Twitter Inc (TWTR) Sees Large Increase in Short Interest

Twitter Inc (NYSE:TWTR) was the target of a large increase in short interest in June. As of June 15th, there was short interest totalling 53,502,012 shares, an increase of 31.8% from the May 31st total of 40,604,552 shares. Approximately 8.0% of the shares of the company are short sold. Based on an average trading volume of 51,420,382 shares, the short-interest ratio is presently 1.0 days.

In other Twitter news, Director Evan Clark Williams sold 539,027 shares of the stock in a transaction on Wednesday, April 11th. The stock was sold at an average price of $29.00, for a total value of $15,631,783.00. Following the sale, the director now directly owns 2,074,330 shares of the company’s stock, valued at $60,155,570. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Kaiden sold 1,421 shares of the stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $28.12, for a total value of $39,958.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,330,984 shares of company stock worth $121,560,626. Corporate insiders own 10.79% of the company’s stock.

Several large investors have recently added to or reduced their stakes in TWTR. American International Group Inc. acquired a new position in shares of Twitter in the 4th quarter valued at $339,000. Hudson Bay Capital Management LP acquired a new position in shares of Twitter in the 4th quarter valued at $1,822,000. Carnegie Capital Asset Management LLC boosted its position in shares of Twitter by 8.3% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 112,775 shares of the social networking company’s stock valued at $3,035,000 after purchasing an additional 8,600 shares during the period. AO Asset Management LP acquired a new position in shares of Twitter in the 4th quarter valued at $10,941,000. Finally, Mackenzie Financial Corp boosted its position in shares of Twitter by 54.6% in the 4th quarter. Mackenzie Financial Corp now owns 41,080 shares of the social networking company’s stock valued at $986,000 after purchasing an additional 14,504 shares during the period. Institutional investors and hedge funds own 59.57% of the company’s stock.

Shares of Twitter opened at $44.79 on Friday, Marketbeat reports. Twitter has a fifty-two week low of $15.67 and a fifty-two week high of $47.79. The stock has a market cap of $33.75 billion, a P/E ratio of 746.50, a PEG ratio of 5.51 and a beta of 0.90. The company has a quick ratio of 10.23, a current ratio of 10.23 and a debt-to-equity ratio of 0.33.

Twitter (NYSE:TWTR) last announced its earnings results on Wednesday, April 25th. The social networking company reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.15. Twitter had a return on equity of 2.81% and a net margin of 0.57%. The business had revenue of $665.00 million during the quarter, compared to analysts’ expectations of $607.56 million. During the same quarter last year, the business posted $0.07 earnings per share. The company’s quarterly revenue was up 21.3% on a year-over-year basis. sell-side analysts predict that Twitter will post 0.35 EPS for the current fiscal year.

Several brokerages have weighed in on TWTR. UBS Group increased their target price on Twitter from $36.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, June 15th. Argus increased their target price on Twitter from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, June 6th. ValuEngine raised Twitter from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 2nd. Deutsche Bank increased their target price on Twitter to $32.00 and gave the stock a “hold” rating in a research report on Wednesday, May 2nd. They noted that the move was a valuation call. Finally, SunTrust Banks increased their target price on Twitter to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, April 26th. They noted that the move was a valuation call. Five analysts have rated the stock with a sell rating, twenty have given a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $28.15.

About Twitter

Twitter, Inc operates as a platform for public self-expression and conversation in real time. The company offers various products and services, including Twitter 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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