ExodusPoint Capital Management LP purchased a new stake in shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS – Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 173,846 shares of the company’s stock, valued at approximately $1,280,000. ExodusPoint Capital Management LP owned about 0.05% of Thoughtworks at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assetmark Inc. boosted its stake in Thoughtworks by 61.9% during the fourth quarter. Assetmark Inc. now owns 3,255 shares of the company’s stock valued at $33,000 after buying an additional 1,245 shares during the last quarter. Landscape Capital Management L.L.C. bought a new position in Thoughtworks during the fourth quarter valued at approximately $236,000. Summit Creek Advisors LLC boosted its stake in Thoughtworks by 96.1% during the fourth quarter. Summit Creek Advisors LLC now owns 749,109 shares of the company’s stock valued at $7,633,000 after buying an additional 367,079 shares during the last quarter. Jump Financial LLC boosted its stake in Thoughtworks by 1,022.5% during the first quarter. Jump Financial LLC now owns 133,275 shares of the company’s stock valued at $981,000 after buying an additional 121,402 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Thoughtworks by 40.5% in the 1st quarter. Harbor Capital Advisors Inc. now owns 13,830 shares of the company’s stock valued at $102,000 after purchasing an additional 3,984 shares during the last quarter. 27.00% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on TWKS. Piper Sandler lowered their price objective on Thoughtworks from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday, August 8th. Citigroup lowered their price objective on Thoughtworks from $7.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, August 9th. Royal Bank of Canada lowered Thoughtworks from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $10.00 to $6.00 in a research note on Tuesday, August 8th. Finally, TD Cowen lowered Thoughtworks from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $9.00 to $6.00 in a research note on Thursday, August 10th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.44.
Thoughtworks Price Performance
Shares of NASDAQ TWKS opened at $4.97 on Monday. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average price is $6.39 and its 200-day moving average price is $7.15. Thoughtworks Holding, Inc. has a fifty-two week low of $4.52 and a fifty-two week high of $14.18.
Thoughtworks (NASDAQ:TWKS – Get Free Report) last released its quarterly earnings data on Tuesday, August 8th. The company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). The company had revenue of $287.22 million for the quarter, compared to the consensus estimate of $301.92 million. Thoughtworks had a negative return on equity of 1.42% and a negative net margin of 2.88%. As a group, equities research analysts forecast that Thoughtworks Holding, Inc. will post -0.02 earnings per share for the current year.
Thoughtworks 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.
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