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Twitter Director Sells Over Half a Million Shares in Two Days

ACCESSWIRE

By Chasing Markets

BOCA RATON, FL / ACCESSWIRE / April 17, 2018 / In recent Insider Activity news, Twitter (TWTR) Director Evan Clark Williams sold over half a million shares of Twitter stock in transactions that occurred between Monday March 12 thru Wednesday, March 14th. These shares were sold in multiple transactions at prices ranging from $28.30 to $29.285 per share.

Mr. Evan Clark Williams, also known as Ev, Co-Founded Twitter, Inc. in 2006 and served as the President and Chief Executive Officer of Twitter, Inc. from October 2008 to October 2010. He served as Chief Financial Officer of Twitter, Inc. from July 2009 to March 2010 and served as its Chief Product Officer from February 2008 to October 2008.

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Morgan Stanley upgraded the stock on the basis of ‘improving user growth’ and the stock soared 10%.

Morgan Stanley raised its rating for Twitter (TWTR) shares to equal weight from underweight, predicting better ad sales growth this year.

“Constructive advertiser conversations, improving user growth, and positive revisions make [Twitter shares] a more compelling risk/reward,” analyst Brian Nowak wrote in a note to clients Tuesday. “Recent advertiser conversations continue to be incrementally positive about Twitter’s ad business.”

Nowak increased his price target for Twitter (TWTR) shares to $29 from $28, representing 1.5 percent upside to Monday’s close.

He said Twitter improved its ad tools for companies to better target users. He also noted that Twitter has reduced ad prices, spurring more demand.

“We believe Twitter’s video ad product continues to perform well as advertisers continue to look for higher quality online video impressions,” he wrote.

As a result, the analyst raised his 2018 Twitter sales estimate to $2.75 billion from $2.69 billion.

Source for the insider tranactions can be found here For Twitter (TWTR) https://www.sec.gov/Archives/edgar/data/1418091/000143774918006794/0001437749-18-006794.txt

SOURCE: Chasing Markets

ReleaseID: 496378