Investment Management Corp of Ontario Sells 17,180 Shares of Twilio Inc. (NYSE:TWLO)

Investment Management Corp of Ontario lessened its stake in Twilio Inc. (NYSE:TWLO - Free Report) by 46.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,467 shares of the technology company's stock after selling 17,180 shares during the quarter. Investment Management Corp of Ontario's holdings in Twilio were worth $2,104,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of TWLO. Focus Partners Wealth raised its holdings in Twilio by 3.5% during the 4th quarter. Focus Partners Wealth now owns 66,902 shares of the technology company's stock valued at $7,236,000 after acquiring an additional 2,242 shares during the period. Ethic Inc. raised its holdings in Twilio by 54.2% during the 4th quarter. Ethic Inc. now owns 13,384 shares of the technology company's stock valued at $1,447,000 after acquiring an additional 4,702 shares during the period. Ensign Peak Advisors Inc raised its holdings in Twilio by 38.1% during the 4th quarter. Ensign Peak Advisors Inc now owns 324,710 shares of the technology company's stock valued at $35,095,000 after acquiring an additional 89,512 shares during the period. FORA Capital LLC purchased a new position in shares of Twilio during the 4th quarter valued at $7,999,000. Finally, Frontier Capital Management Co. LLC grew its position in shares of Twilio by 92.2% during the 4th quarter. Frontier Capital Management Co. LLC now owns 819,896 shares of the technology company's stock valued at $88,614,000 after purchasing an additional 393,348 shares in the last quarter. Institutional investors own 84.27% of the company's stock.

Twilio Stock Down 0.3%

Shares of NYSE TWLO traded down $0.38 on Wednesday, reaching $114.16. 2,540,063 shares of the company's stock traded hands, compared to its average volume of 2,669,429. Twilio Inc. has a 12 month low of $52.51 and a 12 month high of $151.95. The business's 50 day simple moving average is $96.15 and its two-hundred day simple moving average is $106.90. The company has a market cap of $17.42 billion, a price-to-earnings ratio of -178.38, a price-to-earnings-growth ratio of 4.30 and a beta of 1.44. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.12.

Twilio (NYSE:TWLO - Get Free Report) last announced its 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 2.45% and a positive return on equity of 1.38%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the firm earned $0.80 earnings per share. The business's revenue for the quarter was up 12.0% on a year-over-year basis. As a group, equities research analysts forecast that Twilio Inc. will post 1.44 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on TWLO. JMP Securities restated a "market outperform" rating and set a $165.00 price target on shares of Twilio in a research report on Tuesday, April 29th. Wells Fargo & Company reduced 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. Oppenheimer boosted their price target on shares of Twilio from $90.00 to $160.00 and gave the company an "outperform" rating in a research report on Friday, January 24th. Needham & Company LLC cut their target price on shares of Twilio from $165.00 to $125.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Finally, StockNews.com upgraded shares of Twilio from a "hold" rating to a "buy" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $124.41.

Insider Activity

In other Twilio news, CFO Aidan Viggiano sold 7,524 shares of the company's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $95.88, for a total transaction of $721,401.12. Following the completion of the sale, the chief financial officer now directly owns 176,640 shares of the company's stock, valued at approximately $16,936,243.20. This represents a 4.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Khozema Shipchandler sold 12,056 shares of the company's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $95.88, for a total value of $1,155,929.28. Following the completion of the sale, the chief executive officer now owns 295,134 shares of the company's stock, valued at $28,297,447.92. This trade represents a 3.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,471 shares of company stock worth $2,344,149 over the last 90 days. 0.21% of the stock is currently owned by insiders.

Twilio 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.