Insider Selling: Twitter VP Sells 73,377 Shares of Stock (TWTR)
Twitter (NYSE:TWTR) VP Luca Baratta sold 73,377 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $35.00, for a total value of $2,568,195.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Cantor Fitzgerald upgraded shares of Twitter from a “hold” rating to a “buy” rating in a research note on Thursday. They now have a $40.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Nomura upgraded shares of Twitter from a “neutral” rating to a “buy” rating in a research note on Wednesday. They now have a $43.00 price target on the stock, up previously from $40.00. They noted that the move was a valuation call. Finally, analysts at Wunderlich upgraded shares of Twitter from a “sell” rating to a “hold” rating in a research note on Friday, May 16th. They now have a $35.00 price target on the stock, down previously from $38.00. Five investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $45.67.
Shares of Twitter (NYSE:TWTR) traded down 4.59% during mid-day trading on Friday, hitting $32.44. 40,603,944 shares of the company’s stock traded hands. Twitter has a 1-year low of $29.51 and a 1-year high of $74.73. The stock’s 50-day moving average is $37.04 and its 200-day moving average is $49.39. The company’s market cap is $18.943 billion. Twitter also was the recipient of a significant drop in short interest during the month of May. As of May 15th, there was short interest totalling 41,082,382 shares, a drop of 18.0% from the April 30th total of 50,098,350 shares. Based on an average trading volume of 38,827,438 shares, the days-to-cover ratio is presently 1.1 days. Currently, 12.6% of the company’s shares are short sold.
Twitter (NYSE:TWTR) last posted its quarterly earnings results on Tuesday, April 29th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by $0.19. The company had revenue of $250.00 million for the quarter, compared to the consensus estimate of $240.90 million. During the same quarter in the previous year, the company posted ($0.08) earnings per share. The company’s revenue for the quarter was up 119.7% on a year-over-year basis. On average, analysts predict that Twitter will post $0.04 earnings per share for the current fiscal year.
Twitter, Inc (NYSE:TWTR), is a global platform for public self-expression and conversation in real time.
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