Twitter (NYSE:TWTR) Shares Down 20.8% on Insider Selling

Twitter Inc (NYSE:TWTR) shares dropped 20.8% during mid-day trading on Thursday following insider selling activity. The company traded as low as $30.51 and last traded at $30.75, approximately 106,140,876 shares traded hands during trading. An increase of 593% from the average daily volume of 15,315,729 shares. The stock had previously closed at $38.83.

Specifically, insider Vijaya Gadde sold 8,332 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $39.66, for a total value of $330,447.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Matthew Derella sold 18,004 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $40.29, for a total transaction of $725,381.16. The disclosure for this sale can be found here. Insiders have sold 149,419 shares of company stock worth $6,104,060 over the last 90 days. 2.65% of the stock is currently owned by company insiders.

Several equities analysts have recently commented on TWTR shares. Canaccord Genuity restated a “hold” rating and issued a $35.00 price objective (down from $46.00) on shares of Twitter in a report on Thursday. They noted that the move was a valuation call. Nomura upped their price objective on shares of Twitter from $33.00 to $38.00 and gave the stock a “neutral” rating in a report 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. Zacks Investment Research lowered shares of Twitter from a “buy” rating to a “hold” rating and set a $43.00 price objective on the stock. in a report on Monday, September 30th. Finally, Goldman Sachs Group lowered shares of Twitter from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $52.00 to $34.00 in a report on Thursday. Four investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and twelve have assigned a buy rating to the stock. Twitter has a consensus rating of “Hold” and an average price target of $39.60.

The stock has a market cap of $30.00 billion, a price-to-earnings ratio of 55.91, a PEG ratio of 0.80 and a beta of 0.59. The stock’s 50 day moving average is $41.29 and its two-hundred day moving average is $38.94. The company has a current ratio of 4.33, a quick ratio of 4.33 and a debt-to-equity ratio of 0.29.

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 firm had revenue of $841.40 million during the quarter, compared to analysts’ expectations of $828.07 million. Twitter had a net margin of 71.46% and a return on equity of 7.93%. Twitter’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 EPS. On average, sell-side analysts predict that Twitter Inc will post 2.06 EPS for the current year.

A number of large investors have recently modified their holdings of TWTR. Keystone Financial Group lifted its stake in shares of Twitter by 3.5% in the 2nd quarter. Keystone Financial Group now owns 8,093 shares of the social networking company’s stock worth $282,000 after acquiring an additional 270 shares during the period. Truvestments Capital LLC lifted its stake in shares of Twitter by 55.7% in the third quarter. Truvestments Capital LLC now owns 836 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 299 shares during the period. Winslow Evans & Crocker Inc. lifted its stake in shares of Twitter by 24.9% in the third quarter. Winslow Evans & Crocker Inc. now owns 1,544 shares of the social networking company’s stock valued at $64,000 after purchasing an additional 308 shares during the period. Impax Asset Management Group plc lifted its stake in shares of Twitter by 1.1% in the second quarter. Impax Asset Management Group plc now owns 28,874 shares of the social networking company’s stock valued at $1,008,000 after purchasing an additional 309 shares during the period. Finally, Signaturefd LLC lifted its stake in shares of Twitter by 8.0% in the second quarter. Signaturefd LLC now owns 4,193 shares of the social networking company’s stock valued at $146,000 after purchasing an additional 310 shares during the period. Hedge funds and other institutional investors own 69.28% of the company’s stock.

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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