BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 86,927 Shares of Twilio Inc. (NYSE:TWLO)

Posted by Defense World Staff on Jun 4th, 2023

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its holdings in Twilio Inc. (NYSE:TWLO – Get Rating) by 85.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,160 shares of the technology company’s stock after selling 86,927 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Twilio were worth $742,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of TWLO. Acadian Asset Management LLC raised its position in shares of Twilio by 39.9% in the first quarter. Acadian Asset Management LLC now owns 1,178 shares of the technology company’s stock valued at $192,000 after purchasing an additional 336 shares during the period. MetLife Investment Management LLC purchased a new position in Twilio in the 1st quarter worth approximately $894,000. Panagora Asset Management Inc. grew its stake in Twilio by 29.1% in the 1st quarter. Panagora Asset Management Inc. now owns 2,788 shares of the technology company’s stock worth $459,000 after buying an additional 629 shares in the last quarter. Synovus Financial Corp grew its stake in Twilio by 57.9% in the 1st quarter. Synovus Financial Corp now owns 4,959 shares of the technology company’s stock worth $817,000 after buying an additional 1,818 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Twilio by 22.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 265,429 shares of the technology company’s stock valued at $43,765,000 after purchasing an additional 48,552 shares in the last quarter. Institutional investors own 78.68% of the company’s stock.

Twilio Stock Performance

NYSE:TWLO opened at $67.15 on Friday. Twilio Inc. has a 12 month low of $41.00 and a 12 month high of $110.31. The company’s 50 day moving average is $57.16 and its 200-day moving average is $56.65. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.16 and a quick ratio of 6.16.

Twilio (NYSE:TWLO – Get Rating) last announced its quarterly earnings results on Tuesday, May 9th. The technology company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.21. Twilio had a negative return on equity of 6.91% and a negative net margin of 34.79%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $999.82 million. On average, equities research analysts predict that Twilio Inc. will post -1.53 earnings per share for the current year.

Insider Activity at Twilio

In other Twilio news, insider Dana Wagner sold 3,881 shares of the stock in a transaction on Friday, March 31st. The stock was sold at an average price of $63.78, for a total transaction of $247,530.18. Following the transaction, the insider now owns 158,990 shares in the company, valued at approximately $10,140,382.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Twilio news, CFO Aidan Viggiano sold 1,172 shares of Twilio stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $45.44, for a total value of $53,255.68. Following the completion of the sale, the chief financial officer now directly owns 212,897 shares in the company, valued at $9,674,039.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Dana Wagner sold 3,881 shares of the business’s stock in a transaction that occurred on Friday, March 31st. The shares were sold at an average price of $63.78, for a total value of $247,530.18. Following the sale, the insider now owns 158,990 shares of the company’s stock, valued at approximately $10,140,382.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,256 shares of company stock worth $787,689. Company insiders own 4.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Morgan Stanley decreased their price objective on shares of Twilio from $82.00 to $65.00 in a report on Wednesday, May 10th. Royal Bank of Canada dropped their price target on shares of Twilio from $75.00 to $55.00 in a research report on Wednesday, May 10th. Piper Sandler lowered their target price on shares of Twilio from $83.00 to $56.00 in a report on Wednesday, May 10th. Canaccord Genuity Group raised their price objective on shares of Twilio from $88.00 to $97.00 and gave the stock a “buy” rating in a research note on Thursday, February 16th. Finally, Needham & Company LLC lifted their price target on shares of Twilio from $60.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, February 16th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $79.11.

Twilio Profile

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Twilio, Inc engages in the development of communications software, cloud-based platform, and services. Its products include Twilio flex, messaging, programmable voice, programmable video, elastic SIP trunking, and IoT. The company was founded by John Wolthuis, Jeffery G. Lawson, and Evan Cooke in March 2008 and is headquartered in San Francisco, CA.