Los Angeles Capital Management LLC Sells 370,262 Shares of Twilio Inc. (NYSE:TWLO)

Los Angeles Capital Management LLC decreased its holdings in shares of Twilio Inc. (NYSE:TWLO - Free Report) by 81.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,173 shares of the technology company's stock after selling 370,262 shares during the quarter. Los Angeles Capital Management LLC owned 0.06% of Twilio worth $8,241,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Concurrent Investment Advisors LLC grew its holdings in shares of Twilio by 211.8% during the first quarter. Concurrent Investment Advisors LLC now owns 5,878 shares of the technology company's stock valued at $575,000 after buying an additional 3,993 shares in the last quarter. Horizon Financial Services LLC boosted its position in Twilio by 9,692.0% during the first quarter. Horizon Financial Services LLC now owns 2,448 shares of the technology company's stock valued at $240,000 after purchasing an additional 2,423 shares during the last quarter. Alpha Cubed Investments LLC boosted its position in Twilio by 53.7% during the first quarter. Alpha Cubed Investments LLC now owns 16,866 shares of the technology company's stock valued at $1,651,000 after purchasing an additional 5,896 shares during the last quarter. OneDigital Investment Advisors LLC acquired a new stake in Twilio during the first quarter valued at $294,000. Finally, QRG Capital Management Inc. boosted its position in Twilio by 198.2% during the first quarter. QRG Capital Management Inc. now owns 8,077 shares of the technology company's stock valued at $791,000 after purchasing an additional 5,368 shares during the last quarter. Hedge funds and other institutional investors own 84.27% of the company's stock.

Insider Activity at Twilio

In related news, CFO Aidan Viggiano sold 8,297 shares of the business's stock in a transaction dated 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 directly 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Khozema Shipchandler sold 20,008 shares of the business's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $124.53, for a total value of $2,491,596.24. Following the transaction, the chief executive officer owned 260,581 shares in the company, valued at $32,450,151.93. This represents a 7.13% 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 over the last three months. Company insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on TWLO shares. Scotiabank lifted their price objective on Twilio from $130.00 to $135.00 and gave the company a "sector outperform" rating in a research report on Friday, May 2nd. Needham & Company LLC reissued a "buy" rating and set a $125.00 price objective on shares of Twilio in a research report on Friday, May 16th. Piper Sandler set a $140.00 price objective on Twilio and gave the company an "overweight" rating in a research report on Monday, July 14th. JMP Securities reaffirmed a "market outperform" rating and issued a $165.00 price target on shares of Twilio in a research report on Tuesday, April 29th. Finally, Wall Street Zen cut Twilio from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 30th. One 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.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $127.22.

Twilio Stock Performance

Shares of NYSE TWLO traded up $0.90 during trading hours on Friday, hitting $132.57. 524,949 shares of the company's stock were exchanged, compared to its average volume of 2,874,107. Twilio Inc. has a 1-year low of $56.16 and a 1-year high of $151.95. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.78 and a quick ratio of 4.78. The stock has a market capitalization of $20.24 billion, a price-to-earnings ratio of -631.64, a PEG ratio of 4.13 and a beta of 1.30. The company's 50-day moving average price is $119.97 and its 200-day moving average price is $113.26.

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

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.