Investors Buy High Volume of Call Options on Twitter (TWTR)
Twitter, Inc. (NYSE:TWTR) was the target of unusually large options trading activity on Thursday. Traders bought 40,001 call options on the company. This is an increase of 218% compared to the typical daily volume of 12,588 call options.
Several analysts recently issued reports on the stock. ValuEngine cut shares of Twitter from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Robert W. Baird reaffirmed a “hold” rating and issued a $17.00 price target on shares of Twitter in a report on Friday, September 1st. KeyCorp reaffirmed a “hold” rating on shares of Twitter in a report on Friday, August 25th. Jefferies Group LLC cut shares of Twitter from a “buy” rating to a “hold” rating and cut their price target for the company from $20.00 to $16.00 in a report on Thursday, August 24th. Finally, SunTrust Banks, Inc. assumed coverage on shares of Twitter in a report on Tuesday, August 15th. They issued a “hold” rating and a $16.00 price target on the stock. Seventeen research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and five have given a buy rating to the company’s stock. Twitter has an average rating of “Hold” and an average target price of $15.49.
Twitter (NYSE TWTR) opened at 17.45 on Friday. The stock has a 50 day moving average price of $16.87 and a 200-day moving average price of $16.83. Twitter has a one year low of $14.12 and a one year high of $25.25. The firm’s market cap is $12.79 billion.
Twitter (NYSE:TWTR) last released its quarterly earnings data on Thursday, July 27th. The social networking company reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.03. Twitter had a negative return on equity of 2.91% and a negative net margin of 18.25%. The business had revenue of $574 million for the quarter, compared to analysts’ expectations of $536.63 million. During the same quarter in the previous year, the business posted $0.13 EPS. Twitter’s revenue for the quarter was down 4.7% on a year-over-year basis. Analysts predict that Twitter will post $0.33 EPS for the current fiscal year.
In related news, insider Robert Kaiden sold 3,695 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $16.78, for a total value of $62,002.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Evan Clark Williams sold 853,700 shares of the company’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $19.38, for a total transaction of $16,544,706.00. Following the completion of the sale, the director now directly owns 2,735,038 shares in the company, valued at $53,005,036.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,091,670 shares of company stock worth $37,741,115. Corporate insiders own 10.79% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Intl Fcstone Inc. lifted its holdings in shares of Twitter by 174.1% during the 2nd quarter. Intl Fcstone Inc. now owns 37,151 shares of the social networking company’s stock valued at $664,000 after purchasing an additional 23,599 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of Twitter by 21.3% during the 2nd quarter. Toronto Dominion Bank now owns 7,592 shares of the social networking company’s stock valued at $136,000 after purchasing an additional 1,333 shares in the last quarter. EP Wealth Advisors LLC bought a new position in shares of Twitter during the 2nd quarter valued at about $211,000. Public Employees Retirement System of Ohio lifted its holdings in shares of Twitter by 2.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 284,027 shares of the social networking company’s stock valued at $5,076,000 after purchasing an additional 6,446 shares in the last quarter. Finally, National Asset Management Inc. lifted its holdings in shares of Twitter by 14.4% during the 2nd quarter. National Asset Management Inc. now owns 59,272 shares of the social networking company’s stock valued at $1,060,000 after purchasing an additional 7,460 shares in the last quarter. Institutional investors and hedge funds own 49.17% of the company’s stock.
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Twitter, Inc offers products and services for users, advertisers, developers and data partners. The Company’s products and services include Twitter, Periscope, Promoted Tweets, Promoted Accounts and Promoted Trends. Its Twitter is a platform for public self-expression and conversation in real time. Periscope broadcasts can also be viewed through Twitter and on desktop or mobile Web browser.
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