BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 6,011 Shares of Twilio Inc. (NYSE:TWLO)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in Twilio Inc. (NYSE:TWLO - Free Report) by 18.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,133 shares of the technology company's stock after selling 6,011 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Twilio were worth $1,770,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TWLO. SouthState Corp grew its position in shares of Twilio by 159.1% in the second quarter. SouthState Corp now owns 500 shares of the technology company's stock valued at $28,000 after purchasing an additional 307 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Twilio during the second quarter worth about $29,000. GAMMA Investing LLC raised its holdings in Twilio by 70.6% in the second quarter. GAMMA Investing LLC now owns 638 shares of the technology company's stock valued at $36,000 after acquiring an additional 264 shares in the last quarter. Brooklyn Investment Group purchased a new position in Twilio in the third quarter worth approximately $46,000. Finally, Venturi Wealth Management LLC grew its holdings in Twilio by 205.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 733 shares of the technology company's stock worth $48,000 after acquiring an additional 493 shares in the last quarter. 84.27% of the stock is owned by hedge funds and other institutional investors.

Twilio Trading Up 2.1 %

NYSE TWLO traded up $2.35 during mid-day trading on Friday, hitting $112.68. The company's stock had a trading volume of 1,468,473 shares, compared to its average volume of 2,689,597. Twilio Inc. has a 52-week low of $52.51 and a 52-week high of $112.75. The stock's fifty day simple moving average is $84.19 and its two-hundred day simple moving average is $67.58. The firm has a market capitalization of $17.28 billion, a P/E ratio of -42.93, a price-to-earnings-growth ratio of 3.10 and a beta of 1.38. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.06 and a quick ratio of 5.06.

Insider Activity at Twilio

In related news, CEO Khozema Shipchandler sold 11,073 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $65.03, for a total transaction of $720,077.19. Following the sale, the chief executive officer now owns 278,134 shares in the company, 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 Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dana Wagner sold 4,174 shares of the business's stock in a transaction on Monday, September 30th. The shares were sold at an average price of $65.02, for a total transaction of $271,393.48. Following the transaction, the insider now directly owns 152,563 shares of the company's stock, valued at approximately $9,919,646.26. This trade represents a 2.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 49,946 shares of company stock valued at $3,354,771. Corporate insiders own 4.50% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on TWLO. UBS Group boosted their target price on shares of Twilio from $74.00 to $88.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. increased their price target on shares of Twilio from $78.00 to $83.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Northland Securities boosted their price objective on shares of Twilio from $66.00 to $86.00 and gave the stock a "market perform" rating in a research report on Thursday, October 31st. Robert W. Baird increased their target price on shares of Twilio from $65.00 to $80.00 and gave the company a "neutral" rating in a research report on Friday, November 1st. Finally, Barclays upped their price objective on shares of Twilio from $65.00 to $80.00 and gave the company an "equal weight" rating in a research note on Friday, November 1st. 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. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $85.87.

Twilio 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.