DNB Asset Management AS Increases Stake in Twilio Inc. (NYSE:TWLO)

DNB Asset Management AS grew its position in Twilio Inc. (NYSE:TWLO) by 19.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 29,607 shares of the technology company’s stock after purchasing an additional 4,758 shares during the period. DNB Asset Management AS’s holdings in Twilio were worth $1,682,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TWLO. Fifth Third Bancorp bought a new position in Twilio during the 4th quarter worth about $49,000. Arizona State Retirement System grew its holdings in Twilio by 0.8% during the 4th quarter. Arizona State Retirement System now owns 47,290 shares of the technology company’s stock worth $3,588,000 after acquiring an additional 378 shares in the last quarter. Chevy Chase Trust Holdings LLC bought a new position in Twilio during the 4th quarter worth about $206,000. International Assets Investment Management LLC grew its holdings in Twilio by 6,662.4% during the 4th 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 in the last quarter. Finally, Allworth Financial LP grew its holdings in Twilio by 266.4% during the 4th quarter. Allworth Financial LP now owns 1,744 shares of the technology company’s stock worth $132,000 after acquiring an additional 1,268 shares in the last quarter. Hedge funds and other institutional investors own 84.27% of the company’s stock.

Twilio Price Performance

Twilio stock opened at $60.59 on Wednesday. The company’s fifty day moving average price is $57.09 and its 200 day moving average price is $60.59. Twilio Inc. has a 1 year low of $49.86 and a 1 year high of $78.16. The stock has a market capitalization of $10.37 billion, a P/E ratio of -14.68, a P/E/G ratio of 8.78 and a beta of 1.35. The company has a debt-to-equity ratio of 0.11, a quick ratio of 6.55 and a current ratio of 6.55.

Twilio (NYSE:TWLO) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.17. Twilio had a negative net margin of 14.02% and a negative return on equity of 0.21%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter last year, the company earned ($0.23) EPS. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Twilio Inc. will post 0.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Twilio news, insider Dana Wagner sold 796 shares of Twilio stock in a transaction on Monday, May 20th. The shares were sold at an average price of $61.69, for a total transaction of $49,105.24. Following the sale, the insider now owns 164,374 shares of the company’s stock, valued at approximately $10,140,232.06. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Twilio news, insider Dana Wagner sold 796 shares of Twilio stock in a transaction on Monday, May 20th. The shares were sold at an average price of $61.69, for a total transaction of $49,105.24. Following the sale, the insider now owns 164,374 shares of the company’s stock, valued at approximately $10,140,232.06. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Aidan Viggiano sold 956 shares of Twilio stock in a transaction on Monday, May 20th. The stock was sold at an average price of $61.69, for a total transaction of $58,975.64. Following the sale, the chief financial officer now directly owns 228,506 shares in the company, valued at approximately $14,096,535.14. The disclosure for this sale can be found here. Insiders have sold a total of 66,967 shares of company stock valued at $3,796,221 in the last 90 days. 4.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Robert W. Baird dropped their target price on shares of Twilio from $70.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Piper Sandler restated an “overweight” rating and issued a $83.00 price target (up from $77.00) on shares of Twilio in a report on Friday, August 2nd. Macquarie lowered their price target on shares of Twilio from $69.00 to $63.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Sanford C. Bernstein lowered their price target on shares of Twilio from $70.00 to $68.00 and set a “market perform” rating on the stock in a report on Wednesday, May 8th. Finally, Oppenheimer restated an “outperform” rating and issued a $75.00 price target on shares of Twilio in a report on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $70.05.

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.