Wells Fargo & Company Upgrades Twilio (NYSE:TWLO) to Overweight

Wells Fargo & Company upgraded shares of Twilio (NYSE:TWLO) from an equal weight rating to an overweight rating in a research note released on Tuesday, Marketbeat reports. Wells Fargo & Company currently has $120.00 price objective on the technology company’s stock, up from their previous price objective of $80.00.

Several other brokerages also recently commented on TWLO. Jefferies Financial Group boosted their target price on Twilio from $60.00 to $85.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Oppenheimer increased their price objective on shares of Twilio from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Barclays boosted their target price on shares of Twilio from $65.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Needham & Company LLC increased their price target on Twilio from $71.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, TD Cowen boosted their price objective on Twilio from $70.00 to $85.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $81.36.

Twilio Price Performance

NYSE TWLO opened at $97.13 on Tuesday. The business has a fifty day moving average price of $70.76 and a two-hundred day moving average price of $62.99. Twilio has a fifty-two week low of $52.51 and a fifty-two week high of $101.00. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.06 and a current ratio of 5.06.

Insider Buying and Selling

In related news, insider Dana Wagner sold 4,512 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $80.00, for a total transaction of $360,960.00. Following the transaction, the insider now owns 142,291 shares in the company, valued at $11,383,280. The trade was a 3.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Aidan Viggiano sold 1,931 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $61.67, for a total transaction of $119,084.77. Following the completion of the sale, the chief financial officer now owns 184,570 shares of the company’s stock, valued at $11,382,431.90. The trade was a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,468 shares of company stock valued at $3,509,830 over the last 90 days. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Twilio

A number of institutional investors have recently modified their holdings of TWLO. Empowered Funds LLC grew its holdings in shares of Twilio by 17.3% during the first quarter. Empowered Funds LLC now owns 7,526 shares of the technology company’s stock valued at $460,000 after buying an additional 1,108 shares during the last quarter. Illinois Municipal Retirement Fund bought a new stake in Twilio during the 1st quarter worth approximately $507,000. Forsta AP Fonden raised its stake in shares of Twilio by 17.4% in the first quarter. Forsta AP Fonden now owns 37,100 shares of the technology company’s stock worth $2,269,000 after purchasing an additional 5,500 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Twilio by 2.2% in the first quarter. Sei Investments Co. now owns 17,842 shares of the technology company’s stock valued at $1,091,000 after purchasing an additional 378 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its position in shares of Twilio by 59.7% during the first quarter. Avantax Advisory Services Inc. now owns 13,550 shares of the technology company’s stock valued at $829,000 after buying an additional 5,063 shares during the last quarter. 84.27% of the stock is owned by institutional investors and hedge funds.

About Twilio

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.