Twilio Inc. (NYSE:TWLO) Stake Reduced by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its stake in Twilio Inc. (NYSE:TWLO) by 15.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,411 shares of the technology company’s stock after selling 257 shares during the quarter. Corebridge Financial Inc.’s holdings in Twilio were worth $153,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Ritholtz Wealth Management bought a new stake in shares of Twilio during the fourth quarter valued at approximately $344,000. Bleakley Financial Group LLC acquired a new stake in Twilio in the 4th quarter valued at approximately $230,000. Aigen Investment Management LP raised its stake in Twilio by 81.6% during the 4th quarter. Aigen Investment Management LP now owns 11,546 shares of the technology company’s stock valued at $1,248,000 after acquiring an additional 5,188 shares in the last quarter. Highland Capital Management LLC acquired a new position in Twilio during the 4th quarter worth $912,000. Finally, Moloney Securities Asset Management LLC bought a new position in shares of Twilio in the fourth quarter worth $860,000. Institutional investors and hedge funds own 84.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on TWLO shares. UBS Group raised their target price on shares of Twilio from $145.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Piper Sandler reiterated an “overweight” rating and set a $142.00 price objective (up previously from $94.00) on shares of Twilio in a research note on Friday, January 24th. Jefferies Financial Group upped their target price on Twilio from $105.00 to $145.00 and gave the stock a “hold” rating in a research report on Friday, February 14th. Oppenheimer increased their price target on Twilio from $90.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Finally, Monness Crespi & Hardt boosted their price objective on Twilio from $135.00 to $152.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Twilio presently has a consensus rating of “Moderate Buy” and an average target price of $135.35.

Twilio Stock Performance

Shares of NYSE TWLO opened at $86.24 on Tuesday. Twilio Inc. has a 12 month low of $52.51 and a 12 month high of $151.95. The stock has a 50 day moving average of $108.62 and a 200-day moving average of $103.16. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $13.16 billion, a P/E ratio of -134.75, a P/E/G ratio of 4.30 and a beta of 1.50.

Twilio (NYSE:TWLO) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.77). The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. Twilio had a positive return on equity of 1.38% and a negative net margin of 2.45%. As a group, equities research analysts predict that Twilio Inc. will post 1.44 EPS for the current year.

Insider Activity at Twilio

In related news, CFO Aidan Viggiano sold 2,500 shares of Twilio stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $117.45, for a total value of $293,625.00. Following the transaction, the chief financial officer now directly owns 184,164 shares of the company’s stock, valued at $21,630,061.80. This trade represents a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Khozema Shipchandler sold 12,056 shares of Twilio stock in a transaction on Monday, March 31st. The shares were sold at an average price of $95.88, for a total value of $1,155,929.28. Following the completion of the transaction, the chief executive officer now owns 295,134 shares in the company, valued at approximately $28,297,447.92. The trade was a 3.92 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,471 shares of company stock worth $2,344,149. Company insiders own 4.50% of the company’s stock.

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.