New York State Common Retirement Fund Reduces Position in Twilio Inc. (NYSE:TWLO)

New York State Common Retirement Fund cut its position in Twilio Inc. (NYSE:TWLO - Free Report) by 10.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 80,181 shares of the technology company's stock after selling 9,647 shares during the period. New York State Common Retirement Fund owned approximately 0.05% of Twilio worth $7,851,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Concurrent Investment Advisors LLC grew its position in 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 during the period. Horizon Financial Services LLC grew 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 buying an additional 2,423 shares during the period. OneDigital Investment Advisors LLC bought a new stake in Twilio during the first quarter valued at approximately $294,000. Alpha Cubed Investments LLC grew 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 buying an additional 5,896 shares during the period. Finally, QRG Capital Management Inc. grew 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 buying an additional 5,368 shares during the period. 84.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Twilio

In other Twilio news, Director Erika Rottenberg sold 4,100 shares of the firm's 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 completion of the transaction, the director directly owned 33,488 shares of the company's stock, valued at approximately $4,019,564.64. This trade represents a 10.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Aidan Viggiano sold 8,297 shares of the firm'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 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 sold 55,888 shares of company stock valued at $6,753,409 in the last three months. 0.21% of the stock is owned by insiders.

Twilio Stock Up 3.7%

Twilio stock traded up $4.72 during midday trading on Friday, hitting $131.13. 3,348,985 shares of the company's stock were exchanged, compared to its average volume of 2,684,084. 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 12 month low of $56.16 and a 12 month high of $151.95. The firm has a 50-day moving average of $118.52 and a two-hundred day moving average of $112.72. The company has a market cap of $20.02 billion, a PE ratio of -624.43, a P/E/G ratio of 4.07 and a beta of 1.30.

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 business had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.14 billion. During the same period last year, the business earned $0.80 EPS. The company's revenue was up 12.0% compared to the same quarter last year. As a group, analysts expect that Twilio Inc. will post 1.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on TWLO. Wells Fargo & Company dropped their price target 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 restated a "buy" rating and set a $125.00 target price on shares of Twilio in a research report on Friday, May 16th. Mizuho dropped their target price on shares of Twilio from $165.00 to $125.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Piper Sandler set a $140.00 target price on shares of Twilio and gave the stock an "overweight" rating in a research report on Monday, July 14th. Finally, Jefferies Financial Group set a $132.00 target price on shares of Twilio and gave the stock a "hold" rating in a research report on Sunday, June 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Twilio currently has an average rating of "Moderate Buy" and an average price target of $127.22.

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.