Shares of Twitter, Inc. (NYSE:TWTR – Get Rating) have been assigned an average recommendation of “Hold” from the thirty-five ratings firms that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $48.21.
TWTR has been the subject of a number of recent analyst reports. Stifel Nicolaus lowered shares of Twitter from a “hold” rating to a “sell” rating in a research note on Thursday. Guggenheim reissued a “buy” rating and set a $34.00 target price on shares of Twitter in a research report on Friday, March 18th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Twitter in a report on Friday, March 11th. They issued a “hold” rating and a $35.00 price target for the company. Wedbush cut their price objective on shares of Twitter from $46.00 to $42.00 and set a “neutral” rating on the stock in a report on Friday, February 11th. Finally, BMO Capital Markets reduced their price objective on shares of Twitter from $65.00 to $40.00 and set a “market perform” rating for the company in a research note on Friday, February 11th.
Shares of TWTR traded up $3.37 during trading hours on Monday, reaching $48.45. 147,598,057 shares of the company traded hands, compared to its average volume of 36,719,453. The firm has a market cap of $38.79 billion, a price-to-earnings ratio of -161.49 and a beta of 0.80. Twitter has a 12-month low of $31.30 and a 12-month high of $73.34. The company has a current ratio of 5.89, a quick ratio of 5.89 and a debt-to-equity ratio of 0.58. The stock’s fifty day moving average price is $38.48 and its 200 day moving average price is $44.31.
Twitter declared that its board has initiated a share repurchase plan on Thursday, February 10th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the social networking company to repurchase up to 14% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.
In other Twitter news, CAO Robert Kaiden sold 5,614 shares of the company’s stock in a transaction dated Tuesday, February 1st. The shares were sold at an average price of $37.04, for a total value of $207,942.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ned D. Segal sold 5,000 shares of the company’s stock in a transaction dated Tuesday, April 12th. The stock was sold at an average price of $47.14, for a total transaction of $235,700.00. Following the completion of the transaction, the chief financial officer now owns 522,129 shares of the company’s stock, valued at approximately $24,613,161.06. The disclosure for this sale can be found here. Insiders have sold 20,614 shares of company stock valued at $781,743 over the last 90 days. 2.56% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TWTR. Lone Pine Capital LLC raised its position in shares of Twitter by 117.4% during the 3rd quarter. Lone Pine Capital LLC now owns 21,533,828 shares of the social networking company’s stock worth $1,300,428,000 after purchasing an additional 11,630,881 shares during the last quarter. Norges Bank acquired a new position in Twitter during the fourth quarter worth $313,565,000. Capital World Investors acquired a new position in Twitter during the fourth quarter worth $304,660,000. Renaissance Technologies LLC boosted its stake in Twitter by 2,650.9% during the fourth quarter. Renaissance Technologies LLC now owns 4,404,196 shares of the social networking company’s stock worth $190,349,000 after buying an additional 4,244,096 shares during the last quarter. Finally, ARK Investment Management LLC boosted its stake in Twitter by 25.1% during the fourth quarter. ARK Investment Management LLC now owns 17,245,755 shares of the social networking company’s stock worth $745,362,000 after buying an additional 3,460,856 shares during the last quarter. Hedge funds and other institutional investors own 78.96% of the company’s stock.
About Twitter (Get Rating)
Twitter, Inc operates as a platform for public self-expression and conversation in real-time. The company offers Twitter, a platform that allows users to consume, create, distribute, and discover content. It also provides promoted products and services, such as promoted ads and Twitter amplify, follower ads, and Twitter takeover; Tips to directly send small one-time payments on Twitter using various payment methods, including bitcoin; Super Follows, a paid monthly subscription, which includes bonus content, exclusive previews, and perks as a way to support and connect with creators on Twitter; and Ticketed Spaces to support creators on Twitter for their time and effort in hosting, speaking, and moderating the public conversation on Twitter Spaces.
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