Twilio Inc (NYSE:TWLO) shares gapped up before the market opened on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $40.00 to $42.00. The stock had previously closed at $23.79, but opened at $26.44. JPMorgan Chase & Co. currently has an overweight rating on the stock. Twilio shares last traded at $30.72, with a volume of 13294794 shares.

Several other research analysts also recently issued reports on TWLO. Zacks Investment Research upgraded shares of Twilio from a “sell” rating to a “hold” rating in a report on Saturday. KeyCorp reiterated a “hold” rating on shares of Twilio in a report on Tuesday, December 5th. Drexel Hamilton reiterated a “buy” rating and set a $47.00 price target on shares of Twilio in a report on Monday, December 4th. BidaskClub downgraded shares of Twilio from a “buy” rating to a “hold” rating in a report on Saturday, November 4th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $38.00 price target on shares of Twilio in a report on Wednesday, December 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $36.75.

In other Twilio news, General Counsel Karyn Smith sold 5,213 shares of the stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $25.50, for a total transaction of $132,931.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Lee Kirkpatrick sold 10,830 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $25.28, for a total value of $273,782.40. The disclosure for this sale can be found here. Insiders sold 33,222 shares of company stock valued at $850,128 over the last 90 days. 25.03% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of the business. Deutsche Bank AG grew its holdings in Twilio by 216.0% during the 4th quarter. Deutsche Bank AG now owns 212,987 shares of the technology company’s stock worth $5,024,000 after acquiring an additional 145,584 shares during the period. potrero capital research llc grew its holdings in Twilio by 937.7% during the 4th quarter. potrero capital research llc now owns 103,773 shares of the technology company’s stock worth $2,449,000 after acquiring an additional 93,773 shares during the period. Franklin Resources Inc. grew its holdings in Twilio by 27.2% during the 4th quarter. Franklin Resources Inc. now owns 1,650,883 shares of the technology company’s stock worth $38,961,000 after acquiring an additional 352,970 shares during the period. Advisor Group Inc. grew its holdings in Twilio by 90.4% during the 4th quarter. Advisor Group Inc. now owns 22,512 shares of the technology company’s stock worth $531,000 after acquiring an additional 10,689 shares during the period. Finally, Raging Capital Management LLC acquired a new stake in Twilio during the 4th quarter worth about $22,420,000. Hedge funds and other institutional investors own 59.99% of the company’s stock.

The stock has a market capitalization of $2,399.22, a price-to-earnings ratio of -48.00 and a beta of 2.62.

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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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