Bank of New York Mellon Corp Decreases Position in Twilio Inc. (NYSE:TWLO)

Bank of New York Mellon Corp trimmed its position in shares of Twilio Inc. (NYSE:TWLO - Free Report) by 15.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 854,756 shares of the technology company's stock after selling 154,272 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.56% of Twilio worth $83,689,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership raised its holdings in shares of Twilio by 718.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,262,765 shares of the technology company's stock worth $352,640,000 after acquiring an additional 2,864,235 shares during the last quarter. Jericho Capital Asset Management L.P. acquired a new position in Twilio in the fourth quarter valued at $301,258,000. Norges Bank acquired a new position in Twilio in the fourth quarter valued at $222,146,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Twilio by 26.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,602,428 shares of the technology company's stock valued at $173,190,000 after purchasing an additional 331,202 shares during the last quarter. Finally, Two Sigma Investments LP increased its stake in Twilio by 1,292.9% in the fourth quarter. Two Sigma Investments LP now owns 1,129,725 shares of the technology company's stock valued at $122,101,000 after purchasing an additional 1,048,619 shares during the last quarter. 84.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Twilio

In related news, CEO Khozema Shipchandler sold 20,008 shares of the stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $124.53, for a total value of $2,491,596.24. Following the completion of the transaction, the chief executive officer owned 260,581 shares of the company's stock, valued at approximately $32,450,151.93. This represents a 7.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Aidan Viggiano sold 8,297 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $117.05, for a total value of $971,163.85. Following the completion of the transaction, the chief financial officer directly owned 147,823 shares of the company's stock, valued at $17,302,682.15. This represents a 5.31% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,888 shares of company stock valued at $6,753,409. Insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Mizuho dropped their target price on Twilio from $165.00 to $125.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Royal Bank Of Canada reiterated an "underperform" rating and issued a $75.00 target price on shares of Twilio in a research note on Wednesday, March 19th. Robert W. Baird dropped their target price on Twilio from $160.00 to $130.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. The Goldman Sachs Group upped their target price on Twilio from $130.00 to $145.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Finally, Jefferies Financial Group set a $132.00 target price on Twilio and gave the company a "hold" rating in a research note on Sunday, June 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $126.39.

Twilio Price Performance

Shares of NYSE TWLO opened at $117.34 on Friday. Twilio Inc. has a 1-year low of $56.16 and a 1-year high of $151.95. The business has a 50-day moving average of $116.14 and a 200-day moving average of $112.15. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.78 and a quick ratio of 4.78. The company has a market capitalization of $17.91 billion, a price-to-earnings ratio of -558.76, a PEG ratio of 3.78 and a beta of 1.30.

Twilio (NYSE:TWLO - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $1.14 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.22. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.14 billion. Twilio had a positive return on equity of 2.25% and a negative net margin of 0.74%. Twilio's revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.80 earnings per share. On average, equities analysts anticipate that Twilio Inc. will post 1.44 EPS for the current fiscal year.

Twilio Company 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.

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