Twitter Inc (NYSE:TWTR) gapped up prior to trading on Tuesday . The stock had previously closed at $35.08, but opened at $33.66. Twitter shares last traded at $33.04, with a volume of 783570 shares traded.
TWTR has been the subject of a number of research analyst reports. Deutsche Bank lifted their target price on shares of Twitter from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Thursday, August 16th. Moffett Nathanson cut their price objective on shares of Twitter from $23.00 to $21.00 and set a “sell” rating for the company in a research report on Monday, September 17th. Pivotal Research raised shares of Twitter from a “sell” rating to a “hold” rating and cut their price objective for the company from $26.00 to $24.00 in a research report on Friday, October 12th. Wedbush reissued a “hold” rating and set a $37.00 price objective on shares of Twitter in a research report on Tuesday, October 23rd. Finally, UBS Group raised shares of Twitter from a “market perform” rating to an “outperform” rating in a research report on Friday, October 26th. Three investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. Twitter currently has a consensus rating of “Hold” and an average price target of $34.38.
The firm has a market capitalization of $23.94 billion, a price-to-earnings ratio of 542.67, a price-to-earnings-growth ratio of 3.04 and a beta of 0.30. The company has a current ratio of 4.61, a quick ratio of 4.61 and a debt-to-equity ratio of 0.27.
In other Twitter news, Director Evan Clark Williams sold 682,242 shares of the business’s stock in a transaction on Thursday, October 11th. The shares were sold at an average price of $27.20, for a total value of $18,556,982.40. Following the sale, the director now owns 1,491,702 shares in the company, valued at approximately $40,574,294.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Ned D. Segal sold 6,000 shares of the business’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $30.44, for a total transaction of $182,640.00. The disclosure for this sale can be found here. Insiders sold a total of 7,739,811 shares of company stock valued at $238,669,503 in the last ninety days. 6.62% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in TWTR. Exane Derivatives lifted its stake in Twitter by 303.0% in the 3rd quarter. Exane Derivatives now owns 3,663 shares of the social networking company’s stock worth $104,000 after purchasing an additional 2,754 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Twitter in the 2nd quarter worth $112,000. Castleark Management LLC purchased a new stake in Twitter in the 2nd quarter worth $121,000. Quad Cities Investment Group LLC purchased a new stake in Twitter in the 2nd quarter worth $132,000. Finally, Focused Wealth Management Inc lifted its stake in Twitter by 144.3% in the 2nd quarter. Focused Wealth Management Inc now owns 3,217 shares of the social networking company’s stock worth $140,000 after purchasing an additional 1,900 shares in the last quarter. Institutional investors and hedge funds own 64.18% of the company’s stock.
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About Twitter (NYSE:TWTR)
Twitter, Inc operates as a platform for public self-expression and conversation in real time. The company offers various products and services, including Twitter that allows users to consume, create, distribute, and discover content; and Periscope, a mobile application that enables user to broadcast and watch video live with others.
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