Bank of America Corp DE Has $14.14 Million Holdings in Twilio Inc. (NYSE:TWLO)

Bank of America Corp DE cut its holdings in shares of Twilio Inc. (NYSE:TWLO - Free Report) by 79.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 130,867 shares of the technology company's stock after selling 499,471 shares during the quarter. Bank of America Corp DE owned 0.09% of Twilio worth $14,144,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership raised its position in shares of Twilio by 718.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,262,765 shares of the technology company's stock worth $352,640,000 after purchasing an additional 2,864,235 shares during the last quarter. Jericho Capital Asset Management L.P. bought a new position in shares of Twilio during the 4th quarter valued at about $301,258,000. Norges Bank bought a new stake in Twilio in the 4th quarter worth approximately $222,146,000. Altimeter Capital Management LP bought a new stake in Twilio in the fourth quarter worth $63,001,000. Finally, Renaissance Technologies LLC purchased a new position in Twilio in the fourth quarter worth about $62,999,000. 84.27% of the stock is currently owned by hedge funds and other institutional investors.

Twilio Stock Down 1.9%

Shares of NYSE:TWLO traded down $2.17 during midday trading on Friday, reaching $113.71. 1,957,920 shares of the company were exchanged, compared to its average volume of 2,684,779. The firm has a market cap of $17.36 billion, a PE ratio of -177.67, a P/E/G ratio of 4.30 and a beta of 1.44. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.12. Twilio Inc. has a fifty-two week low of $52.51 and a fifty-two week high of $151.95. The stock has a fifty day simple moving average of $98.42 and a two-hundred day simple moving average of $108.65.

Twilio (NYSE:TWLO - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.22. The business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.14 billion. Twilio had a negative net margin of 2.45% and a positive return on equity of 1.38%. The business's revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.80 EPS. As a group, sell-side analysts forecast that Twilio Inc. will post 1.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TWLO shares. Barclays upped their price objective on shares of Twilio from $120.00 to $140.00 and gave the stock an "equal weight" rating in a research note on Friday, February 14th. JMP Securities reissued a "market outperform" rating and set a $165.00 price objective on shares of Twilio in a report on Tuesday, April 29th. Baird R W raised shares of Twilio from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 24th. Piper Sandler increased their price target on Twilio from $106.00 to $121.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Finally, William Blair reiterated an "outperform" rating on shares of Twilio in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $124.41.

Insider Activity at Twilio

In other Twilio news, CEO Khozema Shipchandler sold 12,056 shares of Twilio stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 295,134 shares of the company's stock, valued at $28,297,447.92. The trade was a 3.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Aidan Viggiano sold 7,524 shares of the business's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $95.88, for a total transaction of $721,401.12. Following the completion of the sale, the chief financial officer now owns 176,640 shares of the company's stock, valued at approximately $16,936,243.20. The trade was a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,784 shares of company stock valued at $4,226,942. 0.21% of the stock is owned by company insiders.

Twilio Profile

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.