Victory Capital Management Inc. Increases Stake in Twilio Inc. (NYSE:TWLO)

Key Points

• Victory Capital Management Inc. increased its stake in Twilio Inc. by 30.3%, owning a total of 23,196 shares worth approximately $2.27 million after acquiring 5,399 additional shares in the first quarter.
• Several institutional investors also raised their stakes, with American Century Companies Inc. increasing their holdings by 136.5% during the fourth quarter.
• Twilio reported $1.14 EPS for the latest quarter, exceeding analysts' expectations of $0.92, and experienced a 12.0% year-over-year revenue increase.

Victory Capital Management Inc. lifted its position in shares of Twilio Inc. (NYSE:TWLO - Free Report) by 30.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,196 shares of the technology company's stock after buying an additional 5,399 shares during the quarter. Victory Capital Management Inc.'s holdings in Twilio were worth $2,271,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. LRI Investments LLC purchased a new stake in shares of Twilio during the 1st quarter valued at about $25,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Twilio during the 1st quarter valued at about $28,000. Cloud Capital Management LLC purchased a new stake in Twilio during the 1st quarter worth approximately $34,000. UMB Bank n.a. purchased a new stake in Twilio during the 1st quarter worth approximately $37,000. Finally, CX Institutional purchased a new stake in Twilio during the 1st quarter worth approximately $39,000. Institutional investors and hedge funds own 84.27% of the company's stock.

Insider Transactions at Twilio

In other news, CEO Khozema Shipchandler sold 20,008 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer owned 260,581 shares in the company, valued at approximately $32,450,151.93. This represents a 7.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Erika Rottenberg sold 4,100 shares of the 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 transaction, the director owned 33,488 shares in the company, valued at approximately $4,019,564.64. This trade represents a 10.91% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,888 shares of company stock worth $6,753,409. Corporate insiders own 4.50% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TWLO. Jefferies Financial Group set a $132.00 price target on Twilio and gave the company a "hold" rating in a report on Sunday, June 15th. The Goldman Sachs Group boosted their price target on Twilio from $130.00 to $145.00 and gave the company a "buy" rating in a report on Friday, May 2nd. JMP Securities reiterated a "market outperform" rating and issued a $165.00 price target on shares of Twilio in a report on Tuesday, April 29th. Wells Fargo & Company reduced their price objective on Twilio from $160.00 to $120.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Finally, Scotiabank boosted 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $127.22.

Twilio Stock Down 1.1%

NYSE:TWLO traded down $1.46 on Tuesday, hitting $130.05. The stock had a trading volume of 2,070,444 shares, compared to its average volume of 2,458,750. The firm's fifty day simple moving average is $120.58 and its two-hundred day simple moving average is $113.61. 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 1 year low of $56.16 and a 1 year high of $151.95. The stock has a market cap of $19.85 billion, a P/E ratio of -619.28, a price-to-earnings-growth ratio of 4.09 and a beta of 1.30.

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