Twilio (NYSE:TWLO) Stock Price Down 8.2% After Analyst Downgrade

Twilio Inc. (NYSE:TWLO)’s stock price dropped 8.2% on Wednesday after Macquarie lowered their price target on the stock from $69.00 to $63.00. Macquarie currently has a neutral rating on the stock. Twilio traded as low as $58.07 and last traded at $58.16. Approximately 5,209,947 shares were traded during trading, an increase of 64% from the average daily volume of 3,184,619 shares. The stock had previously closed at $63.37.

Other equities analysts have also issued reports about the stock. UBS Group lowered their price target on shares of Twilio from $82.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday, March 6th. JMP Securities reiterated a “market outperform” rating and issued a $110.00 price target on shares of Twilio in a research report on Thursday, February 15th. Robert W. Baird reduced their price target on Twilio from $70.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday. Oppenheimer restated an “outperform” rating and set a $75.00 price objective on shares of Twilio in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada reiterated an “underperform” rating and set a $50.00 target price on shares of Twilio in a research report on Wednesday, March 6th. Two 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 company. According to data from MarketBeat, Twilio has an average rating of “Hold” and a consensus target price of $68.59.

Insider Activity

In related news, CFO Aidan Viggiano sold 1,694 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $63.01, for a total transaction of $106,738.94. Following the completion of the sale, the chief financial officer now owns 167,101 shares of the company’s stock, valued at $10,529,034.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Aidan Viggiano sold 1,694 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $63.01, for a total value of $106,738.94. Following the transaction, the chief financial officer now owns 167,101 shares in the company, valued at $10,529,034.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dana Wagner sold 458 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $55.71, for a total value of $25,515.18. Following the completion of the sale, the insider now directly owns 171,744 shares of the company’s stock, valued at $9,567,858.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,958 shares of company stock valued at $1,910,447. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TWLO. Norges Bank bought a new position in shares of Twilio during the 4th quarter worth approximately $179,739,000. Kodai Capital Management LP bought a new stake in Twilio during the fourth quarter worth $82,558,000. Contrarius Investment Management Ltd bought a new stake in Twilio during the fourth quarter worth $80,043,000. Robertson Stephens Wealth Management LLC boosted its position in Twilio by 102.2% in the third quarter. Robertson Stephens Wealth Management LLC now owns 13,796 shares of the technology company’s stock worth $807,000 after purchasing an additional 650,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Twilio by 73.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,212,453 shares of the technology company’s stock valued at $70,965,000 after purchasing an additional 515,068 shares during the period. 84.27% of the stock is owned by institutional investors.

Twilio Trading Up 1.5 %

The stock has a market capitalization of $10.83 billion, a PE ratio of -14.83 and a beta of 1.33. The company has a current ratio of 6.64, a quick ratio of 6.64 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average price of $60.69 and a 200-day moving average price of $64.30.

Twilio (NYSE:TWLO) last posted its quarterly earnings data on Wednesday, February 14th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.17. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.04 billion. Twilio had a negative net margin of 24.44% and a negative return on equity of 1.66%. As a group, equities analysts forecast that Twilio Inc. will post -0.11 EPS for the current fiscal year.

Twilio Company Profile

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.