The Manufacturers Life Insurance Company Reduces Holdings in Twilio Inc. (NYSE:TWLO)

The Manufacturers Life Insurance Company cut its position in Twilio Inc. (NYSE:TWLO - Free Report) by 13.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,602 shares of the technology company's stock after selling 5,635 shares during the period. The Manufacturers Life Insurance Company's holdings in Twilio were worth $4,064,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership boosted its stake in Twilio by 718.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,262,765 shares of the technology company's stock valued at $352,640,000 after purchasing an additional 2,864,235 shares during the last quarter. Norges Bank acquired a new position in Twilio during the 4th quarter valued at about $222,146,000. Bank of New York Mellon Corp boosted its stake in Twilio by 11.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,009,028 shares of the technology company's stock valued at $109,056,000 after purchasing an additional 99,786 shares during the last quarter. Capital World Investors boosted its stake in Twilio by 0.8% during the 4th quarter. Capital World Investors now owns 583,373 shares of the technology company's stock valued at $63,051,000 after purchasing an additional 4,491 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Twilio in the 4th quarter worth approximately $62,999,000. 84.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TWLO has been the topic of a number of research analyst reports. Mizuho cut their target price on Twilio from $165.00 to $125.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. JMP Securities reaffirmed a "market outperform" rating and issued a $165.00 price target on shares of Twilio in a report on Tuesday, April 29th. Needham & Company LLC lowered their price target on shares of Twilio from $165.00 to $125.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. HSBC raised shares of Twilio from a "reduce" rating to a "hold" rating and lifted their price target for the stock from $77.00 to $99.00 in a report on Monday, May 5th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Twilio from $83.00 to $130.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $124.41.

Insiders Place Their Bets

In related news, CFO Aidan Viggiano sold 2,500 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $117.45, for a total value of $293,625.00. Following the transaction, the chief financial officer now directly owns 184,164 shares in the company, valued at approximately $21,630,061.80. This represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 sale, the chief executive officer now directly owns 295,134 shares in the company, valued at $28,297,447.92. This represents a 3.92% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,471 shares of company stock valued at $2,344,149. Company insiders own 0.21% of the company's stock.

Twilio Stock Up 5.1%

Twilio stock traded up $5.42 during mid-day trading on Monday, reaching $111.11. 2,775,743 shares of the company were exchanged, compared to its average volume of 2,666,641. Twilio Inc. has a 12-month low of $52.51 and a 12-month high of $151.95. The business has a fifty day moving average of $95.98 and a 200 day moving average of $106.51. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.06 and a current ratio of 5.06. The firm has a market cap of $16.96 billion, a P/E ratio of -173.60, a PEG ratio of 4.30 and a beta of 1.44.

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. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.14 billion. Twilio had a positive return on equity of 1.38% and a negative net margin of 2.45%. The firm's quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the business posted $0.80 EPS. Research analysts anticipate that Twilio Inc. will post 1.44 earnings per share for the current fiscal year.

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.