ARK Investment Management LLC Cuts Stake in Twilio Inc. (NYSE:TWLO)

ARK Investment Management LLC lessened its stake in shares of Twilio Inc. (NYSE:TWLO) by 0.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,130,187 shares of the technology company’s stock after selling 1,825 shares during the quarter. Twilio comprises 3.2% of ARK Investment Management LLC’s investment portfolio, making the stock its 8th biggest holding. ARK Investment Management LLC owned about 3.94% of Twilio worth $540,967,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in TWLO. Truvestments Capital LLC lifted its position in Twilio by 123.5% in the 3rd quarter. Truvestments Capital LLC now owns 447 shares of the technology company’s stock valued at $26,000 after acquiring an additional 247 shares in the last quarter. Optimum Investment Advisors lifted its position in shares of Twilio by 68.3% during the 3rd quarter. Optimum Investment Advisors now owns 505 shares of the technology company’s stock worth $30,000 after buying an additional 205 shares in the last quarter. RVW Wealth LLC bought a new position in shares of Twilio during the 3rd quarter worth approximately $30,000. Covestor Ltd lifted its position in shares of Twilio by 419.5% during the 1st quarter. Covestor Ltd now owns 213 shares of the technology company’s stock worth $35,000 after buying an additional 172 shares in the last quarter. Finally, Quarry LP lifted its position in shares of Twilio by 328.2% during the 2nd quarter. Quarry LP now owns 561 shares of the technology company’s stock worth $36,000 after buying an additional 430 shares in the last quarter. Institutional investors own 84.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Royal Bank of Canada reissued an “underperform” rating and set a $50.00 target price on shares of Twilio in a research report on Wednesday, March 6th. Needham & Company LLC raised their price target on shares of Twilio from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, December 13th. Wells Fargo & Company decreased their price target on shares of Twilio from $70.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 6th. Northland Securities lowered shares of Twilio from an “outperform” rating to a “market perform” rating and set a $66.00 price objective for the company. in a research note on Thursday, February 15th. Finally, Robert W. Baird lifted their price objective on shares of Twilio from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Twilio has a consensus rating of “Hold” and a consensus target price of $68.90.

Insider Buying and Selling at Twilio

In other news, CFO Aidan Viggiano sold 6,581 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $72.20, for a total value of $475,148.20. Following the completion of the sale, the chief financial officer now directly owns 171,820 shares of the company’s stock, valued at $12,405,404. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Khozema Shipchandler sold 10,520 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $72.18, for a total value of $759,333.60. Following the completion of the sale, the insider now directly owns 207,599 shares of the company’s stock, valued at $14,984,495.82. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Aidan Viggiano sold 6,581 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $72.20, for a total transaction of $475,148.20. Following the completion of the sale, the chief financial officer now directly owns 171,820 shares of the company’s stock, valued at $12,405,404. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,898 shares of company stock valued at $1,796,874. Insiders own 4.20% of the company’s stock.

Twilio Price Performance

Twilio stock opened at $61.00 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.64 and a quick ratio of 6.64. The firm has a fifty day simple moving average of $64.83 and a two-hundred day simple moving average of $63.97. Twilio Inc. has a twelve month low of $45.02 and a twelve month high of $78.16.

Twilio (NYSE:TWLO) last announced its quarterly earnings data on Wednesday, February 14th. The technology company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.17. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Twilio had a negative net margin of 24.44% and a negative return on equity of 1.66%. On average, research analysts predict that Twilio Inc. will post -0.22 earnings per share for the current fiscal year.

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.