Wolfe notes there is no change in Amazon’s Twilio position since 2020 proxy

Wolfe Research analyst Alex Zukin reiterated an Outperform rating and $65 price target on Twilio (TWLO) after Amazon (AMZN) noted an ownership stake of 1.8M shares of Twilio Class A stock. The firm highlighted that there is no change in Amazon’s ownership positions since it was first disclosed in 2020, and that regulations require ownership positions of Class A stock exceeding $100M in value has to be disclosed in 13F filings. While this is not as exciting as Amazon acquiring a new position, it doesn’t detract from the original and underlying point that Amazon has and continues to be involved in Twilio, the analyst tells investors in a research note.