Shares of Twilio Inc. (NYSE:TWLO – Get Free Report) dropped 8.2% during mid-day trading on Wednesday after Macquarie lowered their price target on the stock from $69.00 to $63.00. Macquarie currently has a neutral rating on the stock. Twilio traded as low as $58.07 and last traded at $58.16. Approximately 5,209,947 shares changed hands during mid-day trading, an increase of 64% from the average daily volume of 3,184,619 shares. The stock had previously closed at $63.37.
TWLO has been the subject of several other reports. Barclays raised their target price on shares of Twilio from $60.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. Jefferies Financial Group cut their price objective on Twilio from $65.00 to $60.00 and set a “hold” rating for the company in a research report on Wednesday, March 6th. Northland Securities downgraded Twilio from an “outperform” rating to a “market perform” rating and set a $66.00 target price on the stock. in a research report on Thursday, February 15th. UBS Group cut their price target on Twilio from $82.00 to $74.00 and set a “buy” rating for the company in a report on Wednesday, March 6th. Finally, Canaccord Genuity Group reduced their price objective on Twilio from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Twilio has a consensus rating of “Hold” and a consensus price target of $68.59.
Insider Buying and Selling at Twilio
In other Twilio news, insider Dana Wagner sold 1,666 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $62.92, for a total transaction of $104,824.72. Following the completion of the sale, the insider now owns 130,456 shares in the company, valued at $8,208,291.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Twilio news, insider Dana Wagner sold 1,666 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $62.92, for a total value of $104,824.72. Following the completion of the sale, the insider now directly owns 130,456 shares in the company, valued at $8,208,291.52. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Aidan Viggiano sold 1,200 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $55.71, for a total value of $66,852.00. Following the transaction, the chief financial officer now directly owns 241,044 shares in the company, valued at $13,428,561.24. The disclosure for this sale can be found here. Insiders sold a total of 30,958 shares of company stock valued at $1,910,447 in the last ninety days. Corporate insiders own 4.20% of the company’s stock.
Institutional Investors Weigh In On Twilio
A number of large investors have recently bought and sold shares of the company. Synovus Financial Corp lifted its position in Twilio by 6.9% during the third quarter. Synovus Financial Corp now owns 4,764 shares of the technology company’s stock valued at $279,000 after purchasing an additional 306 shares during the period. Pearl River Capital LLC raised its stake in shares of Twilio by 363.2% during the 3rd quarter. Pearl River Capital LLC now owns 30,641 shares of the technology company’s stock valued at $1,793,000 after buying an additional 24,026 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Twilio by 10.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,185,244 shares of the technology company’s stock valued at $69,372,000 after buying an additional 113,042 shares during the period. Hodges Capital Management Inc. purchased a new stake in shares of Twilio in the third quarter worth about $4,738,000. Finally, New York Life Investment Management LLC grew its holdings in Twilio by 70.9% during the third quarter. New York Life Investment Management LLC now owns 22,119 shares of the technology company’s stock worth $1,295,000 after acquiring an additional 9,180 shares during the period. Hedge funds and other institutional investors own 84.27% of the company’s stock.
Twilio Stock Performance
The company has a quick ratio of 6.64, a current ratio of 6.64 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average of $60.72 and a two-hundred day moving average of $64.38. The company has a market capitalization of $10.67 billion, a PE ratio of -10.58 and a beta of 1.33.
Twilio (NYSE:TWLO – Get Free Report) last posted its earnings results on Wednesday, February 14th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.17. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.04 billion. Twilio had a negative net margin of 24.44% and a negative return on equity of 1.66%. Research analysts anticipate that Twilio Inc. will post -0.11 EPS for the current year.
About Twilio
Twilio Inc, together with its subsidiaries, provides customer engagement platform solutions in the United States and internationally. It operates through two segments, Twilio Communications and Twilio Segment. The company provides various application programming interfaces and software solutions for communications between customers and end users, including messaging, voice, email, flex, marketing campaigns, and user identity and authentication.