Twitter Sees Unusually High Options Volume (TWTR)
Twitter Inc (NYSE:TWTR) was the target of some unusual options trading activity on Friday. Stock traders bought 26,828 put options on the stock. This is an increase of 230% compared to the average daily volume of 8,121 put options.
In other Twitter news, CAO Robert Kaiden sold 7,802 shares of the stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $17.67, for a total transaction of $137,861.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Vijaya Gadde sold 15,000 shares of the stock in a transaction dated Tuesday, April 4th. The shares were sold at an average price of $14.71, for a total transaction of $220,650.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 590,606 shares of company stock valued at $8,663,955. Insiders own 10.79% of the company’s stock.
Large investors have recently made changes to their positions in the company. Highland Capital Management LP raised its stake 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. Contrarius Investment Management Ltd raised its stake 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. Northern Trust Corp raised its stake in shares of Twitter by 3.7% in the third quarter. Northern Trust Corp now owns 4,923,717 shares of the social networking company’s stock valued at $113,492,000 after buying an additional 173,415 shares in the last quarter. Norges Bank purchased a new stake in shares of Twitter during the fourth quarter valued at approximately $57,696,000. Finally, Quantitative Investment Management LLC raised its stake in shares of Twitter by 22.2% in the third quarter. Quantitative Investment Management LLC now owns 1,614,300 shares of the social networking company’s stock valued at $37,209,000 after buying an additional 293,500 shares in the last quarter. Institutional investors own 44.45% of the company’s stock.
Shares of Twitter (NYSE:TWTR) traded down 0.14% during mid-day trading on Friday, hitting $14.63. The company’s stock had a trading volume of 13,785,998 shares. Twitter has a 12-month low of $13.73 and a 12-month high of $25.25. The stock has a 50-day moving average of $14.90 and a 200-day moving average of $17.03. The company’s market cap is $10.48 billion.
Twitter (NYSE:TWTR) last announced its quarterly earnings results on Thursday, February 9th. The social networking company reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.04. The company earned $717 million during the quarter, compared to analyst estimates of $740.17 million. Twitter had a negative return on equity of 4.59% and a negative net margin of 18.06%. The firm’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.16 earnings per share. On average, equities research analysts forecast that Twitter will post $0.30 EPS for the current year.
Several analysts have commented on the stock. Jefferies Group LLC reissued a “buy” rating and set a $20.00 price target on shares of Twitter in a research report on Tuesday. BMO Capital Markets reissued a “hold” rating and set a $17.00 price target on shares of Twitter in a research report on Monday. Pivotal Research restated a “hold” rating and set a $17.00 price objective (down previously from $26.00) on shares of Twitter in a report on Thursday, January 12th. Aegis restated a “sell” rating on shares of Twitter in a report on Saturday, January 21st. Finally, SunTrust Banks, Inc. cut their price objective on shares of Twitter to $16.00 and set a “hold” rating on the stock in a report on Friday, February 10th. Seventeen investment 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. The company has a consensus rating of “Hold” and an average target price of $15.76.
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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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