Jericho Capital Asset Management L.P. Takes $301.26 Million Position in Twilio Inc. (NYSE:TWLO)

Jericho Capital Asset Management L.P. bought a new stake in shares of Twilio Inc. (NYSE:TWLO - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,787,363 shares of the technology company's stock, valued at approximately $301,258,000. Twilio accounts for 4.3% of Jericho Capital Asset Management L.P.'s portfolio, making the stock its 10th biggest holding. Jericho Capital Asset Management L.P. owned 1.82% of Twilio as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Ritholtz Wealth Management bought a new stake in shares of Twilio in the 4th quarter worth approximately $344,000. Bleakley Financial Group LLC purchased a new stake in shares of Twilio during the 4th quarter valued at about $230,000. Aigen Investment Management LP raised its position in Twilio by 81.6% in the fourth quarter. Aigen Investment Management LP now owns 11,546 shares of the technology company's stock worth $1,248,000 after acquiring an additional 5,188 shares during the period. Highland Capital Management LLC purchased a new position in Twilio during the fourth quarter valued at $912,000. Finally, Moloney Securities Asset Management LLC purchased a new stake in Twilio in the 4th quarter worth approximately $860,000. 84.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TWLO shares. Mizuho dropped their price target on Twilio from $165.00 to $125.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Oppenheimer lifted their price objective on shares of Twilio from $90.00 to $160.00 and gave the stock an "outperform" rating in a research note on Friday, January 24th. Scotiabank lowered their target price on shares of Twilio from $160.00 to $130.00 and set a "sector outperform" rating for the company in a report on Thursday, April 24th. Baird R W upgraded shares of Twilio from a "hold" rating to a "strong-buy" rating in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Twilio from $83.00 to $130.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Twilio has an average rating of "Moderate Buy" and an average target price of $124.65.

Twilio Stock Performance

Twilio stock traded up $1.17 during trading hours on Thursday, hitting $97.88. 5,006,524 shares of the stock traded hands, compared to its average volume of 2,671,949. The firm's 50 day moving average price is $97.67 and its 200-day moving average price is $104.67. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.06 and a quick ratio of 5.06. The stock has a market capitalization of $14.94 billion, a price-to-earnings ratio of -152.93, a P/E/G ratio of 4.30 and a beta of 1.50. Twilio Inc. has a 1 year low of $52.51 and a 1 year high of $151.95.

Twilio (NYSE:TWLO - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The technology company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.77). Twilio had a positive return on equity of 1.38% and a negative net margin of 2.45%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. As a group, equities analysts expect that Twilio Inc. will post 1.44 EPS for the current fiscal year.

Insider Buying and Selling at Twilio

In related news, CFO Aidan Viggiano sold 7,524 shares of Twilio stock in a transaction on Monday, March 31st. The shares were sold at an average price of $95.88, for a total value of $721,401.12. Following the sale, the chief financial officer now owns 176,640 shares of the company's stock, valued at approximately $16,936,243.20. This trade represents a 4.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Khozema Shipchandler sold 12,056 shares of the company's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $95.88, for a total transaction of $1,155,929.28. Following the transaction, the chief executive officer now owns 295,134 shares of the company's stock, valued at $28,297,447.92. This represents a 3.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,471 shares of company stock valued at $2,344,149. 4.50% of the stock is owned by insiders.

About Twilio

Twilio Inc, together with its subsidiaries, provides customer engagement platform solutions in the United States and internationally. It operates through two segments, Twilio Communications and Twilio Segment. The company provides various application programming interfaces and software solutions for communications between customers and end users, including messaging, voice, email, flex, marketing campaigns, and user identity and authentication.