Meridian Wealth Management LLC Acquires 1,538 Shares of Twilio Inc. (NYSE:TWLO)

Meridian Wealth Management LLC lifted its stake in Twilio Inc. (NYSE:TWLO) by 11.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,585 shares of the technology company’s stock after purchasing an additional 1,538 shares during the quarter. Meridian Wealth Management LLC’s holdings in Twilio were worth $951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. SouthState Corp boosted its stake in shares of Twilio by 159.1% during the 2nd quarter. SouthState Corp now owns 500 shares of the technology company’s stock worth $28,000 after acquiring an additional 307 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Twilio in the second quarter valued at $29,000. GAMMA Investing LLC lifted its stake in Twilio by 70.6% in the second quarter. GAMMA Investing LLC now owns 638 shares of the technology company’s stock worth $36,000 after purchasing an additional 264 shares during the last quarter. Lynx Investment Advisory purchased a new position in Twilio during the 2nd quarter valued at $45,000. Finally, Venturi Wealth Management LLC boosted its stake in shares of Twilio by 205.4% during the third quarter. Venturi Wealth Management LLC now owns 733 shares of the technology company’s stock valued at $48,000 after purchasing an additional 493 shares during the period. Institutional investors own 84.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TWLO. StockNews.com upgraded Twilio from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. The Goldman Sachs Group boosted their target price on Twilio from $67.00 to $77.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Sanford C. Bernstein raised their target price on Twilio from $68.00 to $70.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 27th. Needham & Company LLC increased their price objective on shares of Twilio from $71.00 to $91.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Morgan Stanley upped their price objective on Twilio from $70.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Two investment 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $83.70.

Twilio Stock Performance

TWLO opened at $104.35 on Friday. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $16.01 billion, a P/E ratio of -40.60, a price-to-earnings-growth ratio of 2.95 and a beta of 1.32. The stock’s 50 day moving average price is $76.32 and its two-hundred day moving average price is $64.80. Twilio Inc. has a 12-month low of $52.51 and a 12-month high of $104.74.

Insiders Place Their Bets

In other news, insider Dana Wagner sold 4,174 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $65.02, for a total value of $271,393.48. Following the completion of the transaction, the insider now owns 152,563 shares of the company’s stock, valued at $9,919,646.26. The trade was a 2.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Khozema Shipchandler sold 11,073 shares of the firm’s 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 $720,077.19. Following the sale, the chief executive officer now owns 278,134 shares in the company, valued at $18,087,054.02. This trade represents a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,946 shares of company stock valued at $3,354,771. 4.50% of the stock is currently owned by corporate insiders.

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.