Amalgamated Bank Sells 9,878 Shares of Twitter, Inc. (NYSE:TWTR)

Amalgamated Bank reduced its holdings in Twitter, Inc. (NYSE:TWTRGet Rating) by 4.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 203,041 shares of the social networking company’s stock after selling 9,878 shares during the period. Amalgamated Bank’s holdings in Twitter were worth $7,856,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TWTR. Vanguard Group Inc. increased its stake in Twitter by 17.1% in the 1st quarter. Vanguard Group Inc. now owns 82,403,665 shares of the social networking company’s stock valued at $3,188,198,000 after buying an additional 12,028,406 shares during the last quarter. Norges Bank acquired a new stake in Twitter in the 4th quarter valued at $313,565,000. Capital World Investors acquired a new position in shares of Twitter during the 4th quarter worth about $304,660,000. SRS Investment Management LLC increased its stake in shares of Twitter by 39.6% during the 1st quarter. SRS Investment Management LLC now owns 7,155,661 shares of the social networking company’s stock worth $276,853,000 after purchasing an additional 2,029,401 shares during the last quarter. Finally, Hawk Ridge Capital Management LP acquired a new position in shares of Twitter during the 1st quarter worth about $57,633,000. 72.10% of the stock is currently owned by institutional investors and hedge funds.

Twitter Stock Performance

Shares of Twitter stock opened at $41.45 on Friday. The company has a 50 day moving average of $40.65 and a 200-day moving average of $40.81. Twitter, Inc. has a 1-year low of $31.30 and a 1-year high of $68.41. The company has a current ratio of 7.15, a quick ratio of 7.15 and a debt-to-equity ratio of 0.88. The company has a market cap of $31.72 billion, a PE ratio of -207.25 and a beta of 0.65.

Twitter (NYSE:TWTRGet Rating) last issued its quarterly earnings results on Friday, July 22nd. The social networking company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.31). Twitter had a negative return on equity of 0.82% and a negative net margin of 2.14%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the company posted $0.04 EPS. The business’s revenue was down 1.2% on a year-over-year basis. As a group, equities research analysts forecast that Twitter, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Transactions at Twitter

In related news, insider Kayvon Beykpour sold 14,878 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $41.09, for a total value of $611,337.02. Following the completion of the transaction, the insider now owns 396,341 shares of the company’s stock, valued at approximately $16,285,651.69. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Kayvon Beykpour sold 14,878 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $41.09, for a total value of $611,337.02. Following the completion of the transaction, the insider now owns 396,341 shares of the company’s stock, valued at approximately $16,285,651.69. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Nick V. Caldwell sold 10,921 shares of the stock in a transaction that occurred on Thursday, July 7th. The shares were sold at an average price of $38.38, for a total transaction of $419,147.98. Following the completion of the transaction, the insider now directly owns 374,468 shares of the company’s stock, valued at approximately $14,372,081.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,799 shares of company stock valued at $1,408,285. Company insiders own 2.70% of the company’s stock.

Wall Street Analysts Forecast Growth

TWTR has been the topic of several recent analyst reports. Truist Financial lowered their price objective on shares of Twitter from $50.00 to $43.00 and set a “hold” rating on the stock in a research note on Tuesday, July 19th. Moffett Nathanson lowered their price objective on shares of Twitter to $34.00 in a research note on Monday, July 25th. Piper Sandler lowered their price objective on shares of Twitter from $54.20 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 13th. Jefferies Financial Group set a $40.00 price objective on shares of Twitter in a research note on Monday, July 11th. Finally, Citigroup boosted their price objective on shares of Twitter from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday, July 25th. Three analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $44.27.

Twitter Profile

(Get Rating)

Twitter, Inc operates as a platform for public self-expression and conversation in real-time. The company's primary product is Twitter, a platform that allows users to consume, create, distribute, and discover content. It also provides promoted products that enable advertisers to promote brands, products, and services, as well as enable advertisers to target an audience based on various factors, including who an account follows and actions taken on its platform, such as Tweets created and engagement with Tweets.

Further Reading

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Institutional Ownership by Quarter for Twitter (NYSE:TWTR)

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