Twilio Inc. (NYSE: TWLO) Chief Financial Officer Aidan Viggiano sold 1,514 shares of the company’s stock on November 17, 2023, in a transaction valued at approximately $186,645.92. The shares were sold at an average price of $123.28, resulting in a decrease of 1.17% in Viggiano’s ownership, which now totals 128,104 shares worth about $15,792,661.12. This transaction was reported in a legal filing with the Securities and Exchange Commission.
Following the sale, Twilio’s stock experienced a slight dip during trading hours on Wednesday, as shares fell by $0.45 to reach $120.23. A total of 1,718,594 shares changed hands, compared to the company’s average trading volume of 3,049,107 shares. Over the past year, Twilio’s stock has fluctuated between a low of $77.51 and a high of $151.95.
Institutional Investment Activity
Recent activities among institutional investors indicate a growing interest in Twilio. Companies such as GFG Capital LLC and CENTRAL TRUST Co each acquired new stakes in the company valued at around $25,000 during the second quarter. Additionally, Hilltop National Bank invested approximately $26,000 in Twilio shares during the same period.
In a notable move, SJS Investment Consulting Inc. raised its position in Twilio by an impressive 1,564.7% in the third quarter, bringing its total to 283 shares valued at around $28,000. Meanwhile, First Horizon Corp also entered the market with a new position worth about $28,000. Institutional investors currently hold about 84.27% of Twilio’s stock.
Analyst Ratings and Market Overview
Several research firms have recently provided their assessments of Twilio’s stock. On October 31, 2023, Morgan Stanley reaffirmed an “overweight” rating with a target price of $154.00. Oppenheimer set a target price of $145.00 with an “outperform” rating, while FBN Securities upgraded Twilio to a “strong-buy” rating on November 12, 2023. Moreover, Mizuho increased its price objective from $140.00 to $150.00, maintaining an “outperform” rating.
Currently, Twilio holds an average rating of “Moderate Buy” among analysts, with an average target price of $139.26. The company has a substantial market capitalization of $18.45 billion, a price-to-earnings (P/E) ratio of 293.24, and a price-to-earnings-growth (PEG) ratio of 3.22.
Twilio, which provides customer engagement platform solutions, operates in two segments: Twilio Communications and Twilio Segment. The company offers a range of application programming interfaces (APIs) and software solutions for communication, including messaging, voice, email, and user identity authentication.
As the landscape of customer engagement continues to evolve, Twilio remains a key player in the technology sector, drawing attention from both individual and institutional investors.
