The Manufacturers Life Insurance Company reduced its stake in Twilio Inc. (NYSE:TWLO) by 13% during the fourth quarter, as revealed in its recent 13F filing with the Securities and Exchange Commission. The institutional investor held 37,602 shares of the technology company’s stock after selling 5,635 shares during the quarter. The value of The Manufacturers Life Insurance Company’s Twilio holdings stood at $4,064,000 at the end of the quarter.
Other institutional investors have also adjusted their Twilio stakes. Ritholtz Wealth Management initiated a new position in Twilio shares valued at $344,000 during the fourth quarter. Bleakley Financial Group LLC also established a new position worth approximately $230,000. Aigen Investment Management LP increased its Twilio stake by 81.6%, now owning 11,546 shares valued at $1,248,000. Highland Capital Management LLC and Moloney Securities Asset Management LLC also acquired new stakes in Twilio, worth $912,000 and $860,000, respectively.
Currently, 84.27% of Twilio’s stock is held by hedge funds and other institutional investors. In related news, Twilio CEO Khozema Shipchandler sold 12,056 shares on March 31st at an average price of $95.88, totaling $1,155,929.28. Following the sale, the CEO owns 295,134 shares valued at $28,297,447.92. CFO Aidan Viggiano also sold 1,391 shares on February 18th at $124.51 per share, worth $173,193.41. In the last 90 days, insiders have sold 23,471 shares worth $2,344,149.
Twilio’s stock opened at $105.14 on Friday. The company’s 50-day simple moving average is $96.16, and its 200-day simple moving average is $105.78. Twilio has a debt-to-equity ratio of 0.12, a current ratio of 5.06, and a quick ratio of 5.06. The stock’s market capitalization is $16.05 billion, with a price-to-earnings ratio of -164.28 and a beta of 1.44.
In its latest quarterly earnings report released on May 1st, Twilio reported $1.14 earnings per share (EPS), surpassing analysts’ consensus estimates of $0.92 by $0.22. The company had revenue of $1.17 billion, compared to the consensus estimate of $1.14 billion. On a year-over-year basis, Twilio’s revenue increased by 12.0%.
Analysts expect Twilio to post 1.44 EPS for the current fiscal year. Several analysts have recently commented on Twilio. Barclays raised its price target from $120.00 to $140.00 with an ‘equal weight’ rating. Needham & Company LLC and Robert W. Baird adjusted their price targets to $125.00 and $130.00, respectively, with ‘buy’ and ‘outperform’ ratings. The company currently has a consensus rating of ‘Moderate Buy’ with an average price target of $124.41.
