DAVENPORT & Co LLC lessened its stake in Twilio Inc. (NYSE:TWLO – Get Rating) by 16.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,625 shares of the technology company's stock after selling 2,462 shares during the quarter. DAVENPORT & Co LLC's holdings in Twilio were worth $1,058,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Evoke Wealth LLC boosted its holdings in shares of Twilio by 255.1% in the 1st quarter. Evoke Wealth LLC now owns 174 shares of the technology company's stock valued at $29,000 after purchasing an additional 125 shares during the last quarter. Sigma Planning Corp raised its stake in shares of Twilio by 5.4% in the 1st quarter. Sigma Planning Corp now owns 3,679 shares of the technology company's stock valued at $606,000 after acquiring an additional 189 shares during the period. Balentine LLC purchased a new position in shares of Twilio in the 1st quarter valued at $285,000. Bell Bank raised its stake in shares of Twilio by 7.8% in the 1st quarter. Bell Bank now owns 2,573 shares of the technology company's stock valued at $424,000 after acquiring an additional 186 shares during the period. Finally, Archon Capital Management LLC purchased a new position in shares of Twilio in the 1st quarter valued at $972,000. Institutional investors and hedge funds own 79.32% of the company's stock.
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Wall Street Analyst Weigh In
TWLO has been the topic of a number of research reports. BTIG Research cut their target price on shares of Twilio from $130.00 to $105.00 and set a "buy" rating on the stock in a research note on Thursday, September 15th. Piper Sandler cut their target price on shares of Twilio from $122.00 to $113.00 and set an "overweight" rating on the stock in a research note on Monday. Cowen dropped their price target on shares of Twilio from $150.00 to $125.00 in a research note on Friday, August 5th. Stifel Nicolaus dropped their price target on shares of Twilio from $90.00 to $80.00 and set a "hold" rating on the stock in a research note on Thursday, September 15th. Finally, Sanford C. Bernstein began coverage on shares of Twilio in a research note on Tuesday, July 19th. They set a "market perform" rating and a $91.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $151.62.
Insider Buying and Selling at Twilio
In other Twilio news, COO Khozema Shipchandler sold 1,454 shares of the business's stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $90.21, for a total transaction of $131,165.34. Following the completion of the transaction, the chief operating officer now directly owns 90,000 shares of the company's stock, valued at approximately $8,118,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at
the SEC website. In other news, insider Eyal Manor sold 397 shares of the company's stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $76.34, for a total value of $30,306.98. Following the completion of the sale, the insider now directly owns 156,084 shares of the company's stock, valued at approximately $11,915,452.56. The sale was disclosed in a document filed with the SEC, which is available at
this hyperlink. Also, COO Khozema Shipchandler sold 1,454 shares of the company's stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $90.21, for a total transaction of $131,165.34. Following the completion of the sale, the chief operating officer now directly owns 90,000 shares of the company's stock, valued at $8,118,900. The disclosure for this sale can be found
here. Insiders sold 11,128 shares of company stock valued at $944,301 in the last ninety days. Company insiders own 4.96% of the company's stock.
Twilio Trading Down 3.7 %
NYSE TWLO opened at $70.59 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.42 and a current ratio of 6.42. The company has a 50-day simple moving average of $77.62 and a 200-day simple moving average of $101.89. The firm has a market capitalization of $12.82 billion, a PE ratio of -11.98 and a beta of 1.58. Twilio Inc. has a one year low of $64.29 and a one year high of $373.00.
Twilio (NYSE:TWLO – Get Rating) last posted its earnings results on Thursday, August 4th. The technology company reported ($1.47) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.96) by ($0.51). The firm had revenue of $943.35 million for the quarter, compared to analyst estimates of $920.97 million. Twilio had a negative net margin of 31.16% and a negative return on equity of 7.05%. The company's revenue for the quarter was up 41.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.94) earnings per share. On average, equities analysts forecast that Twilio Inc. will post -4.27 earnings per share for the current year.
Twilio Company Profile
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Twilio Inc, together with its subsidiaries, provides a cloud communications platform that enables developers to build, scale, and operate customer engagement within software applications in the United States and internationally. Its customer engagement platform provides a set of application programming interfaces that handle the higher-level communication logic needed for nearly every type of customer engagement, as well as enable developers to embed voice, messaging, video, and email capabilities into their applications.
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