M&T Bank Corp Purchases 1,211 Shares of Twilio Inc. (NYSE:TWLO)

M&T Bank Corp grew its position in Twilio Inc. (NYSE:TWLO) by 16.3% during the third quarter, HoldingsChannel.com reports. The fund owned 8,642 shares of the technology company’s stock after acquiring an additional 1,211 shares during the quarter. M&T Bank Corp’s holdings in Twilio were worth $563,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. SouthState Corp increased its position in Twilio by 159.1% in the second quarter. SouthState Corp now owns 500 shares of the technology company’s stock worth $28,000 after purchasing an additional 307 shares during the last quarter. True Wealth Design LLC raised its position in shares of Twilio by 5,200.0% during the 3rd quarter. True Wealth Design LLC now owns 424 shares of the technology company’s stock valued at $28,000 after buying an additional 416 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Twilio in the 2nd quarter valued at about $29,000. Brooklyn Investment Group purchased a new position in Twilio in the third quarter worth about $46,000. Finally, Venturi Wealth Management LLC increased its stake in Twilio by 205.4% during the third quarter. Venturi Wealth Management LLC now owns 733 shares of the technology company’s stock worth $48,000 after acquiring an additional 493 shares during the last quarter. 84.27% of the stock is owned by hedge funds and other institutional investors.

Twilio Trading Down 1.7 %

NYSE:TWLO opened at $109.74 on Wednesday. The firm has a 50-day simple moving average of $91.47 and a 200-day simple moving average of $70.68. Twilio Inc. has a one year low of $52.51 and a one year high of $116.43. The firm has a market cap of $16.83 billion, a P/E ratio of -42.70, a P/E/G ratio of 3.26 and a beta of 1.38. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.06 and a current ratio of 5.06.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Northland Securities raised their price objective on Twilio from $66.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Oppenheimer boosted their price objective on shares of Twilio from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Monness Crespi & Hardt upgraded shares of Twilio from a “neutral” rating to a “buy” rating and set a $135.00 target price for the company in a report on Friday, November 15th. UBS Group upped their price target on shares of Twilio from $74.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group raised their price objective on shares of Twilio from $67.00 to $77.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $86.52.

Insider Activity at Twilio

In other news, CEO Khozema Shipchandler sold 11,073 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $65.03, for a total value of $720,077.19. Following the sale, the chief executive officer now directly owns 278,134 shares in the company, valued at approximately $18,087,054.02. This trade represents a 3.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Aidan Viggiano sold 6,701 shares of Twilio stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $65.03, for a total transaction of $435,766.03. Following the completion of the transaction, the chief financial officer now directly owns 177,869 shares in the company, valued at approximately $11,566,821.07. The trade was a 3.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,575 shares of company stock valued at $3,863,961 over the last ninety days. 4.50% of the stock is owned by company insiders.

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.