Hedge Funds Are Selling Palantir Technologies (PLTR) and 5 Other Tech Stocks

4. Twitter, Inc. (NYSE:TWTR)

Number of Hedge Fund Holders in Q4 2021: 83

Number of Hedge Fund Holders in Q3 2021: 94 

Twitter, Inc. (NYSE:TWTR) owns and runs a social networking platform. On March 1, Benchmark analyst Mark Zgutowicz initiated coverage of the stock with a Hold rating and no price target, noting that there was “limited ability to scale beyond an otherwise event-driven branding platform” for the firm. 

Hedge funds are also bearish on Twitter, Inc. (NYSE:TWTR) stock. At the end of the fourth quarter of 2021, 83 hedge funds in the database of Insider Monkey held stakes worth $3.1 billion in Twitter, Inc. (NYSE:TWTR), compared to 94 in the preceding quarter worth $6.3 billion. 

RGA Investment Advisors, in its Q1 2021 investor letter, mentioned Twitter, Inc. (NYSE:TWTR). Here is what the fund has to say in its letter:

“‘The bird has wings’—Twitter’s quarter started off somewhat ominously, with Twitter, Inc. (NYSE:TWTR) the worst performing stock in the S&P 500 following the January 6th insurrection and questions about the stickiness of the user base after permanently suspending the account of President Trump.8 By the end of the quarter, Twitter, Inc. (NYSE:TWTR) was one of the best performers in the index after exceptionally strong fourth quarter earnings and guidance for the year and an upbeat analyst day that highlighted a rapidly evolving product roadmap placing the timeline at the center of ephemeral (fleets), long form (Revue) and voice (Spaces). The improvements to the experience makes the platform more accessible and provides more opportunity to continue growing the user base. Importantly, Twitter, Inc. (NYSE:TWTR) also embraced what we have been calling “creative empowerment” in previewing SuperFollows and a host of features designed to help content creators and contributors monetize their own audience on Twitter, Inc. (NYSE:TWTR) itself. These developments, alongside considerable progress on the advertising platform give us growing conviction that Twitter, Inc. (NYSE:TWTR) will deliver on its largely untapped opportunity—in other words, the value creation opportunity on top of the low multiple we were able to build our position at. Elliot spoke at length about these developments on Yet Another Value Podcast with Andrew Walker and The Business Brew with Bill Brewster, which we invite you to check out.”