Bank of Nova Scotia Increases Stock Holdings in Twilio Inc. (NYSE:TWLO)

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 boosted its position in Twilio Inc. (NYSE:TWLO - Free Report) by 502.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,341 shares of the technology company's stock after purchasing an additional 26,970 shares during the period. Bank of Nova Scotia's holdings in Twilio were worth $3,167,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of TWLO. Woodward Diversified Capital LLC lifted its position in shares of Twilio by 1.5% during the 1st quarter. Woodward Diversified Capital LLC now owns 7,163 shares of the technology company's stock valued at $701,000 after buying an additional 103 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Twilio by 6.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,213 shares of the technology company's stock valued at $239,000 after buying an additional 140 shares in the last quarter. Signaturefd LLC lifted its position in shares of Twilio by 4.9% during the 1st quarter. Signaturefd LLC now owns 3,560 shares of the technology company's stock valued at $349,000 after buying an additional 167 shares in the last quarter. Pallas Capital Advisors LLC lifted its position in shares of Twilio by 2.7% during the 1st quarter. Pallas Capital Advisors LLC now owns 6,591 shares of the technology company's stock valued at $645,000 after buying an additional 171 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in Twilio by 9.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 2,060 shares of the technology company's stock worth $202,000 after purchasing an additional 174 shares in the last quarter. 84.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Twilio

In other Twilio news, CFO Aidan Viggiano sold 8,297 shares of the stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $117.05, for a total value of $971,163.85. Following the completion of the sale, the chief financial officer directly owned 147,823 shares in the company, valued at approximately $17,302,682.15. This trade represents a 5.31% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 shares were sold at an average price of $120.03, for a total value of $492,123.00. Following the completion of the sale, the director owned 33,488 shares of the company's stock, valued at approximately $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. Over the last ninety days, insiders sold 55,888 shares of company stock worth $6,753,409. 4.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Jefferies Financial Group set a $132.00 price target on Twilio and gave the stock a "hold" rating in a report on Sunday, June 15th. The Goldman Sachs Group boosted their price target on Twilio from $130.00 to $145.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Mizuho lowered their price target on Twilio from $165.00 to $125.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Robert W. Baird lowered their price target on Twilio from $160.00 to $130.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Finally, UBS Group lowered their price target on Twilio from $175.00 to $150.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $127.22.

Twilio Trading Down 0.4%

Twilio stock opened at $124.84 on Wednesday. The stock has a 50-day moving average of $121.96 and a two-hundred day moving average of $114.25. The company has a debt-to-equity ratio of 0.12, a quick ratio of 4.78 and a current ratio of 4.78. Twilio Inc. has a one year low of $56.85 and a one year high of $151.95. The stock has a market cap of $19.06 billion, a PE ratio of -594.48, a price-to-earnings-growth ratio of 3.79 and a beta of 1.23.

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.

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