PNC Financial Services Group Inc. increased its stake in Twitter Inc (NYSE:TWTR) by 112.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 109,516 shares of the social networking company’s stock after buying an additional 57,911 shares during the period. PNC Financial Services Group Inc.’s holdings in Twitter were worth $3,117,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the stock. Castleark Management LLC bought a new stake in Twitter during the second quarter valued at $121,000. Quad Cities Investment Group LLC bought a new stake in Twitter during the second quarter valued at $132,000. Focused Wealth Management Inc increased its stake in Twitter by 144.3% during the second quarter. Focused Wealth Management Inc now owns 3,217 shares of the social networking company’s stock valued at $140,000 after purchasing an additional 1,900 shares during the last quarter. Exane Derivatives increased its stake in Twitter by 303.0% during the third quarter. Exane Derivatives now owns 3,663 shares of the social networking company’s stock valued at $104,000 after purchasing an additional 2,754 shares during the last quarter. Finally, Integrated Investment Consultants LLC bought a new stake in Twitter during the second quarter valued at $166,000. Institutional investors and hedge funds own 64.18% of the company’s stock.
Several research firms have weighed in on TWTR. Guggenheim began coverage on shares of Twitter in a research note on Thursday. They set a “buy” rating and a $39.00 target price for the company. Zacks Investment Research reiterated a “strong-buy” rating and set a $37.00 target price on shares of Twitter in a research note on Saturday, November 17th. ValuEngine upgraded shares of Twitter from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 31st. TheStreet upgraded shares of Twitter from a “c” rating to a “b-” rating in a research note on Friday, October 26th. Finally, Aegis boosted their target price on shares of Twitter from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Monday, October 29th. Three analysts have rated the stock with a sell rating, eighteen have issued a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $34.90.
In related news, Director David S. Rosenblatt sold 30,000 shares of the company’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $34.30, for a total value of $1,029,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ned D. Segal sold 6,000 shares of the company’s stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $30.44, for a total transaction of $182,640.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,744,843 shares of company stock valued at $238,837,447. Corporate insiders own 10.79% of the company’s stock.
Shares of TWTR opened at $32.83 on Friday. Twitter Inc has a 1 year low of $20.95 and a 1 year high of $47.79. The firm has a market cap of $24.79 billion, a PE ratio of 547.17, a PEG ratio of 3.15 and a beta of 0.29. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.61 and a quick ratio of 4.61.
Twitter (NYSE:TWTR) last announced its quarterly earnings results on Thursday, October 25th. The social networking company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.17. Twitter had a net margin of 36.35% and a return on equity of 6.75%. The company had revenue of $758.11 million during the quarter, compared to the consensus estimate of $703.57 million. On average, analysts anticipate that Twitter Inc will post 0.47 earnings per share for the current year.
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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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