PNC Financial Services Group Inc. reduced its stake in Twilio Inc. (NYSE:TWLO – Free Report) by 12.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,112 shares of the technology company’s stock after selling 2,185 shares during the period. PNC Financial Services Group Inc.’s holdings in Twilio were worth $885,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the business. RVW Wealth LLC bought a new stake in Twilio during the third quarter worth about $30,000. Optimum Investment Advisors lifted its holdings in shares of Twilio by 68.3% in the third quarter. Optimum Investment Advisors now owns 505 shares of the technology company’s stock worth $30,000 after acquiring an additional 205 shares during the last quarter. Covestor Ltd raised its holdings in Twilio by 419.5% in the 1st quarter. Covestor Ltd now owns 213 shares of the technology company’s stock valued at $35,000 after buying an additional 172 shares during the last quarter. Quarry LP raised its holdings in Twilio by 328.2% in the 2nd quarter. Quarry LP now owns 561 shares of the technology company’s stock valued at $36,000 after buying an additional 430 shares during the last quarter. Finally, Lazard Asset Management LLC raised its holdings in Twilio by 133.3% in the 4th quarter. Lazard Asset Management LLC now owns 1,169 shares of the technology company’s stock valued at $57,000 after buying an additional 668 shares during the last quarter. 80.87% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts recently issued reports on TWLO shares. Royal Bank of Canada reiterated an “underperform” rating and issued a $50.00 price objective on shares of Twilio in a report on Thursday, February 15th. William Blair reiterated an “outperform” rating on shares of Twilio in a report on Thursday, November 9th. The Goldman Sachs Group raised their price objective on shares of Twilio from $63.00 to $72.00 and gave the company a “neutral” rating in a report on Tuesday, January 9th. HSBC lowered shares of Twilio from a “hold” rating to a “reduce” rating and dropped their price objective for the company from $62.00 to $61.00 in a report on Wednesday, February 14th. Finally, Northland Securities downgraded shares of Twilio from an “outperform” rating to a “market perform” rating and set a $66.00 target price for the company. in a research report on Thursday, February 15th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $68.89.
Read Our Latest Analysis on TWLO
Insider Transactions at Twilio
In related news, insider Dana Wagner sold 458 shares of Twilio stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $55.71, for a total value of $25,515.18. Following the completion of the sale, the insider now owns 171,744 shares of the company’s stock, valued at approximately $9,567,858.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Twilio news, major shareholder Twilio Inc sold 5,000,000 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $0.57, for a total transaction of $2,850,000.00. Following the transaction, the insider now directly owns 5,000,000 shares in the company, valued at approximately $2,850,000. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Dana Wagner sold 458 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $55.71, for a total value of $25,515.18. Following the transaction, the insider now owns 171,744 shares in the company, valued at $9,567,858.24. The disclosure for this sale can be found here. Insiders sold a total of 5,025,898 shares of company stock valued at $4,646,874 in the last quarter. 4.20% of the stock is currently owned by company insiders.
Twilio Stock Performance
Shares of TWLO stock opened at $58.01 on Monday. The company has a market cap of $10.50 billion, a price-to-earnings ratio of -10.47 and a beta of 1.41. Twilio Inc. has a 52 week low of $45.02 and a 52 week high of $78.16. The company has a quick ratio of 6.53, a current ratio of 6.53 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average of $70.74 and a 200-day moving average of $64.20.
Twilio Profile
Twilio Inc, together with its subsidiaries, provides software and communications solutions in the United States and internationally. The company operates cloud communications platform that enables developers to build, scale, and operate customer engagement within software applications. Its customer engagement platform provides a set of application programming interfaces that enable developers to embed voice, messaging, and email interactions into their customer-facing applications.
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Source: americanbankingnews.com
