Lazard Asset Management LLC Reduces Position in Twilio Inc. (NYSE:TWLO)

Lazard Asset Management LLC cut its holdings in shares of Twilio Inc. (NYSE:TWLOGet Rating) by 72.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,486 shares of the technology company’s stock after selling 3,920 shares during the quarter. Lazard Asset Management LLC’s holdings in Twilio were worth $390,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Morgan Stanley lifted its holdings in shares of Twilio by 1.4% in the second quarter. Morgan Stanley now owns 10,978,417 shares of the technology company’s stock worth $4,327,253,000 after buying an additional 152,151 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Twilio by 5.7% in the fourth quarter. Baillie Gifford & Co. now owns 6,456,068 shares of the technology company’s stock worth $1,700,141,000 after buying an additional 346,907 shares in the last quarter. ARK Investment Management LLC lifted its holdings in shares of Twilio by 25.0% in the fourth quarter. ARK Investment Management LLC now owns 4,059,214 shares of the technology company’s stock worth $1,068,953,000 after buying an additional 810,637 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Twilio by 22.1% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,434,055 shares of the technology company’s stock worth $904,324,000 after buying an additional 621,427 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. lifted its holdings in shares of Twilio by 30.0% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 2,984,512 shares of the technology company’s stock worth $792,537,000 after buying an additional 689,360 shares in the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

In related news, COO Khozema Shipchandler sold 3,550 shares of the firm’s stock in a transaction on Tuesday, February 22nd. The stock was sold at an average price of $156.78, for a total value of $556,569.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eyal Manor sold 3,088 shares of the firm’s stock in a transaction on Tuesday, February 15th. The stock was sold at an average price of $199.01, for a total value of $614,542.88. The disclosure for this sale can be found here. Insiders sold 15,798 shares of company stock worth $2,905,199 in the last 90 days. Company insiders own 4.96% of the company’s stock.

TWLO has been the topic of a number of recent analyst reports. Cowen lowered their price target on shares of Twilio from $300.00 to $250.00 in a report on Thursday, May 5th. Royal Bank of Canada decreased their price objective on shares of Twilio from $400.00 to $200.00 in a research report on Tuesday, May 3rd. Canaccord Genuity Group decreased their price objective on shares of Twilio from $510.00 to $455.00 and set a “buy” rating on the stock in a research report on Thursday, February 10th. Canaccord Genuity Group decreased their price objective on shares of Twilio from $455.00 to $245.00 and set a “buy” rating on the stock in a research report on Thursday, May 5th. Finally, Wells Fargo & Company decreased their price objective on shares of Twilio from $285.00 to $225.00 in a research report on Tuesday, May 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat, Twilio presently has a consensus rating of “Buy” and an average price target of $302.27.

Shares of Twilio stock opened at $110.79 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 8.43 and a current ratio of 8.43. Twilio Inc. has a 52-week low of $87.67 and a 52-week high of $412.68. The stock has a market capitalization of $20.11 billion, a price-to-earnings ratio of -20.40 and a beta of 1.54. The company’s 50 day moving average price is $137.78 and its 200-day moving average price is $203.93.

Twilio (NYSE:TWLOGet Rating) last issued its earnings results on Wednesday, February 9th. The technology company reported ($1.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.94) by ($0.31). Twilio had a negative return on equity of 6.11% and a negative net margin of 30.86%. The firm had revenue of $842.74 million during the quarter, compared to the consensus estimate of $768.89 million. During the same quarter in the prior year, the business posted ($0.80) EPS. As a group, equities research analysts forecast that Twilio Inc. will post -3.44 earnings per share for the current fiscal year.

Twilio Company Profile (Get Rating)

Twilio Inc, together with its subsidiaries, provides a cloud communications platform that enables developers to build, scale, and operate customer engagement within software applications in the United States and internationally. Its customer engagement platform provides a set of application programming interfaces that handle the higher-level communication logic needed for nearly every type of customer engagement, as well as enable developers to embed voice, messaging, video, and email capabilities into their applications.

Further Reading

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Institutional Ownership by Quarter for Twilio (NYSE:TWLO)

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