Shake-Up Alert: 40 Companies Facing Activist Pressure

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11. Sachem Head Capital at Twilio Inc. (NYSE:TWLO)

Stock Return: 3.6%

S&P 500 Return: -8.1%

Investment date: 01/04/2024

Number of hedge funds holding stakes: 45

Twilio Inc. (NYSE:TWLO) is a software and communications company that offers a cloud communication platform that allows developers to build, scale, and handle customer engagements. The cloud communications company has been part of an activist campaign spearheaded by Sachem Head Capital.

The activist investor has succeeded in pushing for seats on the board. Nevertheless, Twilio Inc. (NYSE:TWLO) is also facing activist pressure from Legion Partners and Anson funds, all of which are going for strategic alternatives, including divesting the data and applications business. The push comes on the underperforming stock, as it has been down by about 17% in the year.

Insider Monkey database indicates 45 hedge funds held stakes in Twilio Inc. (NYSE:TWLO) as of the end of Q1 2024.

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