Twilio Inc. $TWLO Stake Reduced by Ritholtz Wealth Management

Ritholtz Wealth Management cut its holdings in Twilio Inc. (NYSE:TWLO) by 18.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,806 shares of the technology company’s stock after selling 3,315 shares during the quarter. Ritholtz Wealth Management’s holdings in Twilio were worth $4,330,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of TWLO. Royal Bank of Canada lifted its stake in Twilio by 10.8% during the first quarter. Royal Bank of Canada now owns 3,261,235 shares of the technology company’s stock valued at $410,330,000 after purchasing an additional 316,858 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Twilio by 21.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 997,501 shares of the technology company’s stock worth $300,517,000 after buying an additional 173,467 shares in the last quarter. Artemis Investment Management LLP grew its position in Twilio by 58.9% in the third quarter. Artemis Investment Management LLP now owns 588,018 shares of the technology company’s stock worth $171,972,000 after buying an additional 217,952 shares during the last quarter. Atreides Management LP grew its position in Twilio by 28.5% in the first quarter. Atreides Management LP now owns 921,602 shares of the technology company’s stock worth $115,956,000 after buying an additional 204,656 shares during the last quarter. Finally, KBC Group NV grew its position in Twilio by 1.4% in the first quarter. KBC Group NV now owns 790,548 shares of the technology company’s stock worth $99,466,000 after buying an additional 11,014 shares during the last quarter. 84.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on TWLO shares. KeyCorp increased their price objective on Twilio from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. UBS Group reduced their price objective on Twilio from $285.00 to $255.00 and set a “buy” rating for the company in a research note on Friday, October 30th. Piper Sandler lifted their target price on Twilio from $192.00 to $247.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Wolfe Research raised Twilio to a “buy” rating in a research report on Friday, August 7th. Finally, Monness Crespi & Hardt upped their target price on Twilio from $246.00 to $270.00 and gave the company a “buy” rating in a report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $269.48.

Twilio Trading Down 3.2%

Shares of NYSE:TWLO opened at $212.56 on Friday. The firm has a fifty day moving average of $252.98 and a two-hundred day moving average of $192.00. The firm has a market capitalization of $32.89 billion, a P/E ratio of 26.74, a price-to-earnings-growth ratio of 4.26 and a beta of 1.49. Twilio Inc. has a 12-month low of $105.00 and a 12-month high of $308.40. The company has a quick ratio of 4.47, a current ratio of 4.47 and a debt-to-equity ratio of 0.11.

Twilio (NYSE:TWLO) last posted its quarterly earnings results on Thursday, October 29th. The technology company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.47 by $0.18. Twilio had a net margin of 21.82% and a return on equity of 5.58%. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the previous year, the company posted $1.25 EPS. Twilio’s revenue was up 19.9% on a year-over-year basis. On average, equities analysts expect that Twilio Inc. will post 3.29 EPS for the current fiscal year.

Insider Transactions at Twilio

In other news, CEO Khozema Shipchandler sold 14,442 shares of the firm’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $291.03, for a total transaction of $4,203,055.26. Following the completion of the sale, the chief executive officer directly owned 178,863 shares of the company’s stock, valued at $52,054,498.89. This trade represents a 7.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aidan Viggiano sold 9,084 shares of Twilio stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $294.65, for a total value of $2,676,600.60. Following the sale, the chief financial officer owned 99,246 shares of the company’s stock, valued at approximately $29,242,833.90. This represents a 8.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 38,818 shares of company stock worth $11,293,645 in the last 90 days. Corporate insiders own 0.21% of the company’s stock.

Twilio Profile

Twilio provides cloud-based communications software that enables businesses to communicate with customers through applications and digital channels. Its platform offers APIs and related tools for integrating messaging, voice, video and email capabilities into software and customer workflows. Its offerings include programmable communications products, the Twilio Flex contact center platform, SendGrid email services, and Segment, a customer data platform. Twilio also provides tools for customer identity verification and engagement, helping organizations manage communications and customer data across their operations.