Pictet Asset Management Holding SA Sells 563,674 Shares of Twilio Inc. (NYSE:TWLO)

Pictet Asset Management Holding SA reduced its stake in shares of Twilio Inc. (NYSE:TWLO) by 24.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,784,716 shares of the technology company’s stock after selling 563,674 shares during the period. Pictet Asset Management Holding SA’s holdings in Twilio were worth $192,892,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. M&T Bank Corp raised its position in shares of Twilio by 1.0% during the fourth quarter. M&T Bank Corp now owns 8,727 shares of the technology company’s stock worth $943,000 after acquiring an additional 85 shares during the last quarter. Allworth Financial LP raised its position in shares of Twilio by 6.9% in the 4th quarter. Allworth Financial LP now owns 1,465 shares of the technology company’s stock worth $165,000 after acquiring an additional 94 shares in the last quarter. GHP Investment Advisors Inc. lifted its stake in shares of Twilio by 10.4% in the 4th quarter. GHP Investment Advisors Inc. now owns 1,107 shares of the technology company’s stock valued at $120,000 after purchasing an additional 104 shares during the period. Tidal Investments LLC boosted its position in shares of Twilio by 0.6% during the 3rd quarter. Tidal Investments LLC now owns 17,666 shares of the technology company’s stock valued at $1,152,000 after purchasing an additional 112 shares in the last quarter. Finally, Freestone Capital Holdings LLC grew its stake in Twilio by 3.3% during the fourth quarter. Freestone Capital Holdings LLC now owns 3,918 shares of the technology company’s stock worth $423,000 after purchasing an additional 124 shares during the period. 84.27% of the stock is owned by institutional investors and hedge funds.

Twilio Price Performance

Shares of NYSE:TWLO opened at $98.86 on Friday. Twilio Inc. has a fifty-two week low of $52.51 and a fifty-two week high of $151.95. The company’s 50-day moving average is $120.55 and its 200 day moving average is $100.37. 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 company has a market capitalization of $15.09 billion, a P/E ratio of -154.47, a price-to-earnings-growth ratio of 4.30 and a beta of 1.47.

Twilio (NYSE:TWLO) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.77). Twilio had a negative net margin of 2.45% and a positive return on equity of 1.38%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.19 billion. On average, equities research analysts forecast that Twilio Inc. will post 1.44 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Barclays boosted their target price on shares of Twilio from $120.00 to $140.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. JMP Securities reaffirmed a “market outperform” rating and set a $165.00 price target on shares of Twilio in a research note on Friday, February 14th. Wells Fargo & Company raised their price objective on Twilio from $140.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. The Goldman Sachs Group raised Twilio from a “neutral” rating to a “buy” rating and upped their target price for the stock from $77.00 to $185.00 in a research report on Monday, January 27th. Finally, UBS Group lifted their price target on shares of Twilio from $145.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $135.35.

Insider Buying and Selling

In other news, CFO Aidan Viggiano sold 1,391 shares of Twilio stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $124.51, for a total value of $173,193.41. Following the completion of the transaction, the chief financial officer now owns 152,519 shares in the company, valued at $18,990,140.69. This trade represents a 0.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Khozema Shipchandler sold 10,834 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $113.58, for a total transaction of $1,230,525.72. Following the completion of the sale, the chief executive officer now directly owns 244,971 shares in the company, valued at approximately $27,823,806.18. This trade represents a 4.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,277 shares of company stock valued at $2,441,324. 4.50% of the stock is owned by insiders.

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.