Insider Selling: Ali Rowghani Sells 74,600 Shares of Twitter Stock (TWTR)
Twitter (NYSE:TWTR) COO Ali Rowghani unloaded 74,600 shares of Twitter stock on the open market in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $34.21, for a total value of $2,552,066.00. Following the sale, the chief operating officer now directly owns 1,019,454 shares of the company’s stock, valued at approximately $34,875,521. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of Twitter (NYSE:TWTR) traded up 2.61% during mid-day trading on Tuesday, hitting $35.37. 36,572,188 shares of the company’s stock traded hands. Twitter has a 52-week low of $29.51 and a 52-week high of $74.73. The stock has a 50-day moving average of $35.1 and a 200-day moving average of $49.04. The company’s market cap is $20.654 billion. Twitter also was the recipient of a large drop in short interest in 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 daily volume of 38,827,438 shares, the short-interest ratio is currently 1.1 days. Approximately 12.6% of the company’s shares are short sold.
Twitter (NYSE:TWTR) last released its earnings data 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. Analysts expect that Twitter will post $0.04 EPS for the current fiscal year.
TWTR has been the subject of a number of recent research reports. Analysts at Wells Fargo & Co. upgraded shares of Twitter from an “underperform” rating to a “market perform” rating in a research note on Tuesday. Separately, analysts at Pacific Crest initiated coverage on shares of Twitter in a research note on Wednesday, June 4th. They set an “outperform” rating and a $45.00 price target on the stock. Finally, analysts at Cantor Fitzgerald upgraded shares of Twitter from a “hold” rating to a “buy” rating in a research note on Thursday, May 29th. They now have a $40.00 price target on the stock. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating, eighteen have given a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $45.64.
Twitter, Inc (NYSE:TWTR) is a global platform for public self-expression and conversation in real time.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.