Man Group plc Cuts Stake in Twilio Inc. (NYSE:TWLO)

Man Group plc reduced its holdings in shares of Twilio Inc. (NYSE:TWLO) by 21.7% during the fourth quarter, HoldingsChannel reports. The firm owned 654,415 shares of the technology company’s stock after selling 180,956 shares during the period. Man Group plc’s holdings in Twilio were worth $70,729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of TWLO. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Twilio by 718.7% during the fourth 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 in the last quarter. Jericho Capital Asset Management L.P. bought a new position in shares of Twilio during the fourth quarter valued at $301,258,000. Norges Bank bought a new position in Twilio in the fourth quarter valued at about $222,146,000. Altimeter Capital Management LP bought a new position in Twilio in the fourth quarter valued at about $63,001,000. Finally, Renaissance Technologies LLC bought a new position in Twilio in the fourth quarter valued at about $62,999,000. 84.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on TWLO. Royal Bank of Canada reissued an “underperform” rating and issued a $75.00 target price on shares of Twilio in a report on Wednesday, March 19th. Barclays increased their target price on Twilio from $120.00 to $140.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Piper Sandler increased their target price on Twilio from $106.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. The Goldman Sachs Group increased their target price on Twilio from $130.00 to $145.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Finally, Oppenheimer increased their target price on Twilio from $90.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Twilio currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.41.

Insider Activity at Twilio

In related news, CFO Aidan Viggiano sold 1,391 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $124.51, for a total transaction of $173,193.41. Following the completion of the transaction, the chief financial officer now directly owns 152,519 shares of the company’s stock, valued at approximately $18,990,140.69. This trade represents a 0.90% 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 firm’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $95.88, for a total transaction of $1,155,929.28. Following the transaction, the chief executive officer now directly owns 295,134 shares of the company’s stock, valued at $28,297,447.92. The trade was a 3.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,471 shares of company stock valued at $2,344,149. Corporate insiders own 0.21% of the company’s stock.

Twilio Stock Performance

Shares of NYSE TWLO opened at $114.63 on Wednesday. The firm has a fifty day moving average price of $95.98 and a 200-day moving average price of $106.85. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.06 and a quick ratio of 5.06. The stock has a market cap of $17.50 billion, a PE ratio of -179.11, a price-to-earnings-growth ratio of 4.30 and a beta of 1.44. Twilio Inc. has a 1 year low of $52.51 and a 1 year high of $151.95.

Twilio (NYSE:TWLO) last announced its quarterly earnings data 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 firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Twilio had a negative net margin of 2.45% and a positive return on equity of 1.38%. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.80 earnings per share. Equities 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.