Synovus Financial Corp Lowers Stock Position in Twilio Inc. (NYSE:TWLO)

Synovus Financial Corp lowered its position in Twilio Inc. (NYSE:TWLO) by 19.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,058 shares of the technology company’s stock after selling 991 shares during the period. Synovus Financial Corp’s holdings in Twilio were worth $265,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its position in Twilio by 8.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 5,471 shares of the technology company’s stock worth $311,000 after purchasing an additional 448 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Twilio by 197.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 26,520 shares of the technology company’s stock valued at $1,507,000 after acquiring an additional 17,602 shares during the period. Blue Trust Inc. increased its holdings in Twilio by 831.4% in the 2nd quarter. Blue Trust Inc. now owns 1,304 shares of the technology company’s stock worth $80,000 after acquiring an additional 1,164 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in Twilio during the second quarter worth $57,000. Finally, Calamos Advisors LLC lifted its holdings in Twilio by 131.5% during the second quarter. Calamos Advisors LLC now owns 47,527 shares of the technology company’s stock valued at $2,700,000 after purchasing an additional 27,000 shares in the last quarter. 84.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Twilio

In other Twilio news, CFO Aidan Viggiano sold 6,701 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 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. This trade represents a 3.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Dana Wagner sold 1,248 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $65.54, for a total transaction of $81,793.92. Following the completion of the sale, the insider now directly owns 151,315 shares in the company, valued at $9,917,185.10. This trade represents a 0.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,575 shares of company stock worth $3,863,961 over the last 90 days. Company insiders own 4.50% of the company’s stock.

Twilio Trading Down 3.9 %

Shares of TWLO stock opened at $105.46 on Thursday. Twilio Inc. has a 1-year low of $52.51 and a 1-year high of $116.43. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.06 and a quick ratio of 5.06. The business’s fifty day moving average price is $92.20 and its 200 day moving average price is $70.92. The firm has a market capitalization of $16.18 billion, a PE ratio of -41.04, a P/E/G ratio of 3.26 and a beta of 1.38.

Analyst Ratings Changes

Several research analysts recently weighed in on TWLO shares. Mizuho upped their price target on shares of Twilio from $70.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Morgan Stanley raised their target price on Twilio from $77.00 to $115.00 and gave the company an “equal weight” rating in a research report on Wednesday. Oppenheimer boosted their price target on Twilio from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. The Goldman Sachs Group raised their price objective on Twilio from $67.00 to $77.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, TD Cowen upped their target price on shares of Twilio from $70.00 to $85.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $90.35.

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.