Empirical Financial Services LLC d.b.a. Empirical Wealth Management Sells 2,222 Shares of Twilio Inc. (NYSE:TWLO)

Key Points

• Empirical Financial Services LLC decreased its holdings in Twilio Inc. by 17.6%, selling 2,222 shares and now owns a total of 10,413 shares valued at approximately $1,020,000.
• Research analysts have mixed ratings for Twilio, with one sell rating, seven hold ratings, seventeen buy ratings, and one strong buy rating, leading to a consensus rating of "Moderate Buy".
• Twilio's recent quarterly earnings showed a 12.0% year-over-year revenue increase to $1.17 billion, despite reporting an earnings per share of $1.14 that surpassed analyst estimates.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management cut its holdings in shares of Twilio Inc. (NYSE:TWLO - Free Report) by 17.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,413 shares of the technology company's stock after selling 2,222 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Twilio were worth $1,020,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Jericho Capital Asset Management L.P. purchased a new position in shares of Twilio during the 4th quarter valued at about $301,258,000. Two Sigma Investments LP grew its stake in shares of Twilio by 1,292.9% in the 4th quarter. Two Sigma Investments LP now owns 1,129,725 shares of the technology company's stock worth $122,101,000 after buying an additional 1,048,619 shares in the last quarter. Whale Rock Capital Management LLC bought a new stake in Twilio during the fourth quarter worth approximately $111,312,000. Two Sigma Advisers LP raised its holdings in Twilio by 683.0% during the 4th quarter. Two Sigma Advisers LP now owns 935,697 shares of the technology company's stock valued at $101,130,000 after buying an additional 816,197 shares during the period. Finally, KBC Group NV lifted 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 worth $92,583,000 after acquiring an additional 664,420 shares during the last quarter. 84.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on TWLO shares. Morgan Stanley cut their price target on shares of Twilio from $160.00 to $111.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Jefferies Financial Group set a $132.00 target price on Twilio and gave the stock a "hold" rating in a research note on Sunday, June 15th. The Goldman Sachs Group raised their price target on shares of Twilio from $130.00 to $145.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. JMP Securities restated a "market outperform" rating and issued a $165.00 price objective on shares of Twilio in a research note on Tuesday, April 29th. Finally, Scotiabank lifted their target price on shares of Twilio from $130.00 to $135.00 and gave the company a "sector outperform" rating 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 given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $127.22.

Twilio Trading Down 6.1%

NYSE:TWLO opened at $121.14 on Friday. Twilio Inc. has a 12 month low of $56.85 and a 12 month high of $151.95. The stock has a market capitalization of $18.49 billion, a price-to-earnings ratio of -576.86, a PEG ratio of 4.01 and a beta of 1.23. The firm has a fifty day simple moving average of $121.57 and a two-hundred day simple moving average of $114.07. The company has a current ratio of 4.78, a quick ratio of 4.78 and a debt-to-equity ratio of 0.12.

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

Insider Transactions at Twilio

In other Twilio news, CEO Khozema Shipchandler sold 13,595 shares of Twilio stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $117.06, for a total value of $1,591,430.70. Following the sale, the chief executive officer owned 246,986 shares of the company's stock, valued at approximately $28,912,181.16. The trade was a 5.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Aidan Viggiano sold 8,297 shares of the stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $117.05, for a total transaction of $971,163.85. Following 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 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 in the last ninety days. Company insiders own 0.21% of the company's stock.

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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