Should You Exit Twilio (TWLO)?

RiverPark Advisors, an investment advisory firm, and sponsor of the RiverPark family of mutual funds released its “RiverPark Large Growth Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. The fund returned 2.41% in the fourth quarter compared to a 7.56% return for the S&P 500 Total Return Index and a 2.20% return for the Russell 1000 Growth Total Return Index. In 2022, the fund declined by 47.37% compared to -18.11% and -29.14% fall for the S&P 500 and the Russell 1000 Growth Index, respectively. In addition, please check the fund’s top five holdings to know its best picks in 2022.

RiverPark Large Growth Fund highlighted stocks like Twilio Inc. (NYSE:TWLO) in the fourth quarter investor letter. Headquartered in San Francisco, California, Twilio Inc. (NYSE:TWLO) is a cloud communications platform provider. On February 10, 2023, Twilio Inc. (NYSE:TWLO) stock closed at $60.07 per share. One-month return of Twilio Inc. (NYSE:TWLO) was 11.20%, and its shares lost 69.31% of their value over the last 52 weeks. Twilio Inc. (NYSE:TWLO) has a market capitalization of $11.073 billion.

RiverPark Large Growth Fund made the following comment about Twilio Inc. (NYSE:TWLO)  in its Q4 2022 investor letter:

“Twilio Inc. (NYSE:TWLO): TWLO was also a top detractor for the quarter. Despite better-than-expected 3Q results, management provided 4Q guidance well below expectations and lowered its long-term organic revenue growth expectations from 30% to 15%-25%. A key component of these lowered expectations was the company’s failure to execute in enterprise software sales, which was a fundamental part of our investment thesis, so we exited the position during the quarter.”

Twilio Inc. (NYSE:TWLO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 58 hedge fund portfolios held Twilio Inc. (NYSE:TWLO)  at the end of the third quarter, which was 64 in the previous quarter.

We discussed Twilio Inc. (NYSE:TWLO) in another article and shared the list of worst stock picks of Cathie Wood in 2022. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.