SAN FRANCISCO—Aidan Viggiano, Chief Financial Officer of Twilio Inc. (NYSE:TWLO), disclosed the sale of 6,832 shares of the company's Class A common stock, according to a recent filing with the Securities and Exchange Commission. The shares were sold at an average price of $107.1627, generating a total of approximately $732,135. The stock has shown remarkable strength, surging 93% over the past six months, and currently trades at $113.09, near its 52-week high of $116.43.
The transaction was executed on December 31, 2024, and was conducted to cover statutory tax withholding obligations related to the vesting of Restricted Stock Units (RSUs). Following this sale, Viggiano retains direct ownership of 160,462 shares, which include RSUs that confer the right to receive an equivalent number of shares of Twilio's Class A common stock.
The sale was part of a "sell-to-cover" transaction, mandated by Twilio's equity incentive plans, and was not a discretionary move by Viggiano. The weighted average sale price ranged from $106.8550 to $107.74 per share.
In other recent news, Twilio has reported a 10% year-over-year increase in Q3 2024 revenue, reaching $1.13 billion. The company's non-GAAP income from operations rose to a record $182 million, with Communications revenue contributing $1.06 billion. Twilio's emphasis on integrating artificial intelligence and machine learning across its platform has been instrumental in enhancing its product offerings. The company announced the resignation of Dana Wagner, the Chief Legal Officer and Corporate Secretary, who will continue his role until January 1, 2025, to assist with the transition. Twilio has also announced the public beta release of Linked Audiences for Amazon (NASDAQ:AMZN) Redshift, a feature designed to enhance customer engagement by enabling users to build dynamic audiences and enrich customer profiles. Analysts from Baird, Tigress Financial Partners, and Monness, Crespi, Hardt have updated their assessments of Twilio. Baird raised its price target for Twilio shares to $115, maintaining a Neutral rating. Both Tigress Financial Partners and Monness, Crespi, Hardt upgraded Twilio's stock to Buy, setting a new price target of $135. Twilio projects a revenue growth of 7% to 8% for Q4 and fiscal 2025, and expects significant non-GAAP operating margin expansion in 2025.
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