Twitter, Inc. (TWTR) Sees Significant Drop in Short Interest
Twitter, Inc. (NYSE:TWTR) was the recipient of a large decline in short interest in October. As of October 31st, there was short interest totalling 40,760,275 shares, a decline of 19.2% from the October 13th total of 50,448,244 shares. Currently, 6.4% of the shares of the stock are short sold. Based on an average trading volume of 27,545,643 shares, the short-interest ratio is presently 1.5 days.
A number of equities analysts have recently commented on TWTR shares. Canaccord Genuity reissued a “hold” rating and set a $15.00 price target on shares of Twitter in a report on Monday, July 24th. Wedbush cut Twitter from an “outperform” rating to a “neutral” rating and boosted their price target for the stock from $14.00 to $16.00 in a report on Monday, July 24th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $16.00 target price on shares of Twitter in a report on Tuesday, July 25th. Bank of America Corporation upped their target price on Twitter from $15.50 to $17.00 and gave the stock an “underperform” rating in a report on Tuesday, July 25th. Finally, Aegis reaffirmed a “sell” rating and issued a $13.00 target price on shares of Twitter in a report on Thursday, July 27th. Twelve analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Twitter has a consensus rating of “Hold” and a consensus target price of $17.67.
Twitter (TWTR) opened at $20.76 on Monday. Twitter has a twelve month low of $14.12 and a twelve month high of $21.96. The company has a quick ratio of 10.40, a current ratio of 10.40 and a debt-to-equity ratio of 0.35.
Twitter (NYSE:TWTR) last announced its quarterly earnings data on Thursday, October 26th. The social networking company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.03. Twitter had a negative return on equity of 1.21% and a negative net margin of 15.08%. The business had revenue of $590.00 million during the quarter, compared to analyst estimates of $586.22 million. During the same period in the prior year, the company earned $0.09 earnings per share. Twitter’s revenue was down 4.2% compared to the same quarter last year. analysts predict that Twitter will post 0.02 earnings per share for the current fiscal year.
In other news, CAO Robert Kaiden sold 6,574 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $20.59, for a total transaction of $135,358.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Evan Clark Williams sold 9,173 shares of the business’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $16.91, for a total value of $155,115.43. Following the transaction, the director now directly owns 2,692,230 shares of the company’s stock, valued at approximately $45,525,609.30. The disclosure for this sale can be found here. Insiders sold a total of 4,171,445 shares of company stock valued at $82,183,431 over the last ninety days. Insiders own 9.18% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Exane Derivatives grew its holdings in Twitter by 18.7% during the third quarter. Exane Derivatives now owns 59,516 shares of the social networking company’s stock valued at $1,004,000 after purchasing an additional 9,363 shares during the period. Vivaldi Asset Management LLC bought a new position in Twitter during the second quarter valued at $7,521,000. Allen Investment Management LLC bought a new position in Twitter during the second quarter valued at $7,169,000. State of Alaska Department of Revenue boosted its holdings in shares of Twitter by 77.5% in the second quarter. State of Alaska Department of Revenue now owns 29,068 shares of the social networking company’s stock worth $519,000 after acquiring an additional 12,690 shares during the period. Finally, Contrarius Investment Management Ltd boosted its holdings in shares of Twitter by 17.4% in the second quarter. Contrarius Investment Management Ltd now owns 5,553,048 shares of the social networking company’s stock worth $99,233,000 after acquiring an additional 822,455 shares during the period. 49.75% of the stock is owned by institutional investors and hedge funds.
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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.
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