First Trust Advisors LP Sells 1,946,653 Shares of Twitter Inc (NYSE:TWTR)

First Trust Advisors LP trimmed its position in shares of Twitter Inc (NYSE:TWTR) by 22.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,890,011 shares of the social networking company’s stock after selling 1,946,653 shares during the quarter. Twitter makes up about 0.5% of First Trust Advisors LP’s investment portfolio, making the stock its 21st biggest position. First Trust Advisors LP’s holdings in Twitter were worth $283,868,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Wealthcare Advisory Partners LLC grew its stake in Twitter by 74,500.0% during the third quarter. Wealthcare Advisory Partners LLC now owns 746 shares of the social networking company’s stock worth $31,000 after buying an additional 745 shares during the last quarter. Whittier Trust Co. grew its stake in Twitter by 77.9% during the third quarter. Whittier Trust Co. now owns 747 shares of the social networking company’s stock worth $31,000 after buying an additional 327 shares during the last quarter. Truvestments Capital LLC grew its stake in Twitter by 55.7% during the third quarter. Truvestments Capital LLC now owns 836 shares of the social networking company’s stock worth $34,000 after buying an additional 299 shares during the last quarter. Resources Investment Advisors LLC. bought a new stake in Twitter during the second quarter worth about $30,000. Finally, Ellevest Inc. grew its stake in Twitter by 4,150.0% during the second quarter. Ellevest Inc. now owns 850 shares of the social networking company’s stock worth $30,000 after buying an additional 830 shares during the last quarter. 69.23% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Michael Montano sold 1,750 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $30.19, for a total transaction of $52,832.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Robert Kaiden sold 9,685 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $29.72, for a total transaction of $287,838.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 97,450 shares of company stock worth $3,584,723. Company insiders own 2.65% of the company’s stock.

TWTR traded up $0.16 during mid-day trading on Friday, hitting $29.21. The stock had a trading volume of 10,616,310 shares, compared to its average volume of 15,762,038. The stock’s fifty day simple moving average is $37.42 and its 200-day simple moving average is $38.61. The company has a debt-to-equity ratio of 0.28, a current ratio of 8.69 and a quick ratio of 8.69. The firm has a market capitalization of $23.14 billion, a price-to-earnings ratio of 53.11, a price-to-earnings-growth ratio of 0.52 and a beta of 0.58. Twitter Inc has a 1-year low of $26.26 and a 1-year high of $45.85.

Twitter (NYSE:TWTR) last posted its earnings results on Thursday, October 24th. The social networking company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.07. The company had revenue of $824.00 million for the quarter, compared to analyst estimates of $875.21 million. Twitter had a net margin of 47.67% and a return on equity of 6.07%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the business posted $0.21 earnings per share. As a group, research analysts expect that Twitter Inc will post 2 earnings per share for the current fiscal year.

Several brokerages have weighed in on TWTR. Nomura decreased their price objective on shares of Twitter from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. decreased their price objective on shares of Twitter from $52.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Wedbush reaffirmed a “hold” rating and set a $34.50 price objective (down from $42.00) on shares of Twitter in a research note on Friday, October 25th. Robert W. Baird decreased their price objective on shares of Twitter from $40.00 to $39.00 in a research note on Thursday, October 24th. Finally, Susquehanna Bancshares set a $34.00 price objective on shares of Twitter and gave the stock a “hold” rating in a research note on Friday, October 25th. Five investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $36.61.

Twitter Company Profile

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.

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Institutional Ownership by Quarter for Twitter (NYSE:TWTR)

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