Empower Advisory Group LLC Has $1.28 Million 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 holdings in shares of Twilio Inc. (NYSE:TWLO - Free Report) by 48.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,059 shares of the technology company's stock after selling 12,340 shares during the period. Empower Advisory Group LLC's holdings in Twilio were worth $1,279,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Thoroughbred Financial Services LLC grew its position in Twilio by 118.0% during the 1st quarter. Thoroughbred Financial Services LLC now owns 13,518 shares of the technology company's stock worth $1,323,000 after purchasing an additional 7,318 shares in the last quarter. Westfield Capital Management Co. LP grew its position in Twilio by 13.5% during the 1st quarter. Westfield Capital Management Co. LP now owns 818,964 shares of the technology company's stock worth $80,185,000 after purchasing an additional 97,337 shares in the last quarter. J. Safra Sarasin Holding AG grew its position in Twilio by 50.6% during the 1st quarter. J. Safra Sarasin Holding AG now owns 26,404 shares of the technology company's stock worth $2,585,000 after purchasing an additional 8,866 shares in the last quarter. Bank of Nova Scotia grew its position in Twilio by 502.1% during the 1st quarter. Bank of Nova Scotia now owns 32,341 shares of the technology company's stock worth $3,167,000 after purchasing an additional 26,970 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Twilio by 8.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 11,322 shares of the technology company's stock worth $1,109,000 after purchasing an additional 892 shares in the last quarter. Institutional investors own 84.27% of the company's stock.

Insiders Place Their Bets

In other news, CEO Khozema Shipchandler sold 13,595 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $117.06, for a total transaction of $1,591,430.70. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Aidan Viggiano sold 8,297 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $117.05, for a total transaction of $971,163.85. Following the transaction, the chief financial officer owned 147,823 shares in the company, valued at $17,302,682.15. The trade was a 5.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,888 shares of company stock valued at $6,753,409. 4.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TWLO has been the topic of several research analyst reports. JMP Securities restated a "market outperform" rating and set a $165.00 price target on shares of Twilio in a report on Tuesday, April 29th. Wall Street Zen cut shares of Twilio from a "strong-buy" rating to a "buy" rating in a report on Friday, May 30th. Tigress Financial reaffirmed a "buy" rating and issued a $170.00 price objective on shares of Twilio in a research note on Thursday, May 8th. Mizuho reduced their price objective on shares of Twilio from $165.00 to $125.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Finally, KeyCorp started coverage on shares of Twilio in a research report on Friday, June 6th. They set an "overweight" rating and a $146.00 target price for the company. One equities 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 given a strong buy rating to the company's stock. According to MarketBeat, Twilio presently has a consensus rating of "Moderate Buy" and a consensus target price of $126.74.

Twilio Price Performance

Twilio stock traded down $2.74 during trading hours on Monday, hitting $95.93. 2,357,602 shares of the stock were exchanged, compared to its average volume of 2,966,428. The company has a debt-to-equity ratio of 0.12, a quick ratio of 4.78 and a current ratio of 4.78. The stock has a market capitalization of $14.65 billion, a P/E ratio of 799.52, a P/E/G ratio of 2.98 and a beta of 1.23. Twilio Inc. has a 12 month low of $56.85 and a 12 month high of $151.95. The business's 50-day moving average is $121.93 and its two-hundred day moving average is $114.35.

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

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.