PNC Financial Services Group Inc. Raises Position in Twilio Inc. (NYSE:TWLO)

PNC Financial Services Group Inc. grew its holdings in shares of Twilio Inc. (NYSE:TWLO) by 5.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,935 shares of the technology company’s stock after purchasing an additional 823 shares during the period. PNC Financial Services Group Inc.’s holdings in Twilio were worth $1,209,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. QRG Capital Management Inc. acquired a new position in shares of Twilio in the 3rd quarter valued at $348,000. Invesco Ltd. increased its position in shares of Twilio by 1.1% in the 3rd quarter. Invesco Ltd. now owns 192,951 shares of the technology company’s stock valued at $11,293,000 after acquiring an additional 2,009 shares during the period. LPL Financial LLC increased its position in shares of Twilio by 1.8% in the 3rd quarter. LPL Financial LLC now owns 122,846 shares of the technology company’s stock valued at $7,190,000 after acquiring an additional 2,149 shares during the period. Mariner LLC increased its position in shares of Twilio by 7.8% in the 3rd quarter. Mariner LLC now owns 44,265 shares of the technology company’s stock valued at $2,591,000 after acquiring an additional 3,212 shares during the period. Finally, Northern Trust Corp increased its position in shares of Twilio by 3.2% in the 3rd quarter. Northern Trust Corp now owns 1,254,309 shares of the technology company’s stock valued at $73,415,000 after acquiring an additional 38,776 shares during the period. Hedge funds and other institutional investors own 84.27% of the company’s stock.

Insiders Place Their Bets

In other Twilio news, insider Dana Wagner sold 4,130 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $62.14, for a total value of $256,638.20. Following the transaction, the insider now directly owns 167,614 shares of the company’s stock, valued at approximately $10,415,533.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Dana Wagner sold 4,130 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $62.14, for a total transaction of $256,638.20. Following the completion of the sale, the insider now owns 167,614 shares in the company, valued at approximately $10,415,533.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Aidan Viggiano sold 6,633 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $62.12, for a total transaction of $412,041.96. Following the sale, the chief financial officer now owns 234,411 shares of the company’s stock, valued at approximately $14,561,611.32. The disclosure for this sale can be found here. Insiders have sold 52,349 shares of company stock valued at $3,120,046 in the last ninety days. 4.50% of the stock is currently owned by corporate insiders.

Twilio Price Performance

Shares of Twilio stock opened at $54.72 on Friday. Twilio Inc. has a twelve month low of $49.86 and a twelve month high of $78.16. The firm’s 50-day moving average price is $58.78 and its 200 day moving average price is $64.17. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.11.

Twilio (NYSE:TWLO) last released its earnings results on Tuesday, May 7th. The technology company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.15. Twilio had a negative net margin of 17.37% and a negative return on equity of 0.89%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. On average, research analysts expect that Twilio Inc. will post 0.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Sanford C. Bernstein cut their target price on Twilio from $70.00 to $68.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 8th. Canaccord Genuity Group cut their price target on Twilio from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. UBS Group cut their price target on Twilio from $82.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday, March 6th. Morgan Stanley downgraded Twilio from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $70.00 to $60.00 in a research report on Friday, June 14th. Finally, TD Cowen cut their price target on Twilio from $72.00 to $65.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 6th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $69.20.

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.