Allspring Global Investments Holdings LLC Has $24 Million Holdings in Twilio Inc. (NYSE:TWLO)

Allspring Global Investments Holdings LLC cut its holdings in shares of Twilio Inc. (NYSE:TWLO) by 34.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 244,517 shares of the technology company’s stock after selling 125,713 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Twilio were worth $24,004,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of TWLO. UMB Bank n.a. acquired a new stake in Twilio during the 1st quarter worth about $37,000. CX Institutional acquired a new stake in Twilio during the 1st quarter worth about $39,000. Parkside Financial Bank & Trust boosted its position in Twilio by 79.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 375 shares of the technology company’s stock worth $41,000 after acquiring an additional 166 shares during the period. Private Trust Co. NA boosted its position in Twilio by 395.6% during the 4th quarter. Private Trust Co. NA now owns 451 shares of the technology company’s stock worth $49,000 after acquiring an additional 360 shares during the period. Finally, AdvisorNet Financial Inc boosted its position in Twilio by 1,778.6% during the 1st quarter. AdvisorNet Financial Inc now owns 526 shares of the technology company’s stock worth $52,000 after acquiring an additional 498 shares during the period. 84.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Twilio

In other news, CEO Khozema Shipchandler sold 14,545 shares of Twilio stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $91.61, for a total transaction of $1,332,467.45. Following the sale, the chief executive officer owned 280,589 shares of the company’s stock, valued at approximately $25,704,758.29. This trade represents a 4.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Erika Rottenberg sold 4,100 shares of Twilio stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $120.03, for a total value of $492,123.00. Following the sale, the director directly owned 33,488 shares in the company, valued at $4,019,564.64. The trade was a 10.91% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,304 shares of company stock valued at $2,841,735. 4.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Robert W. Baird decreased their price objective on Twilio from $160.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Wall Street Zen downgraded Twilio from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 30th. HSBC raised Twilio from a “reduce” rating to a “hold” rating and raised their price target for the stock from $77.00 to $99.00 in a research note on Monday, May 5th. Jefferies Financial Group set a $132.00 price target on Twilio and gave the stock a “hold” rating in a research note on Sunday, June 15th. Finally, Tigress Financial reaffirmed a “buy” rating and set a $170.00 price target on shares of Twilio in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Twilio currently has an average rating of “Moderate Buy” and a consensus price target of $126.39.

Twilio Stock Performance

TWLO opened at $117.39 on Wednesday. The firm has a market capitalization of $17.92 billion, a P/E ratio of -559.00, a price-to-earnings-growth ratio of 3.87 and a beta of 1.30. The stock’s 50 day moving average price is $112.58 and its two-hundred day moving average price is $111.61. The company has a quick ratio of 4.78, a current ratio of 4.78 and a debt-to-equity ratio of 0.12. Twilio Inc. has a 12-month low of $55.38 and a 12-month high of $151.95.

Twilio (NYSE:TWLO) last released its earnings results on Thursday, May 1st. The technology company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.22. Twilio had a positive return on equity of 2.25% and a negative net margin of 0.74%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the firm posted $0.80 EPS. The company’s revenue was up 12.0% on a year-over-year basis. On average, equities analysts forecast that Twilio Inc. will post 1.44 earnings per share for the current 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.