Sandy Spring Bank Purchases 3,255 Shares of Twilio Inc. (NYSE:TWLO)

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Sandy Spring Bank lifted its position in Twilio Inc. (NYSE:TWLO) by 34.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 12,684 shares of the technology company’s stock after acquiring an additional 3,255 shares during the quarter. Sandy Spring Bank’s holdings in Twilio were worth $3,134,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of TWLO. Morgan Stanley increased its holdings in shares of Twilio by 27.6% in the first quarter. Morgan Stanley now owns 11,281,624 shares of the technology company’s stock worth $1,009,592,000 after purchasing an additional 2,443,614 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Twilio by 44.6% during the third quarter. Jennison Associates LLC now owns 7,340,017 shares of the technology company’s stock valued at $1,813,645,000 after buying an additional 2,264,733 shares during the period. Nuveen Asset Management LLC boosted its position in shares of Twilio by 158.5% during the second quarter. Nuveen Asset Management LLC now owns 1,235,129 shares of the technology company’s stock valued at $271,012,000 after buying an additional 757,270 shares during the period. ARK Investment Management LLC boosted its position in shares of Twilio by 574.5% during the third quarter. ARK Investment Management LLC now owns 866,707 shares of the technology company’s stock valued at $214,155,000 after buying an additional 738,212 shares during the period. Finally, Nikko Asset Management Americas Inc. boosted its position in shares of Twilio by 216.7% during the third quarter. Nikko Asset Management Americas Inc. now owns 998,127 shares of the technology company’s stock valued at $248,534,000 after buying an additional 682,948 shares during the period. 84.03% of the stock is currently owned by hedge funds and other institutional investors.

TWLO has been the subject of several research analyst reports. Oppenheimer lifted their price target on shares of Twilio from $350.00 to $550.00 and gave the company an “outperform” rating in a research note on Monday. Royal Bank of Canada lifted their price target on shares of Twilio from $375.00 to $400.00 and gave the company an “outperform” rating in a research note on Tuesday, October 27th. ValuEngine raised shares of Twilio from a “hold” rating to a “buy” rating in a research note on Thursday, October 1st. FBN Securities lifted their price target on shares of Twilio from $340.00 to $360.00 in a research note on Monday, October 12th. Finally, Morgan Stanley lifted their price target on shares of Twilio from $270.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, October 13th. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $327.61.

Shares of TWLO stock traded up $4.43 during trading hours on Tuesday, reaching $282.95. 28,294 shares of the company’s stock were exchanged, compared to its average volume of 3,499,719. The stock’s 50 day moving average is $292.70 and its 200-day moving average is $238.52. The company has a market cap of $42.05 billion, a price-to-earnings ratio of -104.25 and a beta of 1.63. The company has a current ratio of 7.29, a quick ratio of 7.29 and a debt-to-equity ratio of 0.11. Twilio Inc. has a fifty-two week low of $68.06 and a fifty-two week high of $341.70.

Twilio (NYSE:TWLO) last issued its quarterly earnings results on Monday, October 26th. The technology company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. The business had revenue of $447.97 million for the quarter, compared to the consensus estimate of $407.20 million. Twilio had a negative return on equity of 5.04% and a negative net margin of 26.77%. The business’s quarterly revenue was up 51.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 earnings per share. Equities analysts anticipate that Twilio Inc. will post -1.47 EPS for the current year.

In other news, Director Richard L. Dalzell sold 1,500 shares of the business’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $226.10, for a total transaction of $339,150.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Khozema Shipchandler sold 6,808 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $254.89, for a total transaction of $1,735,291.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 185,917 shares of company stock worth $51,471,298. Insiders own 6.68% of the company’s stock.

Twilio Profile

Twilio Inc, together with its subsidiaries, provides a cloud communications platform that enables developers to build, scale, and operate communications within software applications in the United States and internationally. Its customer engagement platform provides a set of application programming interfaces that handle the higher level communication logic needed for nearly every type of customer engagement, as well as enable developers to embed voice, messaging, and video capabilities into their applications.

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Institutional Ownership by Quarter for Twilio (NYSE:TWLO)

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