Month YTD Jan 5.45% 5.0% Feb 7.37% 1.8% Mar -3.2% -14.4% Apr -5.0% -6.6% Roku (roku) 19.27% Pintrest (pins) 16.52% Crowdstrike (crwd) 12.55% DataDog (ddog) 10.84% Teladoc (tdoc) 6.03% Zoom (zm) 5.77% Stone (stne) 4.67% Snowflake (snow) 2.56% ZoomInfo (ZI) 2.60% Transmedics (tmdx)* 1.15% Stem Energy (stem) 0.92% -- try out position CASH 17.12%
Sold - PTON and ATOM
I ended up selling PTON completely. Usually selling out of companies that I have researched and understand is not an easy decision for me. However its better to sell than lose money. I explained my reasoning here (https://discussion.fool.com/why-i-sold-out-of-peloton-34818998.a…). Atomera was a starter position that I keep getting in and out of. I guess you can call it commitment fear ;). Its not the stock for this board so I will not discuss it here till it gets there.
Reduced - TMDX
Reduced transmedics a few times during the month. The FDA advisory panel gave a cautious approval for Organ care system for Heart in DBD cases. After reviewing the concerns brought forth by the advisory panel, I felt uncomfortable holding such a large position. FDA is yet to approve it so I sold my shares and bought some options against it. I would rather not go into details around options as per rules of this board.
Bought more - SNOW and added ZI (New Position)
Added some more to SNOW. I think the price may not grow till it grows in the numbers. However, it may not give me much of a chance. I love the business and plan to add more if it falls. Till then I am happy with my allocation.
To be honest, I read the article by Bert but completely ignored it because I did not understand the business much. After Saul brought it to the board there was excellent discussion around the business which helped my understanding. I understand what Dun&Bradsheet does. ZI is trying to do it for the digital world. So I took a position. Looking forward to earning results and learn more.
Reported Q1 2021 results. I thought the results were fantastic. The company grew revenues 78% YoY and guided for 105% growth YoY for 2nd Quarter. They also exceeded expectations on MAU for Q1 however guided for almost flat Q2. With the economy opening up and tough YoY comparisons and seasonality, I think its reasonable to expect some slow down in MAU growth especially since MAU increased due to Pandemic. However, market did not like the MAU forecast and PINS lost approx 15% after what I thought were great results. What I especially like is they raised ARPU 100% YoY for international users and with some growth in MAU their revenue from International users increased 174% YoY. Here comes the kicker, their ARPU from international users is 26 cents even after a 100% increase. Is it unreasonable to assume another 100% increase YoY for Intl. users given advertising demand is expected to pick up as the economy opens and also SNAP and FB ARPU is significantly higher than PINS?
They reported Q1 results which I thought were not bad especially given Market expectations of TDOC are not unreasonably high (Selling near 12 PS of next year’s revenue) . However, Market decided to punish it nonetheless and TDOC lost over 9% post earnings. Supposedly it did not like the larger than expected loss. But most of it was either non-cash charge or options from Livongo merger. I like TDOC because if Livongo. It gives it product differentiation and add value with both proactive and reactive care. I believe Telemedicine is a commodity if you cant have whole person health. Thats where TDOC has the advantage and as it adds more people it gets more data that can be used to sell more services.
Nothing much to add with regards to DDOG, CRWD and ZM. I did not change my holdings in either of them.
I am now sitting with 17% position in cash. Mostly due to the sale of PTON and TMDX. Looking for ideas to deploy cash. Even though I have the most confidence in my top 4 holdings, I feel I am fully invested in those.
Thank you all for sharing so generously.
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