Twilio Inc (TWLO)

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Ark Invest Stock Portfolio: 16 Biggest Positions

Sheryar Siddiq
Thu, December 14, 2023 at 2:02 AM MST
https://finance.yahoo.com/news/ark-invest-stock-portfolio-16-090218473.html

9. Twilio Inc. (NYSE:TWLO)
Cathie Wood & Ark Invest’s Q3 2023 Investment: $417.43 million

Number of Hedge Fund Investors: 43

Twilio Inc. (NYSE:TWLO), headquartered in San Francisco, California, is an American company that offers programmable communication tools. It facilitates making and receiving phone calls, sending and receiving text messages, and performing various communication functions through its web service APIs.

On November 8, Twilio Inc. (NYSE:TWLO) unveiled its financial results for Q3 2023, showcasing a 5% year-over-year revenue increase to $1.0 billion, accompanied by a remarkable 71% year-over-year reduction in net loss to $140 million. The company achieved a normalized EPS of $0.58, surpassing consensus estimates by $0.22. Following the earnings announcement, JMP Securities analyst Patrick Walravens reaffirmed a ‘Market Outperform’ rating for Twilio Inc. (NYSE:TWLO) shares, maintaining an unchanged target price of $110, indicative of a 78.72% upside potential based on the share price.

Insider Monkey’s third quarter of 2023 survey covering 910 hedge funds revealed 43 Twilio Inc. (NYSE:TWLO) investors. Out of these, the largest shareholder during Q3 2023 was David Blood and Al Gore’s Generation Investment Management due to its $505.6 million stake. Catherine Wood was the firm's second largest stakeholder for the quarter, with a stake worth $417.43 million.