Twitter Inc (NYSE:TWTR) Vice president Alexander Roetter unloaded 12,494 shares of the company’s stock in a transaction occurred on Monday, June 2nd. Roetter sold the shares at an average price of $31.76 for a total transaction value of $396,809.44. Separately, Twitter Vice President Luca Baratta, also, sold of 1,875 shares of Twitter stock in a transaction that occurred on Tuesday June 3rd and sold it an average price of $32.50, for a total transaction value of $60,937.50, according to a filing with SEC.
Deals boosting stock
Twitter Inc (NYSE:TWTR) is down by more than 52% year-to-date, however, the stock witnessed a positive trend this week. Twitter Inc and Billboard announced a Real Time Chart through which fans will be able to interact and discuss popular content by ranking the most popular songs shared on the micro blogging company’s platform. Twitter shares are greatly influenced by the recent agreement with Omnicom Group, who will pay Twitter for access to its MoPub platform. Twitter acquired MoPub for $350 million in 2013 to allure more advertisers.
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Many analysts have come out with their verdict on the micro-blogging site. Pacific Crest analysts started covering Twitter Inc (NYSE:TWTR) shares in a research note on June 4th, assigning the company an Outperform rating. Separately, analysts at Cantor Fitzgerald increased their rating from Hold to Buy in a research note to investors on Thursday, May 29th and assigned it a price target of $44.00. Nomura analysts, also, upgraded the share from Neutral to a Buy rating in a research note on Wednesday, May 28th assigning it a price target of $43.00. Overall, Twitter has a consensus rating of Hold and a consensus target price of $45.67.
Twitter playing music
Twitter Inc (NYSE:TWTR) is planning and reportedly in talks with Berlin-based online music platform SoundCloud to buy Armour, a music service in its portfolio, according to a report from Financial Times citing sources familiar with the matter. The company has also previously tried to strike a deal with music-streaming service Spotify and Internet-radio provider Pandora Media.
SoundCloud enables the users to upload record, promote and share music. The micro blogging site is making efforts to add more multimedia content to its offerings. Last year, it brought ‘We Are Hunted,’ which is a three person music streaming start-up from Australia.
Twitter Inc (NYSE:TWTR) is speeding up its effort to acquire music streaming services after Apple acquired Beats, the headphones and music-streaming firm founded by Jimmy Lovine and Dr. Dre.