Selective Wealth Management Inc. Sells 4,248 Shares of Twilio Inc. (NYSE:TWLO)

Selective Wealth Management Inc. cut its stake in Twilio Inc. (NYSE:TWLO) by 6.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 60,705 shares of the technology company’s stock after selling 4,248 shares during the period. Twilio makes up approximately 2.7% of Selective Wealth Management Inc.’s holdings, making the stock its 10th largest holding. Selective Wealth Management Inc.’s holdings in Twilio were worth $6,598,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of TWLO. Merit Financial Group LLC acquired a new stake in shares of Twilio during the 4th quarter worth approximately $374,000. Retireful LLC bought a new position in Twilio in the fourth quarter worth $1,475,000. Ritholtz Wealth Management acquired a new stake in Twilio during the fourth quarter worth $344,000. Gateway Investment Advisers LLC increased its holdings in Twilio by 7.1% in the 4th quarter. Gateway Investment Advisers LLC now owns 32,948 shares of the technology company’s stock valued at $3,561,000 after buying an additional 2,183 shares during the period. Finally, Sanders Morris Harris LLC acquired a new position in shares of Twilio in the 4th quarter valued at $270,000. 84.27% of the stock is currently owned by institutional investors and hedge funds.

Twilio Price Performance

Twilio stock opened at $111.98 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.06 and a current ratio of 5.06. Twilio Inc. has a 1 year low of $52.51 and a 1 year high of $117.92. The company’s 50-day moving average is $107.13 and its two-hundred day moving average is $79.12.

Insider Buying and Selling

In related news, CFO Aidan Viggiano sold 6,552 shares of Twilio stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $113.55, for a total transaction of $743,979.60. Following the transaction, the chief financial officer now owns 153,910 shares of the company’s stock, valued at $17,476,480.50. This trade represents a 4.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Khozema Shipchandler sold 10,834 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $113.58, for a total transaction of $1,230,525.72. Following the completion of the sale, the chief executive officer now directly owns 244,971 shares of the company’s stock, valued at $27,823,806.18. The trade was a 4.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,527 shares of company stock valued at $2,844,655 over the last ninety days. Insiders own 4.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TWLO. Needham & Company LLC lifted their target price on shares of Twilio from $71.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. The Goldman Sachs Group upped their price objective on Twilio from $67.00 to $77.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. JMP Securities restated a “market outperform” rating and set a $110.00 target price on shares of Twilio in a research report on Tuesday, October 8th. TD Cowen upped their price target on Twilio from $70.00 to $85.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted their price objective on Twilio from $78.00 to $83.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $93.74.

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.