Retirement Systems of Alabama Sells 29,524 Shares of Twilio Inc. $TWLO

Key Points

• Retirement Systems of Alabama cut its Twilio stake by 12%, selling 29,524 shares in the third quarter; it still held 217,151 shares valued at about $63.5 million. Institutional investors and hedge funds own 84.27% of the company.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $269.48. Recent firms adjusted targets lower, while maintaining mostly buy or overweight ratings.
• Twilio beat quarterly estimates, reporting EPS of $1.65 versus $1.47 expected and revenue of $1.56 billion, up 19.9% year over year. Company insiders sold 538,818 shares worth about $134.8 million over the last quarter.

Retirement Systems of Alabama lowered its position in Twilio Inc. (NYSE:TWLO - Free Report) by 12.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 217,151 shares of the technology company's stock after selling 29,524 shares during the period. Retirement Systems of Alabama owned approximately 0.14% of Twilio worth $63,508,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Congress Asset Management Co. raised its stake in Twilio by 16.2% in the 3rd quarter. Congress Asset Management Co. now owns 160,425 shares of the technology company's stock valued at $46,918,000 after purchasing an additional 22,311 shares during the last quarter. Plato Investment Management Ltd purchased a new stake in shares of Twilio during the second quarter worth about $1,637,000. Assenagon Asset Management S.A. grew its holdings in shares of Twilio by 67.8% during the second quarter. Assenagon Asset Management S.A. now owns 120,582 shares of the technology company's stock worth $24,880,000 after buying an additional 48,742 shares in the last quarter. Nykredit A S purchased a new stake in shares of Twilio during the second quarter worth about $10,514,000. Finally, Aware Super Pty Ltd as trustee of Aware Super acquired a new position in shares of Twilio in the first quarter valued at approximately $4,288,000. Institutional investors and hedge funds own 84.27% of the company's stock.

Wall Street Analyst Weigh In

TWLO has been the subject of several recent analyst reports. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $330.00 target price on shares of Twilio in a research note on Friday, August 7th. Zacks Research raised Twilio from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 16th. JPMorgan Chase & Co. decreased their price objective on Twilio from $335.00 to $300.00 and set an "overweight" rating on the stock in a report on Friday, October 30th. UBS Group lowered their price objective on Twilio from $285.00 to $255.00 and set a "buy" rating for the company in a research report on Friday, October 30th. Finally, Needham & Company LLC dropped their target price on Twilio from $280.00 to $240.00 and set a "buy" rating for the company in a research note on Friday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $269.48.

Insider Buying and Selling at Twilio

In other news, Director Andrew Stafman sold 500,000 shares of Twilio stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $247.08, for a total value of $123,540,000.00. Following the completion of the transaction, the director owned 120,000 shares in the company, valued at approximately $29,649,600. This trade represents a 80.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Khozema Shipchandler sold 14,442 shares of the business's stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $291.03, for a total value of $4,203,055.26. Following the completion of the sale, the chief executive officer owned 178,863 shares of the company's stock, valued at $52,054,498.89. This trade represents a 7.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 538,818 shares of company stock worth $134,833,645 over the last quarter. 0.21% of the stock is owned by corporate insiders.

Twilio Trading Up 2.5%

Shares of TWLO opened at $206.99 on Tuesday. Twilio Inc. has a twelve month low of $105.00 and a twelve month high of $308.40. The firm has a market capitalization of $31.79 billion, a P/E ratio of 73.12, a price-to-earnings-growth ratio of 4.16 and a beta of 1.49. The company has a current ratio of 4.47, a quick ratio of 4.62 and a debt-to-equity ratio of 0.11. The stock's fifty day simple moving average is $253.87 and its 200 day simple moving average is $190.71.

Twilio (NYSE:TWLO - Get Free Report) last posted its earnings results on Thursday, October 29th. The technology company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.18. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.52 billion. Twilio had a net margin of 21.82% and a return on equity of 5.58%. The business's quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.25 EPS. On average, equities research analysts forecast that Twilio Inc. will post 3.27 earnings per share for the current year.

Twilio Profile

Twilio provides cloud-based communications software that enables businesses to communicate with customers through applications and digital channels. Its platform offers APIs and related tools for integrating messaging, voice, video and email capabilities into software and customer workflows.

Its offerings include programmable communications products, the Twilio Flex contact center platform, SendGrid email services, and Segment, a customer data platform. Twilio also provides tools for customer identity verification and engagement, helping organizations manage communications and customer data across their operations.

Founded in 2008, Twilio serves businesses and developers in markets around the world.

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