Twitter (TWTR) Upgraded by Royal Bank of Canada to Sector Perform
Twitter (NYSE:TWTR) was upgraded by analysts at Royal Bank of Canada from an “underperform” rating to a “sector perform” rating in a research report issued on Thursday, Marketbeat reports.
A number of other research analysts have also recently issued reports on TWTR. SunTrust Banks reissued a “hold” rating and set a $16.00 price target on shares of Twitter in a research report on Thursday, October 12th. BidaskClub raised shares of Twitter from a “hold” rating to a “buy” rating in a research report on Tuesday, October 17th. Canaccord Genuity reissued a “hold” rating and set a $15.00 price target on shares of Twitter in a research report on Friday, October 20th. Wedbush set a $16.00 price target on shares of Twitter and gave the company a “hold” rating in a research report on Monday, October 23rd. Finally, Cantor Fitzgerald reissued a “hold” rating and set a $16.00 price target on shares of Twitter in a research report on Monday, October 23rd. Nine analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $22.56.
Shares of Twitter (NYSE:TWTR) opened at $31.51 on Thursday. Twitter has a 12-month low of $14.12 and a 12-month high of $35.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 10.40 and a quick ratio of 10.40. The company has a market cap of $24,440.00, a PE ratio of -210.07, a PEG ratio of 11.73 and a beta of 1.14.
In other news, insider Robert Kaiden sold 3,930 shares of Twitter stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $20.62, for a total value of $81,036.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Evan Clark Williams sold 565,000 shares of Twitter stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $20.08, for a total transaction of $11,345,200.00. Following the completion of the sale, the director now owns 2,441,312 shares of the company’s stock, valued at $49,021,544.96. The disclosure for this sale can be found here. Insiders sold 3,225,011 shares of company stock valued at $69,509,411 over the last ninety days. Corporate insiders own 10.79% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Balentine LLC grew its stake in shares of Twitter by 86.6% in the third quarter. Balentine LLC now owns 6,822 shares of the social networking company’s stock worth $115,000 after acquiring an additional 3,167 shares during the period. Toronto Dominion Bank grew its stake in shares of Twitter by 21.3% in the second quarter. Toronto Dominion Bank now owns 7,592 shares of the social networking company’s stock worth $136,000 after acquiring an additional 1,333 shares during the period. Marcus Capital LLC bought a new stake in shares of Twitter in the fourth quarter worth approximately $212,000. Telemus Capital LLC bought a new stake in shares of Twitter in the fourth quarter worth approximately $214,000. Finally, Malaga Cove Capital LLC bought a new stake in shares of Twitter in the third quarter worth approximately $154,000. Hedge funds and other institutional investors own 50.12% of the company’s stock.
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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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