Twilio Inc. (TWLO) Shares Sold by Wells Fargo & Company MN
Wells Fargo & Company MN reduced its position in Twilio Inc. (NYSE:TWLO) by 60.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 871,556 shares of the technology company’s stock after selling 1,315,631 shares during the period. Wells Fargo & Company MN owned 0.96% of Twilio worth $25,371,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of TWLO. Sumitomo Mitsui Asset Management Company LTD raised its position in Twilio by 487.4% during 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 purchasing an additional 885,206 shares during the period. Bank of New York Mellon Corp raised its position in Twilio by 26.8% during 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 purchasing an additional 815,890 shares during the period. Frontier Capital Management Co. LLC purchased a new stake in Twilio during the second quarter valued at approximately $16,213,000. Pacific Heights Asset Management LLC purchased a new stake in Twilio during the second quarter valued at approximately $7,860,000. Finally, Pier Capital LLC purchased a new stake in Twilio during the second quarter valued at approximately $5,829,000. Institutional investors own 84.25% of the company’s stock.
A number of equities research analysts have issued reports on the company. Drexel Hamilton restated a “buy” rating and set a $47.00 price objective on shares of Twilio in a research report on Friday. Robert W. Baird restated an “outperform” rating and set a $39.00 price objective on shares of Twilio in a research report on Thursday. KeyCorp restated a “hold” rating on shares of Twilio in a research report on Tuesday, September 19th. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $38.00 price objective on shares of Twilio in a research report on Monday, September 18th. Finally, Northland Securities restated a “buy” rating and set a $36.00 price objective on shares of Twilio in a research report on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $37.50.
In related news, Director Richard L. Dalzell sold 2,500 shares of Twilio 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Lee Kirkpatrick sold 16,000 shares of Twilio stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $29.86, for a total transaction of $477,760.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,348 shares of company stock worth $1,873,873.
Twilio Inc. (NYSE TWLO) opened at 30.83 on Friday. The stock’s 50 day moving average price is $30.80 and its 200-day moving average price is $30.80. The company’s market cap is $2.83 billion. Twilio Inc. has a 1-year low of $25.98 and a 1-year high of $70.96.
Twilio (NYSE:TWLO) last released its quarterly earnings results on Monday, August 7th. The technology company reported ($0.20) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.20). The firm had revenue of $95.90 million for the quarter, compared to analyst estimates of $86.28 million. Twilio had a negative net margin of 13.42% and a negative return on equity of 15.40%. The business’s revenue for the quarter was up 48.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.08) EPS. On average, analysts forecast that Twilio Inc. will post ($0.22) earnings per share for the current year.
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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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