Norges Bank Invests $179.74 Million in Twilio Inc. (NYSE:TWLO)

Norges Bank bought a new position in shares of Twilio Inc. (NYSE:TWLO - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 2,369,036 shares of the technology company's stock, valued at approximately $179,739,000. Norges Bank owned 1.31% of Twilio at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Robeco Institutional Asset Management B.V. raised its position in shares of Twilio by 14.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,339 shares of the technology company's stock worth $102,000 after purchasing an additional 167 shares during the period. Blue Zone Wealth Advisors LLC lifted its stake in Twilio by 4.0% in the fourth quarter. Blue Zone Wealth Advisors LLC now owns 4,728 shares of the technology company's stock valued at $359,000 after buying an additional 181 shares in the last quarter. Brighton Jones LLC boosted its holdings in shares of Twilio by 1.8% in the fourth quarter. Brighton Jones LLC now owns 10,209 shares of the technology company's stock valued at $775,000 after buying an additional 185 shares during the period. Desjardins Global Asset Management Inc. boosted its holdings in shares of Twilio by 15.0% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,475 shares of the technology company's stock valued at $112,000 after buying an additional 192 shares during the period. Finally, Axxcess Wealth Management LLC raised its holdings in shares of Twilio by 4.0% during the third quarter. Axxcess Wealth Management LLC now owns 5,890 shares of the technology company's stock worth $345,000 after acquiring an additional 228 shares during the period. 84.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TWLO shares. HSBC cut Twilio from a "hold" rating to a "reduce" rating and lowered their target price for the stock from $62.00 to $61.00 in a report on Wednesday, February 14th. Canaccord Genuity Group dropped their target price on Twilio from $90.00 to $85.00 and set a "buy" rating on the stock in a research report on Wednesday, May 8th. Needham & Company LLC reaffirmed a "buy" rating and set a $71.00 price target on shares of Twilio in a research report on Monday. The Goldman Sachs Group lifted their price objective on shares of Twilio from $69.00 to $70.00 and gave the company a "neutral" rating in a report on Wednesday, March 6th. Finally, Stifel Nicolaus reduced their target price on shares of Twilio from $70.00 to $60.00 and set a "hold" rating for the company in a report on Wednesday, March 6th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Twilio currently has an average rating of "Hold" and a consensus price target of $69.95.

Insider Activity at Twilio

In other Twilio news, CEO Khozema Shipchandler sold 10,961 shares of Twilio stock in a transaction on Monday, April 1st. The shares were sold at an average price of $62.13, for a total transaction of $681,006.93. Following the completion of the transaction, the chief executive officer now directly owns 335,982 shares of the company's stock, valued at $20,874,561.66. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Dana Wagner sold 4,130 shares of Twilio stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $62.14, for a total transaction of $256,638.20. Following the completion of the sale, the insider now directly owns 167,614 shares of the company's stock, valued at approximately $10,415,533.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Khozema Shipchandler sold 10,961 shares of the company's stock in a transaction on Monday, April 1st. The shares were sold at an average price of $62.13, for a total value of $681,006.93. Following the completion of the transaction, the chief executive officer now directly owns 335,982 shares in the company, valued at $20,874,561.66. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,692 shares of company stock worth $1,714,597. Company insiders own 4.50% of the company's stock.

Twilio Stock Performance

NYSE:TWLO traded down $1.24 on Thursday, hitting $58.93. The company's stock had a trading volume of 1,841,321 shares, compared to its average volume of 3,148,319. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.11. Twilio Inc. has a one year low of $49.86 and a one year high of $78.16. The stock has a fifty day moving average of $60.81 and a two-hundred day moving average of $64.99. The firm has a market capitalization of $10.09 billion, a P/E ratio of -15.01, a price-to-earnings-growth ratio of 10.20 and a beta of 1.33.

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.