Twitter Sees Unusually High Options Volume (TWTR)
Twitter Inc (NYSE:TWTR) saw unusually large options trading activity on Friday. Traders bought 26,828 put options on the company. This represents an increase of 230% compared to the typical volume of 8,121 put options.
Twitter (NYSE:TWTR) traded down 0.14% on Friday, reaching $14.63. 13,785,998 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $14.90 and its 200 day moving average price is $17.03. Twitter has a 52-week low of $13.73 and a 52-week high of $25.25. The company’s market cap is $10.48 billion.
Twitter (NYSE:TWTR) last issued its quarterly earnings results on Thursday, February 9th. The social networking company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.04. Twitter had a negative net margin of 18.06% and a negative return on equity of 4.59%. The business had revenue of $717 million for the quarter, compared to the consensus estimate of $740.17 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. On average, analysts expect that Twitter will post $0.30 earnings per share for the current year.
TWTR has been the topic of several research analyst reports. Vetr raised shares of Twitter from a “buy” rating to a “strong-buy” rating and set a $16.88 price target on the stock in a report on Tuesday, March 21st. Jefferies Group LLC reissued a “buy” rating and issued a $20.00 price target on shares of Twitter in a report on Thursday, March 23rd. Loop Capital reissued a “sell” rating and issued a $10.00 price target on shares of Twitter in a report on Monday, March 20th. Pacific Crest initiated coverage on shares of Twitter in a report on Friday, January 20th. They issued a “sector weight” rating and a $14.00 price target on the stock. Finally, Barclays PLC initiated coverage on shares of Twitter in a report on Tuesday, March 28th. They issued an “underweight” rating and a $14.00 price target on the stock. Seventeen research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Twitter currently has an average rating of “Hold” and a consensus price target of $15.76.
In related news, General Counsel Vijaya Gadde sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, April 4th. The shares were sold at an average price of $14.71, for a total value of $220,650.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Evan Clark Williams sold 273,200 shares of the firm’s stock in a transaction dated Wednesday, April 19th. The shares were sold at an average price of $14.52, for a total transaction of $3,966,864.00. Following the completion of the sale, the director now owns 2,906,274 shares of the company’s stock, valued at $42,199,098.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 590,606 shares of company stock valued at $8,663,955. Company insiders own 10.79% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Twitter during the fourth quarter valued at $57,696,000. Highland Capital Management LP increased its position in shares of Twitter by 45.4% in the fourth quarter. Highland Capital Management LP now owns 6,169,150 shares of the social networking company’s stock valued at $100,556,000 after buying an additional 1,926,150 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Twitter by 3,560.6% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,404,226 shares of the social networking company’s stock valued at $32,367,000 after buying an additional 1,365,865 shares in the last quarter. Contrarius Investment Management Ltd increased its position in shares of Twitter by 31.9% in the third quarter. Contrarius Investment Management Ltd now owns 5,471,146 shares of the social networking company’s stock valued at $126,110,000 after buying an additional 1,323,638 shares in the last quarter. Finally, York Capital Management Global Advisors LLC purchased a new position in shares of Twitter during the third quarter valued at $28,737,000. 44.45% of the stock is currently owned by institutional investors and hedge funds.
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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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