Twitter (TWTR) CFO Anthony Noto Buys 7K Shares with Stock Lagging

(Updated 8:25AM)

Late Thursday evening it was disclosed that Twitter (NYSE: TWTR) CFO, Anthony Noto, bought 6,950 shares from 08/04-08/06 at prices from $27.82-$29.43, bringing his stake to 1,328,663 shares.

While the purchase is a nice boost of confidence for the lagging stock, it should be recalled that Noto also bought stock back in May at $37.50-$38, or 28% above current levels.

Shares of Twitter have been under heavy pressure recently following disappointing earnings and user guidance. The company is also desperately in need of a new permanent CEO after Dick Costolo stepped down and co-founder Jack Dorsey returned on an interim-basis.

While many traders were positive on Mr. Noto's latest purchase disclosure, especially amid the onslaught of selling from other executives, others joked about the paltry amount and still others said the disclosure could suggest that a takeover deal is essentially off the table.

Below is the SEC filing:

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