Wells Fargo & Company MN lessened its stake in Twilio Inc (NYSE:TWLO) by 27.7% during the third quarter, Holdings Channel reports. The institutional investor owned 484,702 shares of the technology company’s stock after selling 185,962 shares during the period. Wells Fargo & Company MN’s holdings in Twilio were worth $41,820,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TWLO. Whale Rock Capital Management LLC bought a new stake in shares of Twilio in the 2nd quarter valued at about $64,266,000. First Trust Advisors LP grew its position in shares of Twilio by 684.7% in the 3rd quarter. First Trust Advisors LP now owns 828,895 shares of the technology company’s stock valued at $71,517,000 after buying an additional 723,257 shares during the last quarter. Millennium Management LLC grew its position in shares of Twilio by 117.5% in the 2nd quarter. Millennium Management LLC now owns 883,901 shares of the technology company’s stock valued at $49,516,000 after buying an additional 477,552 shares during the last quarter. Nomura Holdings Inc. grew its position in shares of Twilio by 2,308.0% in the 2nd quarter. Nomura Holdings Inc. now owns 361,200 shares of the technology company’s stock valued at $20,234,000 after buying an additional 346,200 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Twilio in the 2nd quarter valued at about $18,311,000. Hedge funds and other institutional investors own 59.28% of the company’s stock.
In other news, CEO Jeff Lawson sold 20,830 shares of the firm’s stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $85.72, for a total value of $1,785,547.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Lee Kirkpatrick sold 17,636 shares of the firm’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $86.81, for a total value of $1,530,981.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 175,748 shares of company stock valued at $14,399,832. 19.80% of the stock is owned by corporate insiders.
Twilio (NYSE:TWLO) last announced its quarterly earnings data on Tuesday, November 6th. The technology company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.04. Twilio had a negative return on equity of 18.94% and a negative net margin of 16.70%. The business had revenue of $168.90 million during the quarter, compared to analyst estimates of $151.62 million. During the same period in the prior year, the company earned ($0.08) earnings per share. Twilio’s revenue was up 68.0% compared to the same quarter last year. Analysts anticipate that Twilio Inc will post -0.7 earnings per share for the current year.
TWLO has been the topic of a number of analyst reports. Bank of America upped their price target on Twilio from $63.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, August 7th. Piper Jaffray Companies reiterated a “buy” rating and issued a $85.00 price target on shares of Twilio in a research report on Tuesday, August 7th. Northland Securities reiterated a “buy” rating and issued a $75.00 price target on shares of Twilio in a research report on Tuesday, August 7th. Canaccord Genuity reiterated a “buy” rating and issued a $80.00 price target (up previously from $52.00) on shares of Twilio in a research report on Monday, August 6th. Finally, Deutsche Bank initiated coverage on Twilio in a research report on Monday, October 8th. They issued a “buy” rating and a $88.00 price target on the stock. Two research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Twilio currently has a consensus rating of “Buy” and a consensus price target of $82.22.
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Twilio Inc provides a cloud communications platform that enables developers to build, scale, and operate communications within software applications in the United States and internationally. The company's programmable communications cloud provides a set of application programming interfaces that enable developers to embed voice, messaging, and video capabilities into their applications.
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