Sumitomo Mitsui Trust Holdings Inc. Reduces Stock Position in Twilio Inc. (NYSE:TWLO)

Sumitomo Mitsui Trust Holdings Inc. decreased its position in shares of Twilio Inc. (NYSE:TWLO) by 54.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,778,028 shares of the technology company’s stock after selling 3,268,417 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 1.53% of Twilio worth $169,876,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in Twilio during the fourth quarter worth $179,739,000. Kodai Capital Management LP acquired a new stake in Twilio in the 4th quarter valued at about $82,558,000. Contrarius Investment Management Ltd acquired a new stake in Twilio in the 4th quarter valued at about $80,043,000. Vanguard Group Inc. increased its holdings in Twilio by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 17,567,835 shares of the technology company’s stock valued at $1,028,245,000 after acquiring an additional 445,877 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in Twilio by 6,662.4% during the fourth quarter. International Assets Investment Management LLC now owns 250,750 shares of the technology company’s stock worth $19,024,000 after acquiring an additional 247,042 shares during the last quarter. Institutional investors and hedge funds own 84.27% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TWLO. Macquarie dropped their price objective on shares of Twilio from $69.00 to $63.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Canaccord Genuity Group cut their price target on Twilio from $90.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Piper Sandler upped their price objective on Twilio from $78.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Robert W. Baird dropped their price objective on Twilio from $70.00 to $65.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Finally, Oppenheimer restated an “outperform” rating and issued a $75.00 target price on shares of Twilio in a report on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $69.48.

Twilio Price Performance

TWLO traded up $0.05 during trading on Wednesday, hitting $57.27. 149,868 shares of the company’s stock were exchanged, compared to its average volume of 2,999,802. Twilio Inc. has a 1 year low of $49.86 and a 1 year high of $78.16. The stock has a 50 day moving average price of $58.45 and a 200 day moving average price of $63.47. The company has a debt-to-equity ratio of 0.11, a current ratio of 6.55 and a quick ratio of 6.55.

Twilio (NYSE:TWLO) last announced its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.15. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Twilio had a negative net margin of 17.37% and a negative return on equity of 0.89%. Sell-side analysts expect that Twilio Inc. will post 0.18 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Khozema Shipchandler sold 24,657 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $57.00, for a total value of $1,405,449.00. Following the completion of the transaction, the chief executive officer now directly owns 311,325 shares in the company, valued at $17,745,525. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Khozema Shipchandler sold 24,657 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $57.00, for a total value of $1,405,449.00. Following the completion of the transaction, the chief executive officer now owns 311,325 shares of the company’s stock, valued at $17,745,525. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Aidan Viggiano sold 3,375 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $60.79, for a total value of $205,166.25. Following the sale, the chief financial officer now owns 231,036 shares of the company’s stock, valued at approximately $14,044,678.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,625 shares of company stock valued at $1,770,359. Corporate insiders own 4.50% of the company’s stock.

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.