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

King Luther Capital Management Corp trimmed its holdings in shares of Twilio Inc. (NYSE:TWLO - Free Report) by 19.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 190,218 shares of the technology company's stock after selling 46,172 shares during the quarter. King Luther Capital Management Corp owned 0.11% of Twilio worth $14,432,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Twilio in the 4th quarter worth approximately $179,739,000. Robertson Stephens Wealth Management LLC lifted its position in shares of Twilio by 102.2% in the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 13,796 shares of the technology company's stock worth $807,000 after purchasing an additional 650,000 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Twilio by 73.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,212,453 shares of the technology company's stock valued at $70,965,000 after acquiring an additional 515,068 shares during the period. Vanguard Group Inc. lifted its position in shares of Twilio by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 17,567,835 shares of the technology company's stock valued at $1,028,245,000 after acquiring an additional 445,877 shares during the period. Finally, Glenmede Trust Co. NA acquired a new position in shares of Twilio during the 3rd quarter valued at $20,797,000. 84.27% of the stock is owned by institutional investors.

Insider Transactions at Twilio

In related news, CFO Aidan Viggiano sold 6,633 shares of the firm's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $62.12, for a total value of $412,041.96. Following the sale, the chief financial officer now directly owns 234,411 shares of the company's stock, valued at $14,561,611.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Aidan Viggiano sold 6,633 shares of the firm's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $62.12, for a total value of $412,041.96. Following the sale, the chief financial officer now directly owns 234,411 shares of the company's stock, valued at $14,561,611.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Khozema Shipchandler sold 10,961 shares of the firm's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $62.13, for a total transaction of $681,006.93. Following the completion of the sale, the chief executive officer now directly owns 335,982 shares in the company, valued at $20,874,561.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,692 shares of company stock valued at $1,714,597. 4.50% of the stock is currently owned by corporate insiders.

Twilio Price Performance

Shares of Twilio stock traded down $0.25 on Wednesday, reaching $60.20. The stock had a trading volume of 1,792,236 shares, compared to its average volume of 3,161,482. Twilio Inc. has a 1 year low of $49.86 and a 1 year high of $78.16. The company has a market cap of $10.30 billion, a P/E ratio of -15.07, a price-to-earnings-growth ratio of 10.28 and a beta of 1.33. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.11. The business's 50 day moving average is $60.85 and its two-hundred day moving average is $65.03.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on TWLO shares. Sanford C. Bernstein dropped their target price on shares of Twilio from $70.00 to $68.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 8th. Northland Securities lowered shares of Twilio from an "outperform" rating to a "market perform" rating and set a $66.00 price target for the company. in a research note on Thursday, February 15th. TD Cowen decreased their price target on shares of Twilio from $72.00 to $65.00 and set a "market perform" rating for the company in a research note on Wednesday, March 6th. Canaccord Genuity Group decreased their price target on shares of Twilio from $90.00 to $85.00 and set a "buy" rating for the company in a research note on Wednesday, May 8th. Finally, Royal Bank of Canada restated an "underperform" rating and set a $50.00 price target on shares of Twilio in a research note on Wednesday, March 6th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Twilio currently has a consensus rating of "Hold" and an average price target of $69.95.

Twilio Company 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.