Cathie Wood is Not Letting Go of These 5 Stocks Despite Losses

3. Twilio Inc. (NYSE:TWLO)

Number of Hedge Fund Holders: 75

YTD Share Price Decline as of July 22: 66.61%

Twilio Inc. (NYSE:TWLO) provides a cloud communications platform that enables customer engagement within software applications. Cathie Wood strengthened her hold on Twilio Inc. (NYSE:TWLO) by 11% in Q2 2022, holding 5.5 million shares worth $586 million. 

On July 22, Cowen analyst J. Derrick Wood reiterated an Outperform rating on Twilio Inc. (NYSE:TWLO) but lowered the price target on the shares to $150 from $250. The analyst expects strong results and maintains a constructive tone on the guidance, which he thinks would be better than what is factored into the stock. He has always thought 2H22 would present a solid setup and he still stands by this view, the analyst added. 

Among the hedge funds tracked by Insider Monkey, 75 funds were long Twilio Inc. (NYSE:TWLO) at the end of Q1 2022, compared to 80 funds in the earlier quarter. Matrix Capital Management is a significant shareholder 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.”