Thoughtworks Holding, Inc. (NASDAQ:TWKS) Shares Sold by Inspire Investing LLC

Inspire Investing LLC decreased its position in Thoughtworks Holding, Inc. (NASDAQ:TWKS) by 14.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,331 shares of the company’s stock after selling 19,916 shares during the period. Inspire Investing LLC’s holdings in Thoughtworks were worth $347,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Thoughtworks by 1.0% during the first quarter. Vanguard Group Inc. now owns 11,446,418 shares of the company’s stock worth $28,959,000 after acquiring an additional 112,782 shares during the last quarter. Massachusetts Financial Services Co. MA raised 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 valued at $28,449,000 after buying an additional 59,037 shares during the period. Mubadala Investment Co PJSC acquired a new position in Thoughtworks in the fourth quarter valued at about $37,411,000. Summit Creek Advisors LLC lifted its position in Thoughtworks by 0.7% in the first quarter. Summit Creek Advisors LLC now owns 1,335,630 shares of the company’s stock valued at $3,379,000 after buying an additional 8,986 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Thoughtworks by 1,094.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 485,330 shares of the company’s stock worth $1,228,000 after buying an additional 444,712 shares during the period. Institutional investors and hedge funds own 32.81% of the company’s stock.

Thoughtworks Stock Performance

NASDAQ:TWKS opened at $4.41 on Wednesday. Thoughtworks Holding, Inc. has a 12 month low of $2.19 and a 12 month high of $5.20. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.59 and a quick ratio of 2.59. The firm has a market capitalization of $1.42 billion, a PE ratio of -15.21 and a beta of 1.14. The business’s fifty day moving average price is $4.07 and its 200 day moving average price is $3.14.

Thoughtworks (NASDAQ:TWKS) last posted its earnings results on Monday, August 5th. The company reported ($0.03) earnings per share for the quarter. The business had revenue of $251.70 million for the quarter, compared to analysts’ expectations of $251.37 million. Thoughtworks had a negative return on equity of 5.81% and a negative net margin of 11.20%. Thoughtworks’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.01) EPS. On average, sell-side analysts anticipate that Thoughtworks Holding, Inc. will post -0.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TWKS has been the subject of a number of research analyst reports. The Goldman Sachs Group initiated coverage on shares of Thoughtworks in a research report on Monday, June 24th. They set a “sell” rating and a $2.50 price objective for the company. Piper Sandler lifted their price objective on Thoughtworks from $3.40 to $4.40 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Baird R W cut Thoughtworks from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Robert W. Baird reaffirmed a “neutral” rating and issued a $4.40 target price on shares of Thoughtworks in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of Thoughtworks in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.