Contrarius Investment Management Ltd buys $73,037,616 stake in Twitter Inc (TWTR)

Twitter Inc (TWTR) : Contrarius Investment Management Ltd scooped up 844,273 additional shares in Twitter Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 3, 2016. The investment management firm now holds a total of 4,147,508 shares of Twitter Inc which is valued at $73,037,616.Twitter Inc makes up approximately 5.68% of Contrarius Investment Management Ltd’s portfolio.

Other Hedge Funds, Including , Reilly Financial Advisors added TWTR to its portfolio by purchasing 300 company shares during the most recent quarter which is valued at $5,283. Shelton Capital Management sold out all of its stake in TWTR during the most recent quarter. The investment firm sold 13,100 shares of TWTR which is valued $230,691.Integrated Wealth Management boosted its stake in TWTR in the latest quarter, The investment management firm added 750 additional shares and now holds a total of 4,966 shares of Twitter Inc which is valued at $87,451. Twitter Inc makes up approx 0.03% of Integrated Wealth Management’s portfolio.Hamilton Lane Advisors reduced its stake in TWTR by selling 50,000 shares or 14.66% in the most recent quarter. The Hedge Fund company now holds 291,156 shares of TWTR which is valued at $5,165,107. Twitter Inc makes up approx 2.43% of Hamilton Lane Advisors’s portfolio.

Twitter Inc closed down -0.06 points or -0.33% at $18.2 with 1,55,02,751 shares getting traded on Monday. Post opening the session at $18.25, the shares hit an intraday low of $17.935 and an intraday high of $18.48 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Twitter Inc reported $0.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.10. The company had revenue of $595.00 million for the quarter, compared to analysts expectations of $607.55 million. The company’s revenue was up 36.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 EPS.

Many Wall Street Analysts have commented on Twitter Inc. Shares were Downgraded by Axiom Capital on Jul 27, 2016 to ” Hold” and Lowered the Price Target to $ 16 from a previous price target of $18 .Shares were Reiterated by Stifel on Jul 27, 2016 to “Sell” and Lowered the Price Target to $ 9 from a previous price target of $10 .Shares were Reiterated by Wedbush on Jul 27, 2016 to “Neutral” and Lowered the Price Target to $ 14 from a previous price target of $20 .

Twitter Inc. (Twitter) is a global platform for public self-expression and conversation in real time. The Company offers products and services for users advertisers developers and platform and data partners. Products and services for users enables a way for people to create distribute and discover content which enables a user on Twitter to create a tweet and a user to follow other users. Products and services for advertisers consist of promoted products which enable its advertisers to promote their brands products and services and extend the conversation around their advertising message. Products for platform partners and developers provide a set of tools public application program interface (APIs) and embeddable widgets that developers use to contribute their content to its platform syndicate and distribute its content across their properties. Products for data partners offer subscription access to its public data feed.

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