Twilio Inc. (NYSE:TWLO) Shares Sold by Citigroup Inc.

Citigroup Inc. cut its stake in Twilio Inc. (NYSE:TWLO) by 13.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 109,508 shares of the technology company’s stock after selling 16,728 shares during the quarter. Citigroup Inc.’s holdings in Twilio were worth $7,142,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. increased its stake in Twilio by 18.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,867,623 shares of the technology company’s stock valued at $187,026,000 after purchasing an additional 444,295 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Twilio in the third quarter valued at $758,000. Banque Cantonale Vaudoise acquired a new position in shares of Twilio during the 3rd quarter worth $280,000. Caprock Group LLC boosted its position in shares of Twilio by 152.2% in the 3rd quarter. Caprock Group LLC now owns 11,038 shares of the technology company’s stock worth $720,000 after buying an additional 6,661 shares in the last quarter. Finally, Thrivent Financial for Lutherans purchased a new stake in shares of Twilio in the 3rd quarter worth about $253,000. 84.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Dana Wagner sold 4,174 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $65.02, for a total transaction of $271,393.48. Following the completion of the sale, the insider now owns 152,563 shares of the company’s stock, valued at approximately $9,919,646.26. This represents a 2.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Aidan Viggiano sold 6,682 shares of Twilio stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $65.54, for a total transaction of $437,938.28. Following the transaction, the chief financial officer now directly owns 171,187 shares in the company, valued at approximately $11,219,595.98. This trade represents a 3.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,946 shares of company stock valued at $3,354,771. 4.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Tigress Financial lifted their target price on shares of Twilio from $85.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday. The Goldman Sachs Group lifted their price objective on Twilio from $67.00 to $77.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Monness Crespi & Hardt upgraded Twilio from a “neutral” rating to a “buy” rating and set a $135.00 target price on the stock in a report on Friday, November 15th. Mizuho raised their price target on Twilio from $60.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price objective on Twilio from $78.00 to $83.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $85.87.

Twilio Stock Performance

NYSE:TWLO opened at $104.54 on Friday. Twilio Inc. has a fifty-two week low of $52.51 and a fifty-two week high of $108.44. The firm’s 50 day moving average is $80.59 and its two-hundred day moving average is $66.32. The company has a market cap of $16.03 billion, a P/E ratio of -40.68, a P/E/G ratio of 2.97 and a beta of 1.32. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.12.

Twilio Company Profile

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.