Equities research analysts at Summit Redstone assumed coverage on shares of Twitter (NYSE:TWTR) in a research note issued to investors on Monday. The brokerage set a “buy” rating and a $26.00 price target on the social networking company’s stock. Summit Redstone’s price target suggests a potential upside of 16.96% from the stock’s current price.
Other research analysts have also recently issued reports about the stock. Cantor Fitzgerald reiterated a “hold” rating and set a $16.00 target price on shares of Twitter in a report on Monday, October 23rd. J P Morgan Chase & Co upgraded shares of Twitter from a “neutral” rating to an “overweight” rating and set a $20.00 target price on the stock in a report on Monday. Citigroup upgraded shares of Twitter from a “sell” rating to a “neutral” rating and increased their target price for the stock from $19.90 to $20.00 in a report on Monday, November 6th. Vetr cut shares of Twitter from a “strong-buy” rating to a “buy” rating and set a $25.02 target price on the stock. in a report on Friday. Finally, BidaskClub upgraded shares of Twitter from a “hold” rating to a “buy” rating in a report on Friday, October 6th. Twelve equities research analysts have rated the stock with a sell rating, twenty have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $18.20.
Twitter (NYSE:TWTR) traded down $0.35 during mid-day trading on Monday, reaching $22.23. 17,957,600 shares of the company’s stock were exchanged, compared to its average volume of 17,437,994. The company has a current ratio of 10.40, a quick ratio of 10.40 and a debt-to-equity ratio of 0.35. Twitter has a fifty-two week low of $14.12 and a fifty-two week high of $23.24.
In other news, CAO Robert Kaiden sold 3,570 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $21.00, for a total transaction of $74,970.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Evan Clark Williams sold 18,347 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $21.66, for a total transaction of $397,396.02. Following the sale, the director now directly owns 2,365,053 shares in the company, valued at approximately $51,227,047.98. The disclosure for this sale can be found here. Insiders have sold a total of 5,504,977 shares of company stock worth $112,609,309 in the last ninety days. Corporate insiders own 10.79% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in TWTR. Balentine LLC grew its position in Twitter by 86.6% in the 3rd quarter. Balentine LLC now owns 6,822 shares of the social networking company’s stock valued at $115,000 after acquiring an additional 3,167 shares in the last quarter. Toronto Dominion Bank lifted its stake in Twitter by 21.3% in the second quarter. Toronto Dominion Bank now owns 7,592 shares of the social networking company’s stock valued at $136,000 after buying an additional 1,333 shares during the last quarter. Malaga Cove Capital LLC purchased a new stake in Twitter in the third quarter valued at approximately $154,000. Federated Investors Inc. PA purchased a new stake in Twitter in the second quarter valued at approximately $174,000. Finally, Staley Capital Advisers Inc. purchased a new stake in shares of Twitter during the third quarter worth approximately $173,000. 50.83% of the stock is currently owned by hedge funds and other institutional investors.
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Twitter Company Profile
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.
