Empower Advisory Group LLC Trims Position in Twilio Inc. (NYSE:TWLO)

Key Points

• Empower Advisory Group LLC reduced its stake in Twilio Inc. by 48.6% during the first quarter, holding 13,059 shares valued at approximately $1.28 million after the sale.
• A number of hedge funds, including Brighton Jones LLC and Wellington Management Group LLP, have recently increased their holdings in Twilio, demonstrating ongoing institutional interest with 84.27% of the stock owned by institutional investors.
• Analyst price targets for Twilio have varied, with UBS Group lowering its target from $175.00 to $150.00 while other firms like Scotiabank set their targets higher, reflecting mixed market expectations for the stock.

Empower Advisory Group LLC lessened its stake in shares of Twilio Inc. (NYSE:TWLO - Free Report) by 48.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,059 shares of the technology company's stock after selling 12,340 shares during the quarter. Empower Advisory Group LLC's holdings in Twilio were worth $1,279,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TWLO. Brighton Jones LLC grew its holdings in Twilio by 6.6% during the 4th quarter. Brighton Jones LLC now owns 10,051 shares of the technology company's stock valued at $1,086,000 after buying an additional 623 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of 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 purchasing an additional 685 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Twilio by 1.8% during the fourth quarter. Alliancebernstein L.P. now owns 137,427 shares of the technology company's stock worth $14,853,000 after purchasing an additional 2,474 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new position in shares of Twilio during the fourth quarter worth about $4,834,000. Finally, Wedbush Securities Inc. purchased a new position in shares of Twilio during the fourth quarter worth about $273,000. Hedge funds and other institutional investors own 84.27% of the company's stock.

Twilio Stock Performance

Shares of TWLO stock opened at $130.44 on Thursday. 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 fifty-two week low of $56.85 and a fifty-two week high of $151.95. The stock has a 50 day moving average price of $122.21 and a two-hundred day moving average price of $114.36. The company has a market capitalization of $19.91 billion, a P/E ratio of -621.12, a PEG ratio of 3.77 and a beta of 1.23.

Analysts Set New Price Targets

TWLO has been the subject of several recent analyst reports. UBS Group cut their price objective on Twilio from $175.00 to $150.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Scotiabank boosted their price objective on Twilio from $130.00 to $135.00 and gave the stock a "sector outperform" rating in a report on Friday, May 2nd. KeyCorp initiated coverage on Twilio in a report on Friday, June 6th. They set an "overweight" rating and a $146.00 price objective for the company. Morgan Stanley cut their price objective on Twilio from $160.00 to $111.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, Robert W. Baird cut their price objective on Twilio from $160.00 to $130.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Twilio has a consensus rating of "Moderate Buy" and an average price target of $127.22.

Insider Buying and Selling at Twilio

In related news, CEO Khozema Shipchandler sold 13,595 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $117.06, for a total transaction of $1,591,430.70. Following the completion of the transaction, the chief executive officer owned 246,986 shares in the company, valued at $28,912,181.16. This represents a 5.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Aidan Viggiano sold 8,297 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $117.05, for a total value of $971,163.85. Following the transaction, the chief financial officer owned 147,823 shares of the company's stock, valued at approximately $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 worth $6,753,409. 0.21% of the stock is currently owned by insiders.

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.

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