Twilio Inc. (NYSE:TWLO) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp reduced its position in Twilio Inc. (NYSE:TWLO) by 15.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 186,798 shares of the technology company’s stock after selling 35,205 shares during the period. King Luther Capital Management Corp’s holdings in Twilio were worth $12,183,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Twilio during the 3rd quarter worth approximately $758,000. Banque Cantonale Vaudoise acquired a new stake in Twilio in the third quarter valued at approximately $280,000. Caprock Group LLC raised its stake in shares of Twilio by 152.2% during the third quarter. Caprock Group LLC now owns 11,038 shares of the technology company’s stock valued at $720,000 after purchasing an additional 6,661 shares during the period. Thrivent Financial for Lutherans acquired a new position in shares of Twilio during the third quarter worth $253,000. Finally, CIBC Asset Management Inc boosted its stake in shares of Twilio by 5.3% in the third quarter. CIBC Asset Management Inc now owns 6,421 shares of the technology company’s stock valued at $419,000 after purchasing an additional 325 shares during the period. 84.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Dana Wagner sold 4,512 shares of Twilio stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $80.00, for a total value of $360,960.00. Following the transaction, the insider now directly owns 142,291 shares in the company, valued at $11,383,280. The trade was a 3.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Khozema Shipchandler sold 11,073 shares of the business’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 sale, the chief executive officer now owns 278,134 shares in the company, valued at approximately $18,087,054.02. The trade was a 3.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,946 shares of company stock valued at $3,354,771 in the last three months. 4.50% of the stock is currently owned by corporate insiders.

Twilio Stock Up 3.6 %

Twilio stock opened at $101.95 on Friday. The company has a 50-day simple moving average of $75.42 and a 200-day simple moving average of $64.51. Twilio Inc. has a one year low of $52.51 and a one year high of $102.49. The firm has a market capitalization of $15.64 billion, a P/E ratio of -39.67, a P/E/G ratio of 2.78 and a beta of 1.32. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.06 and a current ratio of 5.06.

Analyst Ratings Changes

TWLO has been the subject of a number of analyst reports. Needham & Company LLC upped their price objective on shares of Twilio from $71.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Tigress Financial raised their price objective on Twilio from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Piper Sandler upped their target price on Twilio from $83.00 to $94.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. TD Cowen raised their price target on shares of Twilio from $70.00 to $85.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price target on shares of Twilio from $78.00 to $83.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $83.70.

About Twilio

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.