Twilio Inc. (NYSE:TWLO) Stock Position Reduced by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its stake in shares of Twilio Inc. (NYSE:TWLO - Free Report) by 3.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 335,974 shares of the technology company's stock after selling 11,187 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.22% of Twilio worth $32,895,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Aigen Investment Management LP increased its holdings in Twilio by 81.6% in the fourth quarter. Aigen Investment Management LP now owns 11,546 shares of the technology company's stock valued at $1,248,000 after buying an additional 5,188 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Twilio by 145.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 11,603 shares of the technology company's stock valued at $1,254,000 after acquiring an additional 6,881 shares during the last quarter. Telemark Asset Management LLC bought a new stake in shares of Twilio in the 4th quarter valued at approximately $5,404,000. QRG Capital Management Inc. raised its position in shares of Twilio by 198.2% during the 1st quarter. QRG Capital Management Inc. now owns 8,077 shares of the technology company's stock valued at $791,000 after acquiring an additional 5,368 shares in the last quarter. Finally, Verdence Capital Advisors LLC bought a new position in Twilio during the fourth quarter worth $501,000. Institutional investors own 84.27% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on TWLO shares. Tigress Financial reiterated a "buy" rating and set a $170.00 target price on shares of Twilio in a research note on Thursday, May 8th. UBS Group lowered their price objective on shares of Twilio from $175.00 to $150.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Wells Fargo & Company cut their target price on shares of Twilio from $160.00 to $120.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. The Goldman Sachs Group upped their target price on Twilio from $130.00 to $145.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Finally, Piper Sandler raised their price target on Twilio from $106.00 to $121.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $126.39.

Twilio Price Performance

Twilio stock traded up $3.90 during midday trading on Thursday, hitting $120.41. The company's stock had a trading volume of 1,607,202 shares, compared to its average volume of 2,626,477. Twilio Inc. has a 12 month low of $55.38 and a 12 month high of $151.95. The company has a quick ratio of 4.78, a current ratio of 4.78 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $18.38 billion, a PE ratio of -573.38, a price-to-earnings-growth ratio of 3.65 and a beta of 1.30. The stock's 50-day moving average price is $113.17 and its 200-day moving average price is $111.65.

Twilio (NYSE:TWLO - Get Free Report) last issued its earnings results on Thursday, May 1st. The technology company reported $1.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.14 billion. During the same period in the previous year, the firm posted $0.80 EPS. The company's quarterly revenue was up 12.0% on a year-over-year basis. Analysts anticipate that Twilio Inc. will post 1.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Twilio news, Director Erika Rottenberg sold 4,100 shares of the business's stock in a transaction 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 directly owned 33,488 shares of the company's stock, valued at $4,019,564.64. The trade was a 10.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Khozema Shipchandler sold 20,008 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer owned 260,581 shares of the company's stock, valued at $32,450,151.93. The trade was a 7.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,996 shares of company stock worth $4,190,814 over the last ninety days. 0.21% of the stock is currently owned by company 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.