Cathie Wood and Steve Cohen Love These 5 Stocks

4. Twilio Inc. (NYSE:TWLO)

ARK Investment Management’s Stake Value: $827,554,000

Point72 Asset Management’s Stake Value: $1,549,000

Number of Hedge Fund Holders: 75

Twilio Inc. (NYSE:TWLO) was incorporated in 2008 and is headquartered in San Francisco, California. The company provides a cloud communications platform that promotes customer engagement within software applications. Cathie Wood’s fund owned an $827.5 million stake in Twilio Inc. (NYSE:TWLO) during the first quarter of 2022, and Steve Cohen held a $1.5 million position in the company, making it a favorite stock of the hedge fund managers. 

On June 9, Scotiabank analyst Nick Altmann started coverage of Twilio Inc. (NYSE:TWLO) with an Outperform rating and a $215 price target. According to the analyst, Twilio Inc. (NYSE:TWLO)’s story “may not be as clean as it has been in the past,” but it continues to be one of the quickest-growing companies of its scale on an organic basis, the analyst told investors. It remains the market leader in Communications Platform as a Service segment, which the analyst refers to as “the fastest-growing end-market in software”. 

According to Insider Monkey’s database, 75 hedge funds were bullish on Twilio Inc. (NYSE:TWLO) at the end of March 2022, compared to 80 funds in the prior quarter. David Goel and Paul Ferri’s Matrix Capital Management is one of the leading shareholders of the company, with 2.6 million shares worth $431.3 million. 

Here is what Carillon Scout Mid Cap Fund has to say about Twilio Inc. (NYSE:TWLO) in its Q1 2022 investor letter:

“Twilio (NYSE:TWLO), the messaging and marketing automation software platform, sold off along with other highly valued software-as-a-service providers. Although the company management team expects continued strong growth, investors have grown concerned that demand could slow following the surge in digital communication during the pandemic.”