Van ECK Associates Corp Buys New Shares in Twilio Inc. (NYSE:TWLO)

Van ECK Associates Corp bought a new stake in shares of Twilio Inc. (NYSE:TWLO) during the 1st quarter, Holdings Channel reports. The firm bought 5,700 shares of the technology company’s stock, valued at approximately $1,942,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HM Payson & Co. purchased a new position in Twilio during the fourth quarter valued at $27,000. Abundance Wealth Counselors bought a new stake in Twilio during the first quarter valued at about $27,000. Lloyd Advisory Services LLC. raised its holdings in Twilio by 645.5% during the first quarter. Lloyd Advisory Services LLC. now owns 82 shares of the technology company’s stock valued at $28,000 after acquiring an additional 71 shares during the period. First Horizon Advisors Inc. raised its holdings in Twilio by 4,500.0% during the first quarter. First Horizon Advisors Inc. now owns 92 shares of the technology company’s stock valued at $30,000 after acquiring an additional 90 shares during the period. Finally, Childress Capital Advisors LLC bought a new stake in Twilio during the fourth quarter valued at about $32,000. Institutional investors own 78.32% of the company’s stock.

A number of research firms have commented on TWLO. UBS Group began coverage on Twilio in a report on Thursday, May 27th. They set a “buy” rating and a $385.00 price target on the stock. Bank of America reissued a “buy” rating on shares of Twilio in a report on Monday, April 26th. Zacks Investment Research raised Twilio from a “strong sell” rating to a “hold” rating and set a $386.00 price target on the stock in a report on Tuesday, April 20th. Mizuho decreased their price target on Twilio from $475.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, May 6th. Finally, Morgan Stanley reduced their target price on Twilio from $500.00 to $420.00 and set an “overweight” rating on the stock in a report on Friday, May 14th. Two investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $437.80.

In related news, General Counsel Karyn Smith sold 1,067 shares of the business’s stock in a transaction that occurred on Monday, May 17th. The stock was sold at an average price of $298.60, for a total value of $318,606.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chee Chew sold 1,104 shares of the business’s stock in a transaction that occurred on Wednesday, March 31st. The shares were sold at an average price of $343.95, for a total value of $379,720.80. The disclosure for this sale can be found here. Insiders have sold 137,523 shares of company stock valued at $48,782,968 in the last 90 days. Company insiders own 6.68% of the company’s stock.

Shares of NYSE:TWLO opened at $386.56 on Friday. Twilio Inc. has a 1 year low of $206.56 and a 1 year high of $457.30. The company’s 50 day simple moving average is $339.42. The stock has a market capitalization of $66.76 billion, a price-to-earnings ratio of -99.89 and a beta of 1.44. The company has a quick ratio of 12.19, a current ratio of 12.19 and a debt-to-equity ratio of 0.12.

Twilio (NYSE:TWLO) last announced its earnings results on Wednesday, May 5th. The technology company reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.58) by $0.63. Twilio had a negative return on equity of 5.84% and a negative net margin of 30.33%. The business had revenue of $589.99 million during the quarter, compared to analyst estimates of $533.44 million. Analysts expect that Twilio Inc. will post -2.56 earnings per share for the current fiscal year.

About Twilio

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.

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Institutional Ownership by Quarter for Twilio (NYSE:TWLO)

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