King Luther Capital Management Corp Reduces Holdings in Twilio Inc. (NYSE:TWLO)

King Luther Capital Management Corp lowered its position in shares of Twilio Inc. (NYSE:TWLO) by 19.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 190,218 shares of the technology company’s stock after selling 46,172 shares during the quarter. King Luther Capital Management Corp owned 0.11% of Twilio worth $14,432,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Twilio by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 17,567,835 shares of the technology company’s stock valued at $1,028,245,000 after purchasing an additional 445,877 shares during the last quarter. Norges Bank acquired a new position in shares of Twilio during the fourth quarter worth about $179,739,000. Dimensional Fund Advisors LP boosted its holdings in Twilio by 18.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,385,466 shares of the technology company’s stock valued at $105,131,000 after purchasing an additional 217,796 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Twilio by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,255,577 shares of the technology company’s stock valued at $95,261,000 after buying an additional 43,124 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Twilio by 3.2% in the third quarter. Northern Trust Corp now owns 1,254,309 shares of the technology company’s stock valued at $73,415,000 after buying an additional 38,776 shares during the last quarter. Hedge funds and other institutional investors own 84.27% of the company’s stock.

Insider Transactions at Twilio

In other Twilio news, CEO Khozema Shipchandler sold 10,961 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $62.13, for a total transaction of $681,006.93. Following the completion of the sale, the chief executive officer now directly owns 335,982 shares of the company’s stock, valued at $20,874,561.66. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Twilio news, insider Dana Wagner sold 4,130 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $62.14, for a total transaction of $256,638.20. Following the transaction, the insider now directly owns 167,614 shares in the company, valued at approximately $10,415,533.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Khozema Shipchandler sold 10,961 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $62.13, for a total transaction of $681,006.93. Following the completion of the transaction, the chief executive officer now directly owns 335,982 shares of the company’s stock, valued at approximately $20,874,561.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,692 shares of company stock valued at $1,714,597. Insiders own 4.50% of the company’s stock.

Twilio Stock Performance

Shares of TWLO stock traded down $0.65 during trading hours on Wednesday, hitting $59.80. 935,131 shares of the company were exchanged, compared to its average volume of 3,152,365. Twilio Inc. has a 52-week low of $49.86 and a 52-week high of $78.16. The stock has a market capitalization of $10.24 billion, a price-to-earnings ratio of -15.07, a P/E/G ratio of 10.28 and a beta of 1.33. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.11. The firm has a fifty day simple moving average of $60.85 and a 200 day simple moving average of $65.03.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. TD Cowen cut their price objective on Twilio from $72.00 to $65.00 and set a “market perform” rating for the company in a research report on Wednesday, March 6th. Royal Bank of Canada restated an “underperform” rating and set a $50.00 price objective on shares of Twilio in a research note on Wednesday, March 6th. Stifel Nicolaus reduced their price objective on Twilio from $70.00 to $60.00 and set a “hold” rating for the company in a research report on Wednesday, March 6th. Barclays lifted their target price on Twilio from $60.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $75.00 target price on shares of Twilio in a research report on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $69.95.

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.