Twilio Inc. (NYSE:TWLO) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC trimmed its holdings in Twilio Inc. (NYSE:TWLO) by 8.5% during the second quarter, Holdings Channel reports. The institutional investor owned 45,407 shares of the technology company’s stock after selling 4,227 shares during the period. Commonwealth Equity Services LLC’s holdings in Twilio were worth $2,580,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TWLO. Norges Bank acquired a new stake in Twilio in the 4th quarter worth about $179,739,000. Kodai Capital Management LP acquired a new position in shares of Twilio in the 4th quarter valued at about $82,558,000. Contrarius Investment Management Ltd acquired a new position in shares of Twilio in the 4th quarter valued at about $80,043,000. Panagora Asset Management Inc. lifted its stake in shares of Twilio by 286.3% in the 2nd quarter. Panagora Asset Management Inc. now owns 716,551 shares of the technology company’s stock valued at $40,707,000 after purchasing an additional 531,075 shares in the last quarter. Finally, Goldentree Asset Management LP acquired a new position in shares of Twilio in the 1st quarter valued at about $31,745,000. 84.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TWLO. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price objective (up from $77.00) on shares of Twilio in a research note on Friday, August 2nd. Barclays reduced their price objective on Twilio from $70.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. StockNews.com lowered Twilio from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. JPMorgan Chase & Co. lifted their price objective on Twilio from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $71.00 price target on shares of Twilio in a research report on Monday, May 20th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $70.52.

Twilio Price Performance

TWLO stock opened at $58.94 on Thursday. The company has a quick ratio of 5.57, a current ratio of 5.57 and a debt-to-equity ratio of 0.11. Twilio Inc. has a 52-week low of $49.86 and a 52-week high of $78.16. The stock’s 50 day moving average is $59.40 and its two-hundred day moving average is $59.33. The company has a market capitalization of $9.47 billion, a PE ratio of -14.70, a P/E/G ratio of 3.31 and a beta of 1.35.

Twilio (NYSE:TWLO) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.17. Twilio had a negative return on equity of 0.22% and a negative net margin of 14.02%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the business earned ($0.23) EPS. Twilio’s revenue for the quarter was up 4.4% compared to the same quarter last year. Analysts predict that Twilio Inc. will post 0.54 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Aidan Viggiano sold 6,797 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $56.33, for a total value of $382,875.01. Following the completion of the sale, the chief financial officer now directly owns 195,048 shares in the company, valued at approximately $10,987,053.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Aidan Viggiano sold 6,797 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $56.33, for a total value of $382,875.01. Following the completion of the sale, the chief financial officer now directly owns 195,048 shares in the company, valued at approximately $10,987,053.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Khozema Shipchandler sold 11,241 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $56.29, for a total value of $632,755.89. Following the completion of the sale, the chief executive officer now owns 300,084 shares of the company’s stock, valued at $16,891,728.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,030 shares of company stock worth $2,677,475. 4.50% of the stock is currently owned by insiders.

About Twilio

Twilio Inc, together with its subsidiaries, provides customer engagement platform solutions in the United States and internationally. It operates through two segments, Twilio Communications and Twilio Segment. The company provides various application programming interfaces and software solutions for communications between customers and end users, including messaging, voice, email, flex, marketing campaigns, and user identity and authentication.