Twilio Inc. (NYSE:TWLO) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its position in Twilio Inc. (NYSE:TWLOGet Rating) by 90.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,552 shares of the technology company’s stock after selling 98,223 shares during the period. Truist Financial Corp’s holdings in Twilio were worth $730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in TWLO. Vanguard Group Inc. raised its position in Twilio by 25.6% in the first quarter. Vanguard Group Inc. now owns 13,121,939 shares of the technology company’s stock valued at $2,162,627,000 after purchasing an additional 2,678,049 shares during the period. ARK Investment Management LLC raised its position in Twilio by 22.5% in the third quarter. ARK Investment Management LLC now owns 6,826,631 shares of the technology company’s stock valued at $471,993,000 after purchasing an additional 1,254,195 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in Twilio by 13.5% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,230,485 shares of the technology company’s stock valued at $361,636,000 after purchasing an additional 622,449 shares during the period. Nikko Asset Management Americas Inc. raised its position in Twilio by 9.8% in the second quarter. Nikko Asset Management Americas Inc. now owns 4,124,892 shares of the technology company’s stock valued at $342,572,000 after purchasing an additional 369,868 shares during the period. Finally, State Street Corp raised its position in Twilio by 0.4% in the first quarter. State Street Corp now owns 3,565,627 shares of the technology company’s stock valued at $587,651,000 after purchasing an additional 12,799 shares during the period. 78.68% of the stock is owned by institutional investors and hedge funds.

Twilio Stock Performance

NYSE TWLO opened at $54.26 on Friday. Twilio Inc. has a 1-year low of $41.00 and a 1-year high of $233.60. The company has a market capitalization of $10.00 billion, a P/E ratio of -7.47 and a beta of 1.35. The business has a 50 day moving average price of $48.99 and a 200 day moving average price of $66.18. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.74 and a quick ratio of 5.74.

Twilio (NYSE:TWLOGet Rating) last announced its earnings results on Thursday, November 3rd. The technology company reported ($1.33) EPS for the quarter, meeting analysts’ consensus estimates of ($1.33). The firm had revenue of $983.03 million for the quarter, compared to analysts’ expectations of $969.17 million. Twilio had a negative return on equity of 8.20% and a negative net margin of 36.17%. Sell-side analysts expect that Twilio Inc. will post -3.83 EPS for the current fiscal year.

Insider Transactions at Twilio

In other news, COO Khozema Shipchandler sold 3,289 shares of the firm’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $55.21, for a total transaction of $181,585.69. Following the sale, the chief operating officer now owns 76,563 shares in the company, valued at $4,227,043.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Khozema Shipchandler sold 3,289 shares of Twilio stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $55.21, for a total value of $181,585.69. Following the transaction, the chief operating officer now owns 76,563 shares in the company, valued at $4,227,043.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dana Wagner sold 1,869 shares of Twilio stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $55.47, for a total value of $103,673.43. Following the completion of the transaction, the insider now owns 76,552 shares in the company, valued at approximately $4,246,339.44. The disclosure for this sale can be found here. Insiders have sold 5,986 shares of company stock worth $328,017 over the last quarter. 4.96% of the stock is currently owned by insiders.

Analyst Ratings Changes

TWLO has been the topic of several research analyst reports. Royal Bank of Canada downgraded Twilio from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $110.00 to $55.00 in a report on Friday, November 4th. Bank of America cut their price objective on Twilio from $85.00 to $70.00 in a report on Friday, November 4th. Mizuho cut their price objective on Twilio from $125.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, November 4th. Barclays cut their price objective on Twilio from $90.00 to $60.00 and set an “equal weight” rating on the stock in a report on Sunday, November 6th. Finally, Cowen downgraded Twilio from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $100.00 to $65.00 in a report on Friday, November 4th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $99.36.

About Twilio

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Twilio Inc, together with its subsidiaries, provides a cloud communications platform that enables developers to build, scale, and operate customer engagement within software applications in the United States and internationally. Its customer engagement platform provides a set of application programming interfaces that handle the higher-level communication logic needed for nearly every type of customer engagement, as well as enable developers to embed voice, messaging, video, and email capabilities into their applications.

Further Reading

Institutional Ownership by Quarter for Twilio (NYSE:TWLO)

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