Twilio Inc. (NYSE:TWLO) Shares Acquired by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia increased its holdings in Twilio Inc. by 502.1% in the 1st quarter, owning 32,341 shares valued at approximately $3.17 million.
• Insider selling was reported, with CFO Aidan Viggiano selling 8,297 shares worth about $971,163.85, resulting in a 5.31% decrease in ownership.
• Wall Street analysts have varied opinions on Twilio, setting price targets between $125.00 and $145.00, with a consensus rating of "Moderate Buy."

Bank of Nova Scotia lifted its holdings in shares of Twilio Inc. (NYSE:TWLO - Free Report) by 502.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,341 shares of the technology company's stock after buying an additional 26,970 shares during the period. Bank of Nova Scotia's holdings in Twilio were worth $3,167,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Jericho Capital Asset Management L.P. purchased a new position in Twilio in the fourth quarter worth $301,258,000. Two Sigma Investments LP boosted its position in shares of Twilio by 1,292.9% during the 4th quarter. Two Sigma Investments LP now owns 1,129,725 shares of the technology company's stock worth $122,101,000 after purchasing an additional 1,048,619 shares in the last quarter. Whale Rock Capital Management LLC acquired a new position in shares of Twilio during the 4th quarter worth $111,312,000. Two Sigma Advisers LP increased its holdings in shares of Twilio by 683.0% in the 4th quarter. Two Sigma Advisers LP now owns 935,697 shares of the technology company's stock valued at $101,130,000 after purchasing an additional 816,197 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of Twilio by 236.3% in the 1st quarter. KBC Group NV now owns 945,594 shares of the technology company's stock valued at $92,583,000 after purchasing an additional 664,420 shares in the last quarter. 84.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Twilio

In related news, CEO Khozema Shipchandler sold 13,595 shares of the company's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $117.06, for a total value of $1,591,430.70. Following the completion of the transaction, the chief executive officer directly owned 246,986 shares in the company, valued at approximately $28,912,181.16. This represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Erika Rottenberg sold 4,100 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $120.03, for a total value of $492,123.00. Following the transaction, the director owned 33,488 shares in the company, valued at $4,019,564.64. This trade represents a 10.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,888 shares of company stock worth $6,753,409 over the last quarter. 0.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Robert W. Baird decreased their price objective on shares of Twilio from $160.00 to $130.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Wells Fargo & Company reduced their price target on shares of Twilio from $160.00 to $120.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Scotiabank upped their price target on Twilio from $130.00 to $135.00 and gave the stock a "sector outperform" rating in a report on Friday, May 2nd. Jefferies Financial Group set a $132.00 price objective on Twilio and gave the company a "hold" rating in a research note on Sunday, June 15th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $125.00 price objective on shares of Twilio in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $126.74.

Twilio Trading Down 19.4%

Shares of NYSE TWLO traded down $23.80 during midday trading on Friday, reaching $98.59. 17,647,410 shares of the stock were exchanged, compared to its average volume of 2,905,888. The stock has a 50 day moving average price of $121.93 and a 200-day moving average price of $114.34. The company has a current ratio of 4.78, a quick ratio of 4.78 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $15.05 billion, a P/E ratio of 821.65, a P/E/G ratio of 2.98 and a beta of 1.23. Twilio Inc. has a 52-week low of $56.85 and a 52-week high of $151.95.

Twilio (NYSE:TWLO - Get Free Report) last announced its earnings results on Thursday, August 7th. The technology company reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.02 by $0.17. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.19 billion. Twilio had a net margin of 0.43% and a return on equity of 2.77%. Twilio's revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.87 earnings per share. Equities research analysts expect that Twilio Inc. will post 1.44 earnings per share 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.