Cedar Wealth Management LLC Sells 951 Shares of Twilio Inc. (NYSE:TWLO)

Cedar Wealth Management LLC reduced its holdings in shares of Twilio Inc. (NYSE:TWLO) by 12.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,816 shares of the technology company’s stock after selling 951 shares during the quarter. Cedar Wealth Management LLC’s holdings in Twilio were worth $445,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SouthState Corp raised its holdings in shares of Twilio by 159.1% in the 2nd quarter. SouthState Corp now owns 500 shares of the technology company’s stock valued at $28,000 after purchasing an additional 307 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Twilio during the second quarter worth $29,000. GAMMA Investing LLC boosted its position in shares of Twilio by 70.6% in the second quarter. GAMMA Investing LLC now owns 638 shares of the technology company’s stock valued at $36,000 after acquiring an additional 264 shares during the period. Lynx Investment Advisory acquired a new position in shares of Twilio in the second quarter valued at about $45,000. Finally, Venturi Wealth Management LLC boosted its holdings in Twilio by 205.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 733 shares of the technology company’s stock valued at $48,000 after purchasing an additional 493 shares during the period. 84.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Twilio

In other Twilio news, insider Dana Wagner sold 4,174 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $65.02, for a total value of $271,393.48. Following the transaction, the insider now directly owns 152,563 shares of the company’s stock, valued at approximately $9,919,646.26. The trade was a 2.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Khozema Shipchandler sold 11,073 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $65.03, for a total transaction of $720,077.19. Following the sale, the chief executive officer now directly owns 278,134 shares of the company’s stock, valued at approximately $18,087,054.02. This trade represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,946 shares of company stock worth $3,354,771 over the last ninety days. Insiders own 4.50% of the company’s stock.

Twilio Stock Performance

NYSE:TWLO opened at $96.33 on Wednesday. The stock’s 50-day moving average is $73.78 and its 200-day moving average is $64.00. The stock has a market cap of $14.78 billion, a P/E ratio of -37.48, a price-to-earnings-growth ratio of 2.79 and a beta of 1.32. Twilio Inc. has a 1-year low of $52.51 and a 1-year high of $101.00. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.12.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TWLO. JMP Securities reissued a “market outperform” rating and set a $110.00 price target on shares of Twilio in a research report on Tuesday, October 8th. Tigress Financial boosted their price target on Twilio from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Piper Sandler increased their price objective on shares of Twilio from $83.00 to $94.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Needham & Company LLC raised their target price on shares of Twilio from $71.00 to $91.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Monness Crespi & Hardt raised shares of Twilio from a “neutral” rating to a “buy” rating and set a $135.00 price target for the company in a report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $83.70.

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.