Connor Clark & Lunn Investment Management Ltd. Takes Position in Twilio Inc. (NYSE:TWLO)

Key Points

• Connor Clark & Lunn Investment Management Ltd. acquired 86,147 shares of Twilio Inc. valued at approximately $8.4 million, representing about 0.06% ownership of the company.
• Several other hedge funds increased their stakes in Twilio, contributing to a total of 84.27% of the stock being owned by institutional investors.
• Twilio's latest earnings report showed EPS of $1.19, which exceeded analysts' expectations, with revenue growth of 13.5% year-over-year.

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Twilio Inc. (NYSE:TWLO - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 86,147 shares of the technology company's stock, valued at approximately $8,435,000. Connor Clark & Lunn Investment Management Ltd. owned 0.06% of Twilio at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Brighton Jones LLC lifted its holdings in Twilio by 6.6% during the fourth quarter. Brighton Jones LLC now owns 10,051 shares of the technology company's stock worth $1,086,000 after buying an additional 623 shares during the period. Wellington Management Group LLP lifted its holdings in Twilio by 13.0% during the fourth quarter. Wellington Management Group LLP now owns 5,937 shares of the technology company's stock worth $642,000 after buying an additional 685 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Twilio by 101.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 46,993 shares of the technology company's stock worth $5,079,000 after buying an additional 23,608 shares during the period. Invesco Ltd. lifted its holdings in Twilio by 38.5% during the fourth quarter. Invesco Ltd. now owns 501,326 shares of the technology company's stock worth $54,183,000 after buying an additional 139,384 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Twilio during the fourth quarter worth $25,778,000. Hedge funds and other institutional investors own 84.27% of the company's stock.

Twilio Price Performance

Shares of TWLO stock traded up $4.94 during mid-day trading on Friday, hitting $105.78. 10,050,820 shares of the stock were exchanged, compared to its average volume of 4,061,799. The firm has a fifty day moving average of $119.85 and a 200 day moving average of $113.28. The company has a quick ratio of 4.78, a current ratio of 4.90 and a debt-to-equity ratio of 0.12. Twilio Inc. has a 52-week low of $56.85 and a 52-week high of $151.95. The company has a market cap of $16.15 billion, a PE ratio of 881.57, a price-to-earnings-growth ratio of 3.22 and a beta of 1.23.

Twilio (NYSE:TWLO - Get Free Report) last posted its earnings results on Thursday, August 7th. The technology company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.17. Twilio had a net margin of 0.43% and a return on equity of 2.78%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the company posted $0.87 EPS. The company's revenue for the quarter was up 13.5% on a year-over-year basis. Research analysts anticipate that Twilio Inc. will post 1.44 earnings per share for the current year.

Insider Transactions at Twilio

In related news, CFO Aidan Viggiano sold 8,297 shares of Twilio 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 sale, the chief financial officer directly owned 147,823 shares in the company, valued at approximately $17,302,682.15. The trade was a 5.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Erika Rottenberg sold 4,100 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $120.03, for a total transaction of $492,123.00. Following the completion of the transaction, the director directly 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 a total of 53,964 shares of company stock valued at $6,536,478 in the last ninety days. 0.21% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TWLO has been the subject of a number of analyst reports. Wells Fargo & Company lowered their target price on Twilio from $160.00 to $120.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Wall Street Zen lowered Twilio from a "strong-buy" rating to a "buy" rating in a report on Friday, May 30th. Jefferies Financial Group set a $132.00 price target on Twilio and gave the stock a "hold" rating in a research report on Sunday, June 15th. Robert W. Baird reduced their price target on Twilio from $160.00 to $130.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Finally, Scotiabank upped their price target on Twilio from $130.00 to $135.00 and gave the stock a "sector outperform" rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Twilio presently has a consensus rating of "Moderate Buy" and a consensus target price of $126.74.

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.