Alpine Associates Management Inc. Invests $8.60 Million in Thoughtworks Holding, Inc. (NASDAQ:TWKS)

Alpine Associates Management Inc. acquired a new stake in shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,945,265 shares of the company's stock, valued at approximately $8,598,000. Alpine Associates Management Inc. owned about 0.60% of Thoughtworks as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wolverine Asset Management LLC bought a new stake in shares of Thoughtworks during the 3rd quarter worth approximately $142,000. Covestor Ltd lifted its holdings in shares of Thoughtworks by 495.8% in 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 during the period. Creative Planning raised its holdings in shares of Thoughtworks by 6.4% in the third quarter. Creative Planning now owns 43,974 shares of the company's stock valued at $194,000 after acquiring an additional 2,642 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of 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 purchasing an additional 3,294,854 shares during the period. Finally, Algert Global LLC bought a new position in shares of Thoughtworks during the second quarter valued at approximately $33,000. 32.81% of the stock is owned by hedge funds and other institutional investors.

Thoughtworks Price Performance

TWKS remained flat at $4.47 on Wednesday. The company has a fifty day simple moving average of $4.43 and a two-hundred day simple moving average of $3.72. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -14.90 and a beta of 1.13. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 0.39. Thoughtworks Holding, Inc. has a fifty-two week low of $2.19 and a fifty-two week high of $5.20.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Robert W. Baird reissued a "neutral" rating and issued a $4.40 price target on shares of Thoughtworks in a research report on Tuesday, August 6th. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Thoughtworks in a research report on Tuesday, August 6th. Baird R W lowered Thoughtworks from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 6th. Finally, Piper Sandler lifted their target price on shares of Thoughtworks from $3.40 to $4.40 and gave the stock a "neutral" rating 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 given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus 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.