Coatue Management LLC Purchases 1,404,668 Shares of Twilio Inc. (NYSE:TWLO)

Coatue Management LLC boosted its holdings in shares of Twilio Inc. (NYSE:TWLO) by 345.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,811,133 shares of the technology company’s stock after acquiring an additional 1,404,668 shares during the period. Twilio accounts for about 2.8% of Coatue Management LLC’s investment portfolio, making the stock its 13th largest holding. Coatue Management LLC owned about 1.02% of Twilio worth $713,876,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BerganKDV Wealth Management LLC raised its holdings in shares of Twilio by 357.1% during the second quarter. BerganKDV Wealth Management LLC now owns 64 shares of the technology company’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Meridian Wealth Partners LLC purchased a new position in shares of Twilio during the first quarter valued at approximately $29,000. Holloway Wealth Management LLC purchased a new position in shares of Twilio during the second quarter valued at approximately $32,000. Red Door Wealth Management LLC bought a new stake in Twilio during the second quarter valued at approximately $34,000. Finally, Lake Point Wealth Management bought a new stake in Twilio during the second quarter valued at approximately $39,000. 77.67% of the stock is owned by institutional investors.

A number of research firms have weighed in on TWLO. Zacks Investment Research upgraded shares of Twilio from a “sell” rating to a “hold” rating and set a $338.00 price target for the company in a research report on Wednesday, September 29th. Mizuho upped their price target on shares of Twilio from $400.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, July 30th. Wolfe Research upped their price target on shares of Twilio from $440.00 to $480.00 and gave the stock an “outperform” rating in a research report on Monday, July 12th. Robert W. Baird upped their price target on shares of Twilio from $430.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, July 30th. Finally, Royal Bank of Canada upped their target price on shares of Twilio from $415.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, July 30th. Two analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $467.65.

In other Twilio news, CFO Khozema Shipchandler sold 1,223 shares of the business’s stock in a transaction dated Tuesday, October 5th. The stock was sold at an average price of $312.38, for a total value of $382,040.74. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jeff Lawson sold 49,500 shares of the business’s stock in a transaction dated Wednesday, July 21st. The shares were sold at an average price of $387.74, for a total value of $19,193,130.00. The disclosure for this sale can be found here. Insiders sold a total of 165,902 shares of company stock worth $60,885,039 in the last three months. Company insiders own 4.96% of the company’s stock.

TWLO stock traded up $14.81 during midday trading on Thursday, hitting $360.57. 53,668 shares of the company’s stock were exchanged, compared to its average volume of 1,895,517. The stock has a market capitalization of $63.87 billion, a price-to-earnings ratio of -80.20 and a beta of 1.45. The firm has a 50 day moving average price of $346.02 and a 200-day moving average price of $353.23. The company has a current ratio of 10.93, a quick ratio of 10.93 and a debt-to-equity ratio of 0.09. Twilio Inc. has a 12-month low of $254.82 and a 12-month high of $457.30.

Twilio (NYSE:TWLO) last announced its quarterly earnings results on Thursday, July 29th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.02. Twilio had a negative return on equity of 5.92% and a negative net margin of 32.40%. The company had revenue of $668.93 million during the quarter, compared to analyst estimates of $597.74 million. On average, sell-side analysts forecast that Twilio Inc. will post -2.85 EPS for the current fiscal year.

Twilio Company Profile

Twilio, Inc engages in the development of communications software, cloud-based platform, and services. Its products include Twilio flex, messaging, programmable voice, programmable video, elastic SIP trunking, and IoT. The company was founded by John Wolthuis, Jeffery G. Lawson, and Evan Cooke in March 2008 and is headquartered in San Francisco, CA.

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Institutional Ownership by Quarter for Twilio (NYSE:TWLO)

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