Wedbush Securities Inc. reduced its stake in Twilio Inc (NYSE:TWLO) by 21.6% during the 3rd quarter, Holdings Channel reports. The firm owned 6,467 shares of the technology company’s stock after selling 1,783 shares during the period. Wedbush Securities Inc.’s holdings in Twilio were worth $558,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently made changes to their positions in the business. Principal Financial Group Inc. acquired a new position in shares of Twilio during the first quarter valued at about $249,000. Janney Montgomery Scott LLC acquired a new position in shares of Twilio during the second quarter valued at about $517,000. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Twilio by 40.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 34,898 shares of the technology company’s stock valued at $1,955,000 after buying an additional 9,999 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Twilio by 41.7% during the second quarter. Commonwealth Equity Services LLC now owns 10,649 shares of the technology company’s stock valued at $597,000 after buying an additional 3,134 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Twilio during the second quarter valued at about $3,105,000. Institutional investors own 59.43% of the company’s stock.
A number of research analysts have recently issued reports on TWLO shares. Deutsche Bank started coverage on shares of Twilio in a report on Monday, October 8th. They set a “buy” rating and a $88.00 price objective for the company. Monness Crespi & Hardt boosted their price target on shares of Twilio from $85.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, September 12th. JMP Securities boosted their price target on shares of Twilio from $76.00 to $86.00 and gave the stock an “outperform” rating in a report on Tuesday, September 4th. Zacks Investment Research upgraded shares of Twilio from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a report on Friday, October 12th. Finally, KeyCorp restated a “buy” rating and set a $99.00 price target on shares of Twilio in a report on Thursday, October 11th. Two analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Twilio presently has an average rating of “Buy” and an average target price of $82.22.
Twilio (NYSE:TWLO) last announced its quarterly earnings data on Tuesday, November 6th. The technology company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.04. The business had revenue of $168.90 million for the quarter, compared to analyst estimates of $151.62 million. Twilio had a negative net margin of 16.70% and a negative return on equity of 18.94%. The company’s revenue for the quarter was up 68.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. Equities analysts anticipate that Twilio Inc will post -0.69 earnings per share for the current fiscal year.
In other Twilio news, CEO Jeff Lawson sold 20,830 shares of Twilio stock in a transaction dated Thursday, October 18th. The shares were sold at an average price of $71.67, for a total value of $1,492,886.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Karyn Smith sold 939 shares of Twilio stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $74.55, for a total transaction of $70,002.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 189,001 shares of company stock worth $15,713,556. Insiders own 19.80% of the company’s stock.
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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