State of New Jersey Common Pension Fund D Sells 36,318 Shares of Twilio Inc. (NYSE:TWLO)

State of New Jersey Common Pension Fund D lessened its holdings in Twilio Inc. (NYSE:TWLO) by 36.4% in the second quarter, HoldingsChannel reports. The fund owned 63,504 shares of the technology company’s stock after selling 36,318 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Twilio were worth $3,608,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of TWLO. Vanguard Group Inc. lifted its position in Twilio by 0.8% during the first quarter. Vanguard Group Inc. now owns 17,950,364 shares of the technology company’s stock worth $1,097,665,000 after purchasing an additional 140,791 shares during the period. Greenwood Capital Associates LLC bought a new stake in Twilio during the fourth quarter worth about $478,000. V Square Quantitative Management LLC lifted its holdings in shares of Twilio by 68.2% in the fourth quarter. V Square Quantitative Management LLC now owns 1,954 shares of the technology company’s stock worth $148,000 after acquiring an additional 792 shares during the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in shares of Twilio in the fourth quarter worth about $1,689,000. Finally, Bares Capital Management Inc. lifted its holdings in shares of Twilio by 28.6% in the fourth quarter. Bares Capital Management Inc. now owns 428,730 shares of the technology company’s stock worth $32,528,000 after acquiring an additional 95,258 shares during the last quarter. Institutional investors own 84.27% of the company’s stock.

Insider Activity

In related news, insider Dana Wagner sold 591 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $60.87, for a total transaction of $35,974.17. Following the completion of the transaction, the insider now directly owns 156,737 shares in the company, valued at $9,540,581.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Khozema Shipchandler sold 11,241 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $56.29, for a total value of $632,755.89. Following the completion of the sale, the chief executive officer now owns 300,084 shares of the company’s stock, valued at approximately $16,891,728.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Dana Wagner sold 591 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $60.87, for a total transaction of $35,974.17. Following the completion of the transaction, the insider now owns 156,737 shares in the company, valued at $9,540,581.19. The disclosure for this sale can be found here. Insiders have sold 47,030 shares of company stock valued at $2,677,475 over the last ninety days. 4.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Twilio from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Sanford C. Bernstein increased their target price on shares of Twilio from $68.00 to $70.00 and gave the company a “market perform” rating in a research report on Tuesday, August 27th. Piper Sandler restated an “overweight” rating and set a $83.00 price target (up from $77.00) on shares of Twilio in a report on Friday, August 2nd. Tigress Financial increased their target price on Twilio from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, StockNews.com upgraded Twilio from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $70.52.

Twilio Stock Down 0.3 %

Shares of TWLO opened at $60.10 on Wednesday. The firm has a fifty day moving average price of $59.63 and a 200-day moving average price of $59.35. The company has a current ratio of 5.57, a quick ratio of 5.57 and a debt-to-equity ratio of 0.11. Twilio Inc. has a 12-month low of $49.86 and a 12-month high of $78.16. The firm has a market capitalization of $10.29 billion, a P/E ratio of -14.99, a P/E/G ratio of 3.37 and a beta of 1.35.

Twilio (NYSE:TWLO) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.17. Twilio had a negative net margin of 14.02% and a negative return on equity of 0.22%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the company posted ($0.23) earnings per share. Twilio’s revenue was up 4.4% compared to the same quarter last year. Equities research analysts expect that Twilio Inc. will post 0.54 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.