TWTR opened at $36.93 on Thursday. The firm has a market cap of $28.74 billion, a price-to-earnings ratio of 67.15, a PEG ratio of 2.44 and a beta of 0.59. Twitter Inc has a 52 week low of $26.19 and a 52 week high of $47.79. The company has a current ratio of 4.47, a quick ratio of 4.47 and a debt-to-equity ratio of 0.25.
Twitter (NYSE:TWTR) last released its quarterly earnings data on Tuesday, April 23rd. The social networking company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.06 by $0.31. The company had revenue of $787.00 million for the quarter, compared to the consensus estimate of $775.16 million. Twitter had a return on equity of 8.37% and a net margin of 42.20%. Twitter’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period last year, the business posted $0.16 EPS. On average, equities research analysts forecast that Twitter Inc will post 0.64 EPS for the current fiscal year.
A number of equities research analysts have issued reports on TWTR shares. Vertical Group upgraded Twitter from a “hold” rating to a “buy” rating in a research report on Monday, January 28th. Zacks Investment Research downgraded Twitter from a “buy” rating to a “hold” rating in a research report on Thursday, February 21st. Goldman Sachs Group restated a “buy” rating and set a $36.00 price objective on shares of Twitter in a research report on Friday, February 8th. Oppenheimer upped their price objective on Twitter from $33.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Finally, Morgan Stanley upped their price objective on Twitter from $31.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $39.77.
In other Twitter news, insider Michael Montano sold 1,250 shares of the stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $31.67, for a total transaction of $39,587.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Evan Clark Williams sold 682,242 shares of the stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $30.83, for a total value of $21,033,520.86. Following the sale, the director now directly owns 1,043,286 shares in the company, valued at approximately $32,164,507.38. The disclosure for this sale can be found here. Insiders have sold a total of 762,168 shares of company stock worth $24,013,489 in the last ninety days. Insiders own 2.65% of the company’s stock.
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.
Read More: What is a Tariff?
Want to see what other hedge funds are holding TWTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Twitter Inc (NYSE:TWTR).