Connectus Wealth LLC Has $292,000 Holdings in Twilio Inc. (NYSE:TWLO)

Connectus Wealth LLC lessened its stake in Twilio Inc. (NYSE:TWLOGet Rating) by 80.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,110 shares of the technology company’s stock after selling 4,501 shares during the quarter. Connectus Wealth LLC’s holdings in Twilio were worth $292,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TWLO. ARK Investment Management LLC grew its position in Twilio by 23.7% in the first quarter. ARK Investment Management LLC now owns 5,021,261 shares of the technology company’s stock valued at $827,554,000 after acquiring an additional 962,047 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Twilio by 22.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,204,710 shares of the technology company’s stock valued at $692,978,000 after acquiring an additional 770,655 shares during the last quarter. Nikko Asset Management Americas Inc. grew its position in Twilio by 25.8% in the first quarter. Nikko Asset Management Americas Inc. now owns 3,755,024 shares of the technology company’s stock valued at $619,579,000 after acquiring an additional 770,512 shares during the last quarter. State Street Corp grew its position in Twilio by 3.1% in the fourth quarter. State Street Corp now owns 3,552,828 shares of the technology company’s stock valued at $935,602,000 after acquiring an additional 107,321 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its position in Twilio by 4.6% in the fourth quarter. Nuveen Asset Management LLC now owns 2,154,826 shares of the technology company’s stock valued at $567,452,000 after acquiring an additional 93,817 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. BTIG Research reduced their price target on Twilio from $270.00 to $230.00 in a report on Thursday, May 5th. Robert W. Baird cut Twilio from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $155.00 to $120.00 in a report on Monday, May 16th. Jefferies Financial Group reduced their price target on Twilio from $175.00 to $130.00 in a report on Monday, May 23rd. Royal Bank of Canada reduced their price target on Twilio from $400.00 to $200.00 in a report on Tuesday, May 3rd. Finally, Cowen reduced their price target on Twilio from $150.00 to $125.00 in a report on Friday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $177.96.

Twilio Price Performance

Shares of NYSE:TWLO opened at $84.92 on Friday. The company has a quick ratio of 8.10, a current ratio of 8.10 and a debt-to-equity ratio of 0.09. Twilio Inc. has a twelve month low of $77.14 and a twelve month high of $382.75. The stock’s 50 day moving average is $90.94 and its 200-day moving average is $129.29. The firm has a market capitalization of $15.43 billion, a price-to-earnings ratio of -15.64 and a beta of 1.53.

Twilio (NYSE:TWLOGet Rating) last issued its earnings results on Thursday, August 4th. The technology company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.09. Twilio had a negative return on equity of 6.11% and a negative net margin of 30.86%. The company had revenue of $943.35 million for the quarter, compared to analyst estimates of $920.97 million. During the same period in the prior year, the firm earned ($0.94) earnings per share. Twilio’s revenue for the quarter was up 41.0% on a year-over-year basis. Sell-side analysts forecast that Twilio Inc. will post -3.46 EPS for the current fiscal year.

Insider Activity at Twilio

In related news, COO Khozema Shipchandler sold 3,600 shares of the stock in a transaction on Monday, May 16th. The stock was sold at an average price of $105.78, for a total value of $380,808.00. Following the completion of the sale, the chief operating officer now directly owns 96,549 shares of the company’s stock, valued at approximately $10,212,953.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Twilio news, COO Khozema Shipchandler sold 3,600 shares of the company’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $105.78, for a total value of $380,808.00. Following the completion of the transaction, the chief operating officer now owns 96,549 shares in the company, valued at approximately $10,212,953.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dana Wagner sold 2,387 shares of the company’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $105.91, for a total value of $252,807.17. Following the completion of the transaction, the insider now owns 79,665 shares of the company’s stock, valued at approximately $8,437,320.15. The disclosure for this sale can be found here. In the last three months, insiders sold 14,242 shares of company stock valued at $1,374,510. 4.96% of the stock is owned by insiders.

Twilio Profile

(Get Rating)

Twilio Inc, together with its subsidiaries, provides a cloud communications platform that enables developers to build, scale, and operate customer engagement within software applications in the United States and internationally. Its customer engagement platform provides a set of application programming interfaces that handle the higher-level communication logic needed for nearly every type of customer engagement, as well as enable developers to embed voice, messaging, video, and email capabilities into their applications.

Further Reading

Want to see what other hedge funds are holding TWLO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Twilio Inc. (NYSE:TWLOGet Rating).

Institutional Ownership by Quarter for Twilio (NYSE:TWLO)

Receive News & Ratings for Twilio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Twilio and related companies with MarketBeat.com's FREE daily email newsletter.