Pinnacle Wealth Management LLC Makes New Investment in Twilio Inc. $TWLO

Key Points

• Pinnacle Wealth Management LLC has made a new investment in Twilio Inc., acquiring 5,983 shares valued at approximately $586,000 during the first quarter.
• Other institutional investors, such as Bank of Nova Scotia and Horizon Financial Services LLC, significantly increased their holdings in Twilio by over 200% and 9,000%, respectively, demonstrating strong interest in the technology company's stock.
• Analysts have mixed views on Twilio's stock, with most ratings indicating a "Moderate Buy" consensus and a target price of $126.74, although price targets vary widely among different analysts.

Pinnacle Wealth Management LLC bought a new position in shares of Twilio Inc. (NYSE:TWLO - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,983 shares of the technology company's stock, valued at approximately $586,000.

Other institutional investors have also recently made changes to their positions in the company. Concurrent Investment Advisors LLC increased its holdings in shares of Twilio by 211.8% in the first quarter. Concurrent Investment Advisors LLC now owns 5,878 shares of the technology company's stock worth $575,000 after purchasing an additional 3,993 shares during the period. Bank of Nova Scotia increased its holdings in shares of Twilio by 502.1% in the first quarter. Bank of Nova Scotia now owns 32,341 shares of the technology company's stock worth $3,167,000 after purchasing an additional 26,970 shares during the period. ASR Vermogensbeheer N.V. bought a new position in shares of Twilio in the first quarter worth $716,000. Horizon Financial Services LLC increased its holdings in shares of Twilio by 9,692.0% in the first quarter. Horizon Financial Services LLC now owns 2,448 shares of the technology company's stock worth $240,000 after purchasing an additional 2,423 shares during the period. Finally, OneDigital Investment Advisors LLC bought a new position in shares of Twilio in the first quarter worth $294,000. Hedge funds and other institutional investors own 84.27% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. HSBC raised shares of Twilio from a "reduce" rating to a "hold" rating and upped their price target for the stock from $77.00 to $99.00 in a report on Monday, May 5th. Robert W. Baird decreased their price target on shares of Twilio from $160.00 to $130.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Wall Street Zen cut shares of Twilio from a "strong-buy" rating to a "buy" rating in a report on Friday, May 30th. Piper Sandler increased their target price on Twilio from $140.00 to $144.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Finally, Tigress Financial reissued a "buy" rating and issued a $170.00 target price on shares of Twilio in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $126.74.

Twilio Stock Up 4.9%

Shares of TWLO stock opened at $105.78 on Monday. The stock has a market cap of $16.23 billion, a P/E ratio of 881.57, a PEG ratio of 3.37 and a beta of 1.23. Twilio Inc. has a 52 week low of $56.85 and a 52 week high of $151.95. The company has a quick ratio of 4.90, a current ratio of 4.90 and a debt-to-equity ratio of 0.12. The company's fifty day simple moving average is $119.85 and its two-hundred day simple moving average is $112.81.

Twilio (NYSE:TWLO - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The technology company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.02 by $0.17. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.19 billion. Twilio had a net margin of 0.43% and a return on equity of 2.78%. The firm's revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.87 EPS. Analysts predict that Twilio Inc. will post 1.44 EPS for the current fiscal year.

Insider Activity at Twilio

In related news, CEO Khozema Shipchandler sold 13,595 shares of the stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $117.06, for a total transaction of $1,591,430.70. Following the completion of the sale, the chief executive officer owned 246,986 shares of the company's stock, valued at $28,912,181.16. This represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Erika Rottenberg sold 4,100 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $120.03, for a total transaction of $492,123.00. Following the transaction, the director owned 33,488 shares in the company, valued at $4,019,564.64. The trade was a 10.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold 53,964 shares of company stock valued at $6,536,478 over the last 90 days. Insiders own 4.50% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.