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Twilio Inc (TWLO): Coatue Management Reduces Stake

Philippe Laffont‘s Coatue Management has filed an amended 13G filing with the Securities and Exchange Commission disclosing a reduction in its holding of Twilio Inc (NYSE:TWLO), only two weeks after it disclosed the initial investment. According to the filing, the fund’s position was reduced to 437,152 shares or 3.8% of the company’s outstanding stock.

Twilio Inc (NYSE:TWLO) provides software tools for cloud-based communication services. The company went public on June 23 and so far it looks like a smashing success. Twilio priced its IPO at $15 per share, but shares ended the first day of trading at $28.79 apiece, a 92% surge. The stock did not stop there, however, and is currently trading around the $40 level, nearly triple its IPO price. Analysts put a stop to the meteoric rise, with J.P. Morgan having placed a ‘Neutral’ rating and a discount price target of $39 per share, while Canacccord Genuity analyst Richard Davis branded Twilio a ‘Hold’ with a price target of $40 per share. The performance of the stock is mainly due to investor expectations, as Twilio is yet to turn a profit. In 2015, the company saw its revenue nearly double to $166.9 million, yet it still reported a net loss of $35.5 million. No other hedge fund tracked by Insider Monkey has so far disclosed a position in Twilio Inc (NYSE:TWLO).COATUE MANAGEMENT

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Coatue Management 0 437,152 0 437,152 437,152 3.80%
Coatue Offshore Master Fund 0 374,661 0 374,661 374,661 3.26%
Philippe Laffont 0 437,152 0 437,152 437,152 3.80%
Philippe Laffont
Philippe Laffont
Coatue Management

Page 1 of 11 – SEC Filing

Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Twilio Inc.
(Name of Issuer)
Class A Common Stock, $0.001 par value per share
(Title of Class of Securities)
(CUSIP Number)
July 25, 2016
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
[_]  Rule 13d-1(b)
[X]  Rule 13d-1(c)
[_]  Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
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