Inspire Investing LLC Sells 29,425 Shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS)

Inspire Investing LLC decreased its holdings in shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS) by 24.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,906 shares of the company’s stock after selling 29,425 shares during the period. Inspire Investing LLC’s holdings in Thoughtworks were worth $411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Thoughtworks by 1.0% during the first quarter. Vanguard Group Inc. now owns 11,446,418 shares of the company’s stock valued at $28,959,000 after purchasing an additional 112,782 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Thoughtworks by 0.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,017,364 shares of the company’s stock worth $28,449,000 after acquiring an additional 59,037 shares in the last quarter. SG Americas Securities LLC increased its holdings in Thoughtworks by 13,157.3% in the 3rd quarter. SG Americas Securities LLC now owns 3,319,896 shares of the company’s stock worth $14,674,000 after acquiring an additional 3,294,854 shares in the last quarter. 272 Capital LP lifted its holdings in Thoughtworks by 29.4% during the second quarter. 272 Capital LP now owns 1,423,569 shares of the company’s stock valued at $4,043,000 after purchasing an additional 323,751 shares in the last quarter. Finally, Summit Creek Advisors LLC boosted its position in shares of Thoughtworks by 0.7% in the first quarter. Summit Creek Advisors LLC now owns 1,335,630 shares of the company’s stock worth $3,379,000 after purchasing an additional 8,986 shares during the period. 32.81% of the stock is currently owned by hedge funds and other institutional investors.

Thoughtworks Stock Performance

NASDAQ:TWKS opened at $4.42 on Friday. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -12.28 and a beta of 1.15. Thoughtworks Holding, Inc. has a 1 year low of $2.19 and a 1 year high of $5.20. The stock’s 50 day simple moving average is $4.38 and its two-hundred day simple moving average is $3.38. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.59 and a quick ratio of 2.59.

Thoughtworks (NASDAQ:TWKS) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.03) earnings per share for the quarter. Thoughtworks had a negative return on equity of 5.81% and a negative net margin of 11.20%. The business had revenue of $251.70 million during the quarter, compared to the consensus estimate of $251.37 million. During the same quarter in the prior year, the firm posted ($0.01) EPS. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. As a group, equities analysts anticipate that Thoughtworks Holding, Inc. will post -0.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. JPMorgan Chase & Co. restated a “neutral” rating on shares of Thoughtworks in a research report on Tuesday, August 6th. Citigroup lowered their price objective on Thoughtworks from $3.25 to $2.75 and set a “neutral” rating on the stock in a research report on Friday, July 12th. The Goldman Sachs Group started coverage on Thoughtworks in a research report on Monday, June 24th. They set a “sell” rating and a $2.50 target price for the company. Baird R W cut Thoughtworks from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $4.40 price objective on shares of Thoughtworks in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $4.18.

Thoughtworks Company Profile

Thoughtworks Holding, Inc provides technology consultancy services in North America, the Asia Pacific, Europe, and Latin America. The company’s consultancy services integrate strategy, design, and software engineering to enable enterprises and technology disruptors to thrive as modern digital businesses.