Franklin Resources Inc. Boosts Stake in Twilio Inc. (NYSE:TWLO)

Franklin Resources Inc. increased its stake in Twilio Inc. (NYSE:TWLO - Free Report) by 2,412.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 202,010 shares of the technology company's stock after purchasing an additional 193,971 shares during the quarter. Franklin Resources Inc. owned about 0.13% of Twilio worth $14,341,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SouthState Corp grew its holdings in Twilio by 159.1% during the 2nd quarter. SouthState Corp now owns 500 shares of the technology company's stock valued at $28,000 after buying an additional 307 shares in the last quarter. True Wealth Design LLC grew its stake in Twilio by 5,200.0% during the third quarter. True Wealth Design LLC now owns 424 shares of the technology company's stock valued at $28,000 after acquiring an additional 416 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Twilio during the 2nd quarter worth approximately $29,000. Brooklyn Investment Group purchased a new stake in Twilio in the 3rd quarter worth approximately $46,000. Finally, Venturi Wealth Management LLC boosted its holdings in Twilio by 205.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 733 shares of the technology company's stock valued at $48,000 after purchasing an additional 493 shares during the period. 84.27% of the stock is currently owned by institutional investors.

Twilio Stock Performance

Shares of TWLO stock traded up $1.90 during mid-day trading on Friday, reaching $107.93. 9,641,088 shares of the company's stock traded hands, compared to its average volume of 2,724,379. Twilio Inc. has a 12 month low of $52.51 and a 12 month high of $116.43. The firm has a 50 day moving average price of $93.67 and a two-hundred day moving average price of $71.52. The firm has a market capitalization of $16.55 billion, a PE ratio of -42.00, a price-to-earnings-growth ratio of 3.26 and a beta of 1.38. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.06 and a current ratio of 5.06.

Insider Activity at Twilio

In other news, CEO Khozema Shipchandler sold 11,073 shares of the company's stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $65.03, for a total value of $720,077.19. Following the completion of the transaction, the chief executive officer now owns 278,134 shares of the company's stock, valued at $18,087,054.02. This represents a 3.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Dana Wagner sold 4,629 shares of Twilio stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $110.00, for a total value of $509,190.00. Following the sale, the insider now directly owns 125,576 shares in the company, valued at $13,813,360. This trade represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,575 shares of company stock worth $3,863,961. Corporate insiders own 4.50% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. TD Cowen upped their price target on shares of Twilio from $70.00 to $85.00 and gave the stock a "hold" rating in a report on Thursday, October 31st. Jefferies Financial Group raised their price target on Twilio from $60.00 to $85.00 and gave the company a "hold" rating in a report on Thursday, October 31st. Oppenheimer boosted their price objective on Twilio from $85.00 to $90.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. Northland Securities lifted their target price on shares of Twilio from $66.00 to $86.00 and gave the company a "market perform" rating in a research report on Thursday, October 31st. Finally, Sanford C. Bernstein increased their price target on shares of Twilio from $68.00 to $70.00 and gave the stock a "market perform" rating in a report on Tuesday, August 27th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $90.35.

Twilio Company Profile

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.