Riverbridge Partners LLC Has $9.35 Million Position in Twilio Inc. (NYSE:TWLO)

Riverbridge Partners LLC reduced its stake in shares of Twilio Inc. (NYSE:TWLOGet Rating) by 1.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 111,512 shares of the technology company’s stock after selling 1,282 shares during the quarter. Riverbridge Partners LLC’s holdings in Twilio were worth $9,346,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Cooper Financial Group lifted its stake in Twilio by 3.6% in the second quarter. Cooper Financial Group now owns 8,560 shares of the technology company’s stock valued at $717,000 after acquiring an additional 299 shares during the last quarter. ARK Investment Management LLC lifted its stake in shares of Twilio by 11.0% in the second quarter. ARK Investment Management LLC now owns 5,572,436 shares of the technology company’s stock worth $586,053,000 after buying an additional 551,175 shares during the last quarter. 180 Wealth Advisors LLC lifted its stake in shares of Twilio by 38.3% in the second quarter. 180 Wealth Advisors LLC now owns 18,656 shares of the technology company’s stock worth $1,589,000 after buying an additional 5,165 shares during the last quarter. DnB Asset Management AS lifted its stake in shares of Twilio by 12.8% in the second quarter. DnB Asset Management AS now owns 29,094 shares of the technology company’s stock worth $2,438,000 after buying an additional 3,294 shares during the last quarter. Finally, NuWave Investment Management LLC lifted its stake in shares of Twilio by 85.4% in the second quarter. NuWave Investment Management LLC now owns 8,480 shares of the technology company’s stock worth $711,000 after buying an additional 3,905 shares during the last quarter. 79.32% of the stock is currently owned by institutional investors and hedge funds.

Twilio Stock Performance

Shares of NYSE TWLO opened at $73.91 on Monday. The firm’s 50-day simple moving average is $80.34 and its 200 day simple moving average is $105.98. The company has a current ratio of 6.42, a quick ratio of 6.42 and a debt-to-equity ratio of 0.09. Twilio Inc. has a 12-month low of $64.29 and a 12-month high of $373.00.

Twilio (NYSE:TWLOGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The technology company reported ($1.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.96) by ($0.51). The company had revenue of $943.35 million for the quarter, compared to analyst estimates of $920.97 million. Twilio had a negative return on equity of 7.05% and a negative net margin of 31.16%. The firm’s quarterly revenue was up 41.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.94) EPS. Research analysts predict that Twilio Inc. will post -4.3 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Khozema Shipchandler sold 1,765 shares of the company’s stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $81.10, for a total transaction of $143,141.50. Following the transaction, the chief operating officer now owns 91,454 shares in the company, valued at approximately $7,416,919.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Twilio news, COO Khozema Shipchandler sold 1,765 shares of the company’s stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $81.10, for a total transaction of $143,141.50. Following the transaction, the chief operating officer now directly owns 91,454 shares in the company, valued at approximately $7,416,919.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Eyal Manor sold 853 shares of the company’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $82.69, for a total transaction of $70,534.57. Following the transaction, the insider now owns 160,358 shares in the company, valued at $13,260,003.02. The disclosure for this sale can be found here. Insiders have sold a total of 12,496 shares of company stock worth $1,057,136 in the last 90 days. Corporate insiders own 4.96% of the company’s stock.

Analysts Set New Price Targets

TWLO has been the subject of a number of analyst reports. Mizuho reduced their price objective on shares of Twilio from $200.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, August 5th. BTIG Research dropped their target price on shares of Twilio from $130.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday. Canaccord Genuity Group dropped their target price on shares of Twilio from $245.00 to $153.00 and set a “buy” rating on the stock in a research report on Friday, August 5th. Barclays dropped their target price on shares of Twilio to $90.00 in a research report on Monday, August 15th. Finally, Sanford C. Bernstein started coverage on shares of Twilio in a research report on Tuesday, July 19th. They set a “market perform” rating and a $91.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, Twilio presently has a consensus rating of “Moderate Buy” and a consensus price target of $154.84.

About Twilio

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Twilio Inc, together with its subsidiaries, provides a cloud communications platform that enables developers to build, scale, and operate customer engagement within software applications in the United States and internationally. Its customer engagement platform provides a set of application programming interfaces that handle the higher-level communication logic needed for nearly every type of customer engagement, as well as enable developers to embed voice, messaging, video, and email capabilities into their applications.

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Institutional Ownership by Quarter for Twilio (NYSE:TWLO)

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