Principal Financial Group Inc. Lowers Holdings in Twilio Inc. (NYSE:TWLO)

Principal Financial Group Inc. reduced its stake in shares of Twilio Inc. (NYSE:TWLO) by 13.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,643 shares of the technology company’s stock after selling 1,746 shares during the period. Principal Financial Group Inc.’s holdings in Twilio were worth $759,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Affinity Investment Advisors LLC purchased a new position in Twilio during the third quarter worth approximately $434,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Twilio by 167.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,612 shares of the technology company’s stock worth $953,000 after buying an additional 9,141 shares during the last quarter. Susquehanna Fundamental Investments LLC raised its position in shares of Twilio by 78.2% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 71,134 shares of the technology company’s stock worth $4,041,000 after buying an additional 31,227 shares during the period. Farmers Trust Co. boosted its holdings in Twilio by 58.1% in the third quarter. Farmers Trust Co. now owns 57,143 shares of the technology company’s stock valued at $3,727,000 after acquiring an additional 21,001 shares during the last quarter. Finally, Clearline Capital LP purchased a new stake in Twilio during the second quarter valued at about $636,000. 84.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Twilio news, CFO Aidan Viggiano sold 6,701 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $65.03, for a total value of $435,766.03. Following the sale, the chief financial officer now directly owns 177,869 shares of the company’s stock, valued at $11,566,821.07. This trade represents a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Khozema Shipchandler sold 11,073 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $65.03, for a total transaction of $720,077.19. Following the transaction, the chief executive officer now directly owns 278,134 shares of the company’s stock, valued at approximately $18,087,054.02. This trade represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,946 shares of company stock worth $3,354,771 over the last ninety days. 4.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on TWLO. The Goldman Sachs Group raised their price objective on Twilio from $67.00 to $77.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Oppenheimer raised their price target on shares of Twilio from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Piper Sandler boosted their price objective on shares of Twilio from $83.00 to $94.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Northland Securities raised their target price on shares of Twilio from $66.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company raised shares of Twilio from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $80.00 to $120.00 in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $83.70.

Twilio Trading Up 2.2 %

Shares of NYSE TWLO opened at $104.35 on Friday. The stock has a market capitalization of $16.01 billion, a P/E ratio of -40.60, a PEG ratio of 2.95 and a beta of 1.32. The stock’s 50 day moving average price is $76.32 and its two-hundred day moving average price is $64.80. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.12. Twilio Inc. has a 52-week low of $52.51 and a 52-week high of $104.74.

Twilio 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.