State of New Jersey Common Pension Fund D Trims Position in Twilio Inc. $TWLO

Key Points

• The State of New Jersey Common Pension Fund D has reduced its holdings in Twilio Inc. by 12.5%, now owning 50,190 shares worth approximately $4.9 million.
• Insider transactions included Director Erika Rottenberg selling 4,100 shares for about $492,123, representing a 10.91% decrease in her position.
• Twilio's revenues were up 13.5% year-over-year, reporting $1.23 billion for the latest quarter, with an EPS of $1.19, surpassing analyst expectations.

State of New Jersey Common Pension Fund D reduced its holdings in Twilio Inc. (NYSE:TWLO - Free Report) by 12.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,190 shares of the technology company's stock after selling 7,164 shares during the period. State of New Jersey Common Pension Fund D's holdings in Twilio were worth $4,914,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Nations Financial Group Inc. IA ADV lifted its position in Twilio by 1.4% during the first quarter. Nations Financial Group Inc. IA ADV now owns 8,430 shares of the technology company's stock valued at $825,000 after purchasing an additional 114 shares during the period. American Century Companies Inc. lifted its holdings in shares of Twilio by 19.0% in the 1st quarter. American Century Companies Inc. now owns 121,751 shares of the technology company's stock valued at $11,921,000 after buying an additional 19,406 shares during the period. Ethic Inc. boosted its stake in shares of Twilio by 65.2% in the first quarter. Ethic Inc. now owns 22,116 shares of the technology company's stock worth $2,171,000 after buying an additional 8,732 shares during the last quarter. Marathon Trading Investment Management LLC acquired a new stake in Twilio during the first quarter worth about $734,000. Finally, Neuberger Berman Group LLC raised its position in Twilio by 38.1% during the first quarter. Neuberger Berman Group LLC now owns 3,132 shares of the technology company's stock valued at $307,000 after acquiring an additional 864 shares in the last quarter. Institutional investors and hedge funds own 84.27% of the company's stock.

Insider Transactions at Twilio

In other news, Director Erika Rottenberg sold 4,100 shares of Twilio stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $120.03, for a total transaction of $492,123.00. Following the sale, the director owned 33,488 shares of the company's stock, valued at approximately $4,019,564.64. The trade was a 10.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Aidan Viggiano sold 8,297 shares of the stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $117.05, for a total value of $971,163.85. Following the completion of the transaction, the chief financial officer owned 147,823 shares of the company's stock, 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. Insiders sold 53,964 shares of company stock worth $6,536,478 in the last 90 days. Insiders own 0.21% of the company's stock.

Twilio Stock Down 0.7%

Shares of NYSE:TWLO opened at $104.94 on Tuesday. Twilio Inc. has a 52-week low of $56.85 and a 52-week high of $151.95. The stock has a market cap of $16.02 billion, a P/E ratio of 874.57, a PEG ratio of 3.37 and a beta of 1.23. The business has a fifty day moving average of $119.52 and a two-hundred day moving average of $112.51. The company has a quick ratio of 4.90, a current ratio of 4.90 and a debt-to-equity ratio of 0.12.

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

Analyst Ratings Changes

Several equities research analysts have commented on TWLO shares. Wall Street Zen lowered Twilio from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 30th. Piper Sandler raised their price target on shares of Twilio from $140.00 to $144.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Wells Fargo & Company decreased their price objective on shares of Twilio from $160.00 to $120.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Needham & Company LLC reissued a "buy" rating and set a $125.00 target price on shares of Twilio in a research note on Friday, May 16th. Finally, HSBC upgraded Twilio from a "reduce" rating to a "hold" rating and lifted their price target for the company from $77.00 to $99.00 in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average 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.

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