Fortaleza Asset Management Inc. Lowers Position in Twilio Inc. (TWLO)
Fortaleza Asset Management Inc. decreased its stake in shares of Twilio Inc. (NYSE:TWLO) by 6.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,195 shares of the technology company’s stock after selling 335 shares during the period. Fortaleza Asset Management Inc.’s holdings in Twilio were worth $151,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Sumitomo Mitsui Asset Management Company LTD raised its position in Twilio by 487.4% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,066,806 shares of the technology company’s stock valued at $31,054,000 after buying an additional 885,206 shares during the period. Bank of New York Mellon Corp raised its position in Twilio by 26.8% in the second quarter. Bank of New York Mellon Corp now owns 3,854,787 shares of the technology company’s stock valued at $112,213,000 after buying an additional 815,890 shares during the period. Frontier Capital Management Co. LLC acquired a new position in Twilio during the second quarter valued at $16,213,000. Pacific Heights Asset Management LLC acquired a new position in Twilio during the second quarter valued at $7,860,000. Finally, Schwab Charles Investment Management Inc. raised its position in Twilio by 207.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 171,317 shares of the technology company’s stock valued at $4,988,000 after buying an additional 115,635 shares during the period. Institutional investors own 77.32% of the company’s stock.
Shares of Twilio Inc. (NYSE:TWLO) opened at 29.91 on Monday. Twilio Inc. has a 1-year low of $22.80 and a 1-year high of $70.96. The stock’s market capitalization is $2.75 billion. The firm’s 50-day moving average is $30.16 and its 200-day moving average is $29.19.
Twilio (NYSE:TWLO) last announced its quarterly earnings data on Monday, August 7th. The technology company reported ($0.20) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.20). Twilio had a negative return on equity of 15.40% and a negative net margin of 13.42%. The firm had revenue of $95.90 million during the quarter, compared to analysts’ expectations of $86.28 million. During the same quarter last year, the firm posted ($0.08) earnings per share. The company’s revenue for the quarter was up 48.7% compared to the same quarter last year. On average, analysts predict that Twilio Inc. will post ($0.23) earnings per share for the current fiscal year.
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TWLO has been the subject of several research reports. Vetr upgraded shares of Twilio from a “buy” rating to a “strong-buy” rating and set a $32.00 price objective for the company in a research report on Thursday, July 6th. Zacks Investment Research upgraded shares of Twilio from a “sell” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Friday, April 28th. Drexel Hamilton restated a “buy” rating and set a $44.00 price objective on shares of Twilio in a research report on Thursday, May 25th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $38.00 price objective on shares of Twilio in a research report on Tuesday, May 2nd. Finally, William Blair restated an “outperform” rating on shares of Twilio in a research report on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $37.25.
In other Twilio news, General Counsel Karyn Smith sold 5,381 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $31.40, for a total value of $168,963.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard L. Dalzell sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 13th. The shares were sold at an average price of $30.01, for a total value of $75,025.00. The disclosure for this sale can be found here. Insiders sold 53,157 shares of company stock valued at $1,558,012 in the last three months.
Twilio Company Profile
Twilio Inc offers Cloud Communications Platform, which enables developers to build, scale and operate real-time communications within software applications. The Company’s platform consists of Programmable Communications Cloud, Super Network and Business Model for Innovators. Its Programmable Communications Cloud software enables developers to embed voice, messaging, video and authentication capabilities into their applications through its Application Programming Interfaces (APIs).
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