Twitter (NYSE:TWTR) Trading Down 5.8% Following Insider Selling

Shares of Twitter Inc (NYSE:TWTR) dropped 5.8% during trading on Monday after an insider sold shares in the company. The company traded as low as $39.62 and last traded at $40.37, approximately 22,259,270 shares were traded during trading. An increase of 36% from the average daily volume of 16,393,322 shares. The stock had previously closed at $42.85.

Specifically, insider Robert Kaiden sold 9,441 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $43.04, for a total transaction of $406,340.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Vijaya Gadde sold 4,166 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $35.11, for a total transaction of $146,268.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 117,591 shares of company stock worth $4,521,728. 2.65% of the stock is owned by corporate insiders.

TWTR has been the subject of a number of recent research reports. Guggenheim restated a “buy” rating and set a $44.00 price target (up previously from $41.00) on shares of Twitter in a research note on Wednesday, April 24th. Nomura boosted their price target on shares of Twitter from $33.00 to $38.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Mizuho set a $35.00 price objective on shares of Twitter and gave the stock a “sell” rating in a report on Friday, July 26th. Aegis lifted their price objective on shares of Twitter from $41.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Finally, Pivotal Research began coverage on shares of Twitter in a report on Wednesday, May 29th. They set a “buy” rating and a $48.00 price objective on the stock. Four equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $40.82.

The company has a fifty day moving average price of $37.36. The company has a quick ratio of 4.47, a current ratio of 4.33 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $33.12 billion, a P/E ratio of 73.40, a PEG ratio of 0.98 and a beta of 0.62.

Twitter (NYSE:TWTR) last issued its quarterly earnings results on Friday, July 26th. The social networking company reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.03. The company had revenue of $841.40 million for the quarter, compared to the consensus estimate of $828.07 million. Twitter had a net margin of 71.46% and a return on equity of 7.93%. The firm’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.17 EPS. Equities analysts forecast that Twitter Inc will post 1.87 EPS for the current fiscal year.

Large investors have recently modified their holdings of the stock. Clearbridge Investments LLC raised its stake in Twitter by 11.5% in the 1st quarter. Clearbridge Investments LLC now owns 30,512,378 shares of the social networking company’s stock valued at $1,003,247,000 after acquiring an additional 3,144,553 shares during the period. Northern Trust Corp raised its stake in Twitter by 0.5% in the 1st quarter. Northern Trust Corp now owns 10,759,439 shares of the social networking company’s stock valued at $353,770,000 after acquiring an additional 52,682 shares during the period. Geode Capital Management LLC raised its stake in Twitter by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 9,133,563 shares of the social networking company’s stock valued at $262,033,000 after acquiring an additional 569,560 shares during the period. First Trust Advisors LP raised its stake in Twitter by 23.1% in the 1st quarter. First Trust Advisors LP now owns 8,908,905 shares of the social networking company’s stock valued at $292,925,000 after acquiring an additional 1,673,894 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Twitter by 23.1% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,919,539 shares of the social networking company’s stock valued at $206,592,000 after acquiring an additional 1,110,127 shares during the period. 67.45% of the stock is currently owned by institutional investors.

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, a platform 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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