5 Best Tech Stocks to Buy According to Anand Parekh’s Alyeska Investment

In this post, we will look at the five best tech stocks to buy according to Anand Parekh’s Alyeska Investment. To learn more about the hedge fund and its founder, take a look at 10 Best Tech Stocks to Buy According to Anand Parekh’s Alyeska Investment.

5. Twilio Inc. (NYSE:TWLO)

Alyeska Investment’s Stake Value: $124 million

Percentage of Alyeska Investment’s 13F Portfolio: 1.42%

Number of Hedge Fund Holders: 64

Twilio Inc. (NYSE:TWLO) provides a cloud communications platform for software developers. This allows them to access a programming interface that allows for consumer engagement and embedding different capabilities. The firm is based in San Francisco, California.

Alyeska Investment owned a $124 million stake in Twilio Inc. (NYSE:TWLO) as this year’s June quarter ended. The stake represented 1.42% of the firm’s investment portfolio. Insider Monkey’s Q2 2022 survey of 895 hedge funds saw 64 investors in the firm.

Amidst the turbulent economic times that are plaguing the technology industry lately, Twilio Inc. (NYSE:TWLO) announced in September this year that it is laying off 11% of its employees in order to maintain profitability and profit margins. Piper Sandler reduced the company’s share price target to $113 from $122 in September 2022, as it stated that the firm has several near term catalysts but it should be wary of a slowdown in customer marketing.

Twilio Inc. (NYSE:TWLO)’s largest investor in our database is Catherine D. Wood’s ARK Investment Management which owns 5.5 million shares that are worth $586 million.

RiverPark Funds mentioned the company in its Q2 2022 investor letter. Here is what the fund said:

We forecast 30% annual revenue growth through 2027, with EBITDA margins approaching the company’s long-term model guidance of 27% to generate $11.49 of EPS. At its current stock price, TWLO trades at about 5x this 2027 EPS projection (and trades at only 3x our 2030 EPS estimate). We project that the company will generate nearly 65% of its current enterprise value in excess free cash over the next five years and all of its current enterprise value in excess cash by the end of the decade…” (Click Here to read the full text)