Westpac Banking Corp Cuts Stock Holdings in Twitter Inc (NYSE:TWTR)

Westpac Banking Corp lowered its stake in shares of Twitter Inc (NYSE:TWTR) by 2.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 305,091 shares of the social networking company’s stock after selling 7,450 shares during the period. Westpac Banking Corp’s holdings in Twitter were worth $10,648,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of TWTR. Horizon Investments LLC acquired a new position in Twitter during the 1st quarter worth $346,000. RFG Advisory LLC purchased a new position in shares of Twitter in the first quarter worth approximately $229,000. Boston Advisors LLC purchased a new position in shares of Twitter in the second quarter worth approximately $2,839,000. Sigma Investment Counselors Inc. purchased a new position in shares of Twitter in the first quarter worth approximately $222,000. Finally, BB&T Corp increased its position in shares of Twitter by 25.4% in the first quarter. BB&T Corp now owns 71,542 shares of the social networking company’s stock worth $2,352,000 after acquiring an additional 14,471 shares in the last quarter. 66.81% of the stock is currently owned by institutional investors.

In other news, CAO Robert Kaiden sold 10,437 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $40.47, for a total value of $422,385.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David S. Rosenblatt sold 40,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $40.04, for a total value of $1,601,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 141,282 shares of company stock valued at $5,500,467. 2.65% of the stock is currently owned by company insiders.

Twitter stock traded down $1.20 during trading hours on Wednesday, reaching $40.61. 329,930 shares of the company’s stock traded hands, compared to its average volume of 16,253,819. The company has a debt-to-equity ratio of 0.29, a current ratio of 4.33 and a quick ratio of 4.33. Twitter Inc has a fifty-two week low of $26.19 and a fifty-two week high of $43.48. The company has a market cap of $32.32 billion, a price-to-earnings ratio of 73.82, a price-to-earnings-growth ratio of 0.86 and a beta of 0.62. The business’s 50 day moving average price is $38.63.

Twitter (NYSE:TWTR) last released its earnings results on Friday, July 26th. The social networking company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. Twitter had a net margin of 71.46% and a return on equity of 7.93%. The company had revenue of $841.40 million for the quarter, compared to the consensus estimate of $828.07 million. During the same period in the prior year, the company posted $0.17 EPS. The company’s revenue was up 18.4% compared to the same quarter last year. On average, analysts forecast that Twitter Inc will post 2.06 EPS for the current fiscal year.

Several research analysts have recently weighed in on the stock. Jefferies Financial Group lifted their target price on shares of Twitter from $41.00 to $44.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Zacks Investment Research cut shares of Twitter from a “strong-buy” rating to a “hold” rating and set a $49.00 price target for the company. in a report on Thursday, August 1st. Cowen upgraded shares of Twitter from an “underperform” rating to a “market perform” rating in a report on Tuesday, April 23rd. Rosenblatt Securities assumed coverage on shares of Twitter in a report on Tuesday, July 23rd. They set a “neutral” rating and a $38.00 price target for the company. Finally, Royal Bank of Canada raised their price target on shares of Twitter to $42.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Four analysts have rated the stock with a sell rating, seventeen have given a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $40.91.

About Twitter

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: How To Calculate Debt-to-Equity Ratio

Institutional Ownership by Quarter for Twitter (NYSE:TWTR)

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