Thoughtworks Holding, Inc. (NASDAQ:TWKS) Stock Position Trimmed by PDT Partners LLC

PDT Partners LLC cut its position in Thoughtworks Holding, Inc. (NASDAQ:TWKS) by 5.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 55,217 shares of the company’s stock after selling 3,100 shares during the quarter. PDT Partners LLC’s holdings in Thoughtworks were worth $244,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its position in shares of Thoughtworks by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 822,971 shares of the company’s stock worth $3,638,000 after buying an additional 37,641 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Thoughtworks during the 3rd quarter worth about $192,000. Alpine Associates Management Inc. bought a new stake in shares of Thoughtworks during the 3rd quarter worth about $8,598,000. Wolverine Asset Management LLC bought a new stake in shares of Thoughtworks during the 3rd quarter worth about $142,000. Finally, Covestor Ltd raised its position in shares of Thoughtworks by 495.8% during the 3rd quarter. Covestor Ltd now owns 24,725 shares of the company’s stock worth $109,000 after buying an additional 20,575 shares in the last quarter. 32.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TWKS has been the topic of a number of recent analyst reports. Piper Sandler boosted their price target on shares of Thoughtworks from $3.40 to $4.40 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. Baird R W cut shares of Thoughtworks from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Robert W. Baird reaffirmed a “neutral” rating and issued a $4.40 price objective on shares of Thoughtworks in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Thoughtworks in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Thoughtworks currently has an average rating of “Hold” and an average price target of $4.18.

Thoughtworks Stock Performance

Thoughtworks stock opened at $4.47 on Wednesday. The firm’s 50 day simple moving average is $4.45 and its 200-day simple moving average is $3.82. The company has a market cap of $1.44 billion, a P/E ratio of -14.90 and a beta of 1.13. 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 Holding, Inc. has a fifty-two week low of $2.19 and a fifty-two week high of $5.20.

About Thoughtworks

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.