Formula Growth Ltd. purchased a new position in Twilio Inc. (NYSE:TWLO) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 250,000 shares of the technology company’s stock, valued at approximately $7,278,000. Twilio accounts for approximately 1.3% of Formula Growth Ltd.’s investment portfolio, making the stock its 25th largest position. Formula Growth Ltd. owned 0.28% of Twilio as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Thompson Davis & CO. Inc. lifted its position in shares of Twilio by 0.7% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 4,750 shares of the technology company’s stock worth $138,000 after purchasing an additional 34 shares during the period. IFP Advisors Inc lifted its position in shares of Twilio by 10.0% in the 2nd quarter. IFP Advisors Inc now owns 5,175 shares of the technology company’s stock worth $151,000 after purchasing an additional 469 shares during the period. Pacer Advisors Inc. lifted its position in shares of Twilio by 12.1% in the 2nd quarter. Pacer Advisors Inc. now owns 5,135 shares of the technology company’s stock worth $149,000 after purchasing an additional 555 shares during the period. Perigon Wealth Management LLC lifted its position in shares of Twilio by 4.7% in the 1st quarter. Perigon Wealth Management LLC now owns 15,325 shares of the technology company’s stock worth $442,000 after purchasing an additional 693 shares during the period. Finally, Marcus Capital LLC lifted its position in shares of Twilio by 1.5% in the 2nd quarter. Marcus Capital LLC now owns 116,700 shares of the technology company’s stock worth $3,397,000 after purchasing an additional 1,700 shares during the period. Hedge funds and other institutional investors own 84.25% of the company’s stock.

In related news, General Counsel Karyn Smith sold 5,381 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $31.40, for a total value of $168,963.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard L. Dalzell sold 2,500 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $31.18, for a total value of $77,950.00. The disclosure for this sale can be found here. Insiders sold 61,348 shares of company stock valued at $1,873,873 in the last ninety days.

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Twilio Inc. (TWLO) traded up 1.44% on Friday, hitting $30.94. 491,481 shares of the company were exchanged. The stock has a 50 day moving average of $30.80 and a 200 day moving average of $30.80. Twilio Inc. has a 52 week low of $25.98 and a 52 week high of $70.96. The company’s market capitalization is $2.84 billion.

Twilio (NYSE:TWLO) last announced its quarterly earnings results on Monday, August 7th. The technology company reported ($0.20) EPS for the quarter, hitting analysts’ consensus estimates of ($0.20). Twilio had a negative return on equity of 15.40% and a negative net margin of 13.42%. The company had revenue of $95.90 million during the quarter, compared to analyst estimates of $86.28 million. During the same quarter last year, the firm posted ($0.08) earnings per share. The firm’s revenue was up 48.7% on a year-over-year basis. Analysts predict that Twilio Inc. will post ($0.22) EPS for the current fiscal year.

TWLO has been the topic of a number of recent analyst reports. William Blair restated an “outperform” rating on shares of Twilio in a research report on Tuesday, September 5th. Northland Securities restated a “buy” rating and issued a $36.00 price target on shares of Twilio in a research report on Tuesday, September 12th. Robert W. Baird initiated coverage on shares of Twilio in a research report on Monday, July 10th. They issued an “outperform” rating and a $35.00 price target on the stock. Vetr upgraded shares of Twilio from a “buy” rating to a “strong-buy” rating and set a $34.50 price target on the stock in a research report on Wednesday, July 12th. Finally, Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $38.00 price target on shares of Twilio in a research report on Monday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Twilio presently has a consensus rating of “Buy” and an average price target of $37.50.

Twilio Company Profile

Twilio Inc offers Cloud Communications Platform, which enables developers to build, scale and operate real-time communications within software applications. The Company’s platform consists of Programmable Communications Cloud, Super Network and Business Model for Innovators. Its Programmable Communications Cloud software enables developers to embed voice, messaging, video and authentication capabilities into their applications through its Application Programming Interfaces (APIs).

Institutional Ownership by Quarter for Twilio (NYSE:TWLO)

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