Envestnet Asset Management Inc. Sells 147,024 Shares of Twilio Inc. (NYSE:TWLO)

Envestnet Asset Management Inc. lowered its position in shares of Twilio Inc. (NYSE:TWLO – Get Rating) by 64.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 80,004 shares of the technology company’s stock after selling 147,024 shares during the period. Envestnet Asset Management Inc.’s holdings in Twilio were worth $5,531,000 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. Zullo Investment Group Inc. grew its position in Twilio by 263.6% during the 3rd quarter. Zullo Investment Group Inc. now owns 400 shares of the technology company’s stock worth $28,000 after acquiring an additional 290 shares during the last quarter. Activest Wealth Management grew its position in Twilio by 125.0% during the 3rd quarter. Activest Wealth Management now owns 450 shares of the technology company’s stock worth $31,000 after acquiring an additional 250 shares during the last quarter. Covestor Ltd grew its position in shares of Twilio by 419.5% in the 1st quarter. Covestor Ltd now owns 213 shares of the technology company’s stock valued at $35,000 after buying an additional 172 shares during the last quarter. Sentry Investment Management LLC bought a new stake in shares of Twilio in the 3rd quarter valued at about $36,000. Finally, Heritage Wealth Management LLC bought a new stake in shares of Twilio in the 2nd quarter valued at about $38,000. Institutional investors own 78.68% of the company’s stock.

Twilio Stock Performance

Shares of Twilio stock opened at $71.64 on Friday. The company has a market cap of $13.21 billion, a PE ratio of -10.43 and a beta of 1.45. Twilio Inc. has a 52 week low of $41.00 and a 52 week high of $176.96. The business has a 50 day moving average price of $57.98 and a 200-day moving average price of $61.52. The company has a quick ratio of 5.74, a current ratio of 6.17 and a debt-to-equity ratio of 0.10.

Twilio (NYSE:TWLO – Get Rating) last issued its quarterly earnings data on Wednesday, February 15th. The technology company reported $0.22 EPS for the quarter, topping the consensus estimate of ($0.09) by $0.31. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1 billion. Twilio had a negative return on equity of 7.63% and a negative net margin of 32.83%. The company’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.25) earnings per share. Equities analysts anticipate that Twilio Inc. will post -2.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TWLO has been the topic of a number of analyst reports. Oppenheimer reduced their price target on Twilio from $110.00 to $75.00 in a research report on Tuesday, January 3rd. Cowen upped their price target on Twilio from $65.00 to $75.00 and gave the company a “market perform” rating in a research report on Thursday, February 16th. Robert W. Baird upped their price target on Twilio from $55.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, February 16th. Sanford C. Bernstein upped their price target on Twilio from $58.00 to $77.00 and gave the company a “market perform” rating in a research report on Thursday, February 16th. Finally, Mizuho upped their target price on Twilio from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, February 21st. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $86.96.

Insider Transactions at Twilio

In related news, Director Donna Dubinsky acquired 3,995 shares of the stock in a transaction dated Friday, February 24th. The stock was purchased at an average cost of $62.72 per share, with a total value of $250,566.40. Following the completion of the purchase, the director now directly owns 13,232 shares in the company, valued at approximately $829,911.04. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other Twilio news, Director Donna Dubinsky purchased 3,995 shares of the firm’s stock in a transaction that occurred on Friday, February 24th. The stock was bought at an average cost of $62.72 per share, with a total value of $250,566.40. Following the completion of the transaction, the director now owns 13,232 shares of the company’s stock, valued at approximately $829,911.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dana Wagner sold 8,461 shares of the stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $64.24, for a total value of $543,534.64. Following the sale, the insider now directly owns 162,871 shares of the company’s stock, valued at $10,462,833.04. The disclosure for this sale can be found here. Insiders sold a total of 29,563 shares of company stock valued at $1,888,289 over the last ninety days. 4.96% of the stock is currently owned by insiders.

Twilio Profile

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Twilio, Inc engages in the development of communications software, cloud-based platform, and services. Its products include Twilio flex, messaging, programmable voice, programmable video, elastic SIP trunking, and IoT. The company was founded by John Wolthuis, Jeffery G. Lawson, and Evan Cooke in March 2008 and is headquartered in San Francisco, CA.