Large Twitter (TWTR) Investor Sold 25% of Stake in Q1
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Twitter (NYSE: TWTR) is on watch as one of its largest investors sold a sizable chunk in Q1.
Bloomberg noted Monday night that T. Rowe Price ended Q1 with 13.56 million shares of Twitter, according to a recent regulatory filing. That's down from the 18.2 million shares the company held following Twitter's IPO late last year.
T. Rowe Price's sale comes as Twitter stock fell 27 percent in Q1 and is down 50 percent for 2014.
Amid the sale, T. Rowe Price is still the 12th largest investor with a 2.3 percent stake. The firm's biggest stake of 4.61 million shares is held by its New Horizons Fund, which didn't sell any last quarter.
T. Rowe Price, alongwith Spark Capital, Benchmark, and Venture Partners, sank $100 million into Twitter in 2009, valuing the company at $1 billion. Twitter's current market cap is hovering around $19 billion.
Shares of Twitter are positive in early Tuesday trading.
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