Sumitomo Mitsui Trust Holdings Inc. Sells 2,405,504 Shares of Twilio Inc. (NYSE:TWLO)

Sumitomo Mitsui Trust Holdings Inc. reduced its holdings in shares of Twilio Inc. (NYSE:TWLO - Free Report) by 86.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 372,524 shares of the technology company's stock after selling 2,405,504 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.22% of Twilio worth $21,163,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Tidal Investments LLC raised its position in shares of Twilio by 2.3% during the 1st quarter. Tidal Investments LLC now owns 7,295 shares of the technology company's stock valued at $446,000 after acquiring an additional 166 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Twilio by 14.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,339 shares of the technology company's stock valued at $102,000 after buying an additional 167 shares in the last quarter. Brighton Jones LLC boosted its stake in Twilio by 1.8% during the fourth quarter. Brighton Jones LLC now owns 10,209 shares of the technology company's stock valued at $775,000 after buying an additional 185 shares in the last quarter. Fifth Third Bancorp boosted its stake in Twilio by 29.0% during the first quarter. Fifth Third Bancorp now owns 841 shares of the technology company's stock valued at $51,000 after buying an additional 189 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its stake in Twilio by 3.6% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,806 shares of the technology company's stock valued at $355,000 after buying an additional 201 shares in the last quarter. 84.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on TWLO shares. Macquarie decreased their target price on Twilio from $69.00 to $63.00 and set a "neutral" rating for the company in a research note on Wednesday, May 8th. Morgan Stanley cut Twilio from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $70.00 to $60.00 in a research note on Friday, June 14th. Needham & Company LLC reiterated a "buy" rating and issued a $71.00 price target on shares of Twilio in a research report on Monday, May 20th. StockNews.com upgraded Twilio from a "hold" rating to a "buy" rating in a research report on Sunday, July 28th. Finally, Barclays decreased their target price on shares of Twilio from $70.00 to $65.00 and set an "equal weight" rating for the company in a research note on Monday, August 5th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $69.95.

Insiders Place Their Bets

In other Twilio news, insider Dana Wagner sold 820 shares of the business's stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $56.26, for a total transaction of $46,133.20. Following the sale, the insider now owns 159,317 shares of the company's stock, valued at approximately $8,963,174.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Dana Wagner sold 820 shares of the firm's stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $56.26, for a total transaction of $46,133.20. Following the transaction, the insider now directly owns 159,317 shares in the company, valued at $8,963,174.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Khozema Shipchandler sold 24,657 shares of the firm's stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $57.00, for a total transaction of $1,405,449.00. Following the transaction, the chief executive officer now owns 311,325 shares in the company, valued at $17,745,525. The disclosure for this sale can be found here. Insiders have sold a total of 69,165 shares of company stock worth $3,927,865 in the last three months. Corporate insiders own 4.50% of the company's stock.

Twilio Stock Down 2.2 %

Twilio stock traded down $1.33 during trading hours on Wednesday, hitting $59.26. The stock had a trading volume of 2,158,124 shares, compared to its average volume of 2,851,506. The company has a quick ratio of 5.57, a current ratio of 5.57 and a debt-to-equity ratio of 0.11. The stock's 50-day moving average price is $57.73 and its 200-day moving average price is $59.75. Twilio Inc. has a 12-month low of $49.86 and a 12-month high of $78.16. The stock has a market capitalization of $10.14 billion, a P/E ratio of -14.78, a price-to-earnings-growth ratio of 4.18 and a beta of 1.35.

Twilio (NYSE:TWLO - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $0.87 earnings per share for the quarter, topping 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 0.22%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the business posted ($0.23) earnings per share. The company's revenue was up 4.4% on a year-over-year basis. Equities research analysts anticipate that Twilio Inc. will post 0.45 EPS for the current fiscal year.

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.