Westfield Capital Management Co. LP Grows Stake in Twilio Inc. (NYSE:TWLO)

Key Points

• Westfield Capital Management Co. LP increased its stake in Twilio Inc. by 13.5%, owning 818,964 shares valued at $80.2 million by the end of the 1st quarter.
• Wall Street analysts have varying price targets for Twilio, with a consensus rating of "Moderate Buy" and an average price target of $127.22.
• Insider sales included CEO Khozema Shipchandler selling 13,595 shares and CFO Aidan Viggiano selling 8,297 shares, indicating a decrease in their holdings.

Westfield Capital Management Co. LP boosted its holdings in Twilio Inc. (NYSE:TWLO - Free Report) by 13.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 818,964 shares of the technology company's stock after purchasing an additional 97,337 shares during the quarter. Westfield Capital Management Co. LP owned about 0.54% of Twilio worth $80,185,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC boosted its position 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 during the last quarter. Horizon Financial Services LLC boosted its position in Twilio by 9,692.0% in the first quarter. Horizon Financial Services LLC now owns 2,448 shares of the technology company's stock worth $240,000 after purchasing an additional 2,423 shares during the last quarter. OneDigital Investment Advisors LLC purchased a new position in Twilio in the first quarter worth $294,000. Alpha Cubed Investments LLC boosted its position in Twilio by 53.7% in the first quarter. Alpha Cubed Investments LLC now owns 16,866 shares of the technology company's stock worth $1,651,000 after purchasing an additional 5,896 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its position in Twilio by 198.2% in the first quarter. QRG Capital Management Inc. now owns 8,077 shares of the technology company's stock worth $791,000 after purchasing an additional 5,368 shares during the last quarter. 84.27% of the stock is currently owned by institutional investors.

Insider Activity at Twilio

In related news, CEO Khozema Shipchandler sold 13,595 shares of the stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $117.06, for a total transaction of $1,591,430.70. Following the completion of the sale, the chief executive officer directly owned 246,986 shares in the company, valued at $28,912,181.16. This represents a 5.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Erika Rottenberg sold 4,100 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $120.03, for a total value of $492,123.00. Following the sale, the director owned 33,488 shares of the company's stock, valued at $4,019,564.64. This represents a 10.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,888 shares of company stock worth $6,753,409 in the last ninety days. 4.50% of the stock is owned by company insiders.

Twilio Price Performance

NYSE:TWLO traded down $0.48 during mid-day trading on Tuesday, reaching $124.84. The stock had a trading volume of 2,093,852 shares, compared to its average volume of 2,615,481. The firm has a 50 day moving average price of $121.96 and a two-hundred day moving average price of $114.25. The stock has a market capitalization of $19.06 billion, a P/E ratio of -594.48, a P/E/G ratio of 3.79 and a beta of 1.23. Twilio Inc. has a one year low of $56.85 and a one year high of $151.95. The company has a debt-to-equity ratio of 0.12, a quick ratio of 4.78 and a current ratio of 4.78.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TWLO. The Goldman Sachs Group boosted their price objective on Twilio from $130.00 to $145.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Robert W. Baird dropped their price target on Twilio from $160.00 to $130.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Jefferies Financial Group set a $132.00 price target on Twilio and gave the company a "hold" rating in a research report on Sunday, June 15th. Tigress Financial reaffirmed a "buy" rating and set a $170.00 price target on shares of Twilio in a research report on Thursday, May 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $125.00 price target on shares of Twilio in a research report on Friday, May 16th. 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus 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.