Sumitomo Mitsui Asset Management Company LTD reduced its stake in shares of Twilio Inc (NYSE:TWLO) by 84.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 73,035 shares of the technology company’s stock after selling 408,350 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Twilio were worth $6,301,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of TWLO. Catalyst Capital Advisors LLC bought a new stake in Twilio during the 2nd quarter worth approximately $112,000. Cerebellum GP LLC purchased a new position in shares of Twilio in the 2nd quarter worth approximately $161,000. Tower Research Capital LLC TRC purchased a new position in shares of Twilio in the 2nd quarter worth approximately $182,000. M Holdings Securities Inc. purchased a new position in shares of Twilio in the 2nd quarter worth approximately $209,000. Finally, Global X Management Co LLC purchased a new position in shares of Twilio in the 2nd quarter worth approximately $210,000. 57.90% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on TWLO. Monness Crespi & Hardt boosted their target price on Twilio from $85.00 to $108.00 and gave the stock a “buy” rating in a research note on Wednesday, September 12th. JMP Securities boosted their target price on Twilio from $76.00 to $86.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 4th. DA Davidson began coverage on Twilio in a research note on Tuesday, October 2nd. They issued a “buy” rating and a $99.00 target price on the stock. Mitsubishi UFJ Financial Group boosted their target price on Twilio to $82.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 14th. Finally, Bank of America boosted their target price on Twilio from $63.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, August 7th. Two equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Twilio currently has a consensus rating of “Buy” and a consensus target price of $76.55.
In related news, COO George Hu sold 7,614 shares of the company’s stock in a transaction that occurred on Friday, July 27th. The stock was sold at an average price of $62.97, for a total value of $479,453.58. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Karyn Smith sold 2,009 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $73.71, for a total value of $148,083.39. The disclosure for this sale can be found here. In the last quarter, insiders sold 197,740 shares of company stock worth $15,342,524. 19.80% of the stock is owned by company insiders.
Twilio stock opened at $74.01 on Thursday. Twilio Inc has a 12 month low of $23.25 and a 12 month high of $88.88. The company has a current ratio of 7.20, a quick ratio of 7.20 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $8.41 billion, a P/E ratio of -94.88 and a beta of 0.31.
Twilio (NYSE:TWLO) last posted its quarterly earnings data on Monday, August 6th. The technology company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.09. Twilio had a negative return on equity of 21.41% and a negative net margin of 18.29%. The business had revenue of $147.80 million for the quarter, compared to the consensus estimate of $130.39 million. During the same quarter in the prior year, the business earned ($0.05) earnings per share. Twilio’s revenue for the quarter was up 54.1% on a year-over-year basis. On average, analysts predict that Twilio Inc will post -0.78 earnings per share for the current year.
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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