Twitter, Inc. (TWTR) Short Interest Up 6.3% in August
Twitter, Inc. (NYSE:TWTR) was the target of a large increase in short interest in the month of August. As of August 15th, there was short interest totalling 55,165,560 shares, an increase of 6.3% from the July 31st total of 51,872,713 shares. Approximately 8.7% of the shares of the company are short sold. Based on an average trading volume of 11,845,860 shares, the short-interest ratio is presently 4.7 days.
Several brokerages have recently issued reports on TWTR. Royal Bank Of Canada reaffirmed an “underperform” rating on shares of Twitter in a research note on Saturday, June 3rd. Barclays PLC restated a “sell” rating and set a $16.00 price target on shares of Twitter in a report on Friday, July 28th. Pivotal Research restated a “hold” rating and set a $17.00 price target (up from $15.00) on shares of Twitter in a report on Monday, July 17th. Zacks Investment Research cut shares of Twitter from a “buy” rating to a “hold” rating in a report on Tuesday, May 2nd. Finally, Vetr upgraded shares of Twitter from a “buy” rating to a “strong-buy” rating and set a $19.17 target price for the company in a research note on Monday, June 12th. Sixteen research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $15.49.
Shares of Twitter (NYSE TWTR) opened at 16.93 on Wednesday. The firm’s market capitalization is $12.41 billion. Twitter has a 1-year low of $14.12 and a 1-year high of $25.25. The company has a 50-day moving average price of $17.54 and a 200 day moving average price of $16.82.
Twitter (NYSE:TWTR) last issued its earnings results on Thursday, July 27th. The social networking company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.03. Twitter had a negative return on equity of 2.91% and a negative net margin of 18.25%. The firm had revenue of $574 million for the quarter, compared to analysts’ expectations of $536.63 million. During the same period in the previous year, the firm posted $0.13 earnings per share. The business’s revenue was down 4.7% compared to the same quarter last year. On average, equities research analysts predict that Twitter will post $0.33 EPS for the current year.
In other Twitter news, General Counsel Vijaya Gadde sold 15,000 shares of the firm’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $17.46, for a total transaction of $261,900.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Evan Clark Williams sold 853,700 shares of the firm’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $19.38, for a total transaction of $16,544,706.00. Following the transaction, the director now directly owns 2,735,038 shares in the company, valued at approximately $53,005,036.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,116,373 shares of company stock worth $38,183,574. Corporate insiders own 9.18% of the company’s stock.
Several large investors have recently modified their holdings of TWTR. Clinton Group Inc. boosted its stake in shares of Twitter by 28.8% in the first quarter. Clinton Group Inc. now owns 103,394 shares of the social networking company’s stock valued at $1,546,000 after buying an additional 23,128 shares during the period. World Asset Management Inc boosted its stake in shares of Twitter by 26.1% in the first quarter. World Asset Management Inc now owns 27,077 shares of the social networking company’s stock valued at $405,000 after buying an additional 5,597 shares during the period. State of Alaska Department of Revenue boosted its stake 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 valued at $519,000 after buying an additional 12,690 shares during the period. Prospera Financial Services Inc purchased a new stake in shares of Twitter during the second quarter valued at about $315,000. Finally, Allen Investment Management LLC purchased a new stake in shares of Twitter during the second quarter valued at about $7,169,000. 49.16% of the stock is currently owned by hedge funds and other institutional investors.
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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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