5 Best Advertising Stocks to Buy Now

3. Amazon.com, Inc. (NASDAQ: AMZN)

Number of Hedge Fund Holders: 273     

Amazon.com, Inc. (NASDAQ: AMZN) is a Washington-based technology firm founded in 1994. It is ranked third on our list of 10 best advertising stocks to buy now. Amazon operates one of the largest e-commerce platforms in the world and also has significant stakes in the digital streaming business. Amazon sells advertising space on its platforms to all kinds of businesses. The company aims to compete with other big technology firms that use advertising as the core revenue stream for other operations. 

On May 3, Amazon.com, Inc. (NASDAQ: AMZN) was identified as one of the signature picks of investment bank Wells Fargo with a price target of $4,500. Earlier this week, Amazon reported that advertising content on its video streaming platform now reached more than 120 million users a month.

Out of the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in the firm with 4.9 million shares worth more than $16 billion.

Our calculations show that Amazon.com, Inc. (NASDAQ: AMZN) ranks 1st in our list of the 30 Most Popular Stocks Among Hedge Funds.