King Luther Capital Management Corp Reduces Stock Position in Twilio Inc. (NYSE:TWLO)

King Luther Capital Management Corp decreased its position in Twilio Inc. (NYSE:TWLO) by 15.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 186,798 shares of the technology company’s stock after selling 35,205 shares during the quarter. King Luther Capital Management Corp owned approximately 0.12% of Twilio worth $12,183,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of TWLO. Covestor Ltd lifted its holdings in Twilio by 16.7% in the third quarter. Covestor Ltd now owns 1,033 shares of the technology company’s stock worth $67,000 after buying an additional 148 shares during the period. Tidal Investments LLC boosted its position in shares of Twilio by 2.3% during the first quarter. Tidal Investments LLC now owns 7,295 shares of the technology company’s stock valued at $446,000 after purchasing an additional 166 shares in the last quarter. Metis Global Partners LLC grew its stake in Twilio by 2.5% in the third quarter. Metis Global Partners LLC now owns 7,324 shares of the technology company’s stock worth $478,000 after purchasing an additional 182 shares during the period. Arizona State Retirement System raised its holdings in Twilio by 0.4% in the second quarter. Arizona State Retirement System now owns 47,511 shares of the technology company’s stock worth $2,699,000 after purchasing an additional 205 shares in the last quarter. Finally, US Bancorp DE lifted its position in Twilio by 4.7% during the third quarter. US Bancorp DE now owns 4,787 shares of the technology company’s stock valued at $312,000 after buying an additional 217 shares during the period. 84.27% of the stock is owned by institutional investors.

Twilio Stock Performance

Shares of TWLO stock opened at $101.95 on Friday. The stock’s 50-day moving average price is $75.42 and its 200 day moving average price is $64.51. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $15.64 billion, a PE ratio of -39.67, a price-to-earnings-growth ratio of 2.78 and a beta of 1.32. Twilio Inc. has a 52-week low of $52.51 and a 52-week high of $102.49.

Insider Activity

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 completion of the transaction, the chief executive officer now directly 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 document filed with the SEC, which is available at this link. Also, insider Dana Wagner sold 4,512 shares of Twilio stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $80.00, for a total value of $360,960.00. Following the completion of the sale, the insider now directly owns 142,291 shares in the company, valued at $11,383,280. This represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,946 shares of company stock valued at $3,354,771. Company insiders own 4.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Northland Securities raised their price objective on shares of Twilio from $66.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Mizuho raised their price target on shares of Twilio from $60.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. TD Cowen upped their price objective on Twilio from $70.00 to $85.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Robert W. Baird lifted their target price on Twilio from $65.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, JMP Securities restated a “market outperform” rating and issued a $110.00 price target on shares of Twilio in a research note on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Twilio has an average rating of “Hold” and a consensus price target of $83.70.

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.