SAN FRANCISCO—Dana Wagner, the Chief Legal Officer and Secretary at Twilio Inc. (NYSE:TWLO), recently sold a portion of the company's Class A common stock. According to a filing with the Securities and Exchange Commission, Wagner sold shares totaling $455,929 on December 31, 2024. The transaction comes as Twilio trades near its 52-week high of $116.43, having delivered an impressive 93% return over the past six months. According to InvestingPro analysis, the company maintains a GOOD financial health score. The sales were executed at a price range of $107.3181 to $107.74 per share.
The transactions involved the sale of 4,248 shares, which were primarily conducted to cover statutory tax withholding obligations related to the vesting of Restricted Stock Units (RSUs). This type of sale is part of Twilio's equity incentive plans and is not considered a discretionary sale by Wagner. While executives manage their equity positions, InvestingPro data shows management has been actively buying back shares, demonstrating confidence in the company's future.
Following these transactions, Wagner retains ownership of 32,590 shares of Twilio's Class A common stock. The report also notes that Wagner's resignation from the company was effective January 1, 2025, which led to the forfeiture of some RSUs. With a market capitalization of $17.28 billion, Twilio currently trades below its InvestingPro Fair Value, suggesting potential upside opportunity. Discover 12 additional exclusive insights about Twilio with an InvestingPro subscription.
In other recent news, Twilio Inc. reported a 10% year-over-year increase in Q3 2024 revenue, reaching $1.13 billion, with a non-GAAP income from operations rising to a record $182 million. The company's Communications revenue contributed $1.06 billion. In addition to financial success, Twilio announced the public beta release of Linked Audiences for Amazon (NASDAQ:AMZN) Redshift, which has contributed to a 35% year-over-year increase in Twilio Segment's growth in the AWS Marketplace.
Regarding personnel changes, Dana Wagner, the Chief Legal Officer and Corporate Secretary, has decided to resign, continuing his role until January 1, 2025, with no successor named yet. In the realm of stock analysis, Baird raised its price target for Twilio shares to $115, maintaining a Neutral rating, while both Tigress Financial Partners and Monness, Crespi, Hardt upgraded Twilio's stock to Buy, setting a new price target of $135.
For Q4 and fiscal 2025, Twilio projects a revenue growth of 7% to 8% and expects significant non-GAAP operating margin expansion. The company has completed over $2.7 billion in aggregate repurchases as part of its $3 billion share repurchase authorization. These are some of the recent developments for Twilio.
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