5 Best Stocks to Buy According to Billionaire Jeffrey Talpins

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

Element Capital Management’s Stake Value: $128,192,000

Percentage of Element Capital Management’s 13F Portfolio: 8.24%

Number of Hedge Fund Holders: 279

Billionaire Jeffrey Talpins’ Element Capital Management added 38,446 shares of Amazon.com, Inc. (NASDAQ:AMZN) to its Q4 2021 portfolio, worth over $128 million, representing 8.24% of the total 13F securities. Amazon.com, Inc. (NASDAQ:AMZN) is an American multinational company that specializes in e-commerce, cloud computing, artificial intelligence, consumer electronics, digital streaming and entertainment, and self-driving cars. 

Amazon.com, Inc. (NASDAQ:AMZN) reported its Q1 results on April 28, posting a loss per share of $7.56, missing consensus estimates by $16.05. Revenue for the quarter grew 7.30% year-over-year to $116.44 billion, but missed market predictions by $67.09 million. 

On May 2, Wedbush analyst Michael Pachter removed Amazon.com, Inc. (NASDAQ:AMZN) from its Best Ideas List owing to its investment price discipline. The analyst has an Outperform rating and a price target of $3,500 on the shares.

According to Insider Monkey’s Q4 data, 279 hedge funds were bullish on Amazon.com, Inc. (NASDAQ:AMZN), up from 242 funds in the prior quarter. Ken Fisher’s Fisher Asset Management is a prominent shareholder of the company, with more than 2 million shares worth $7.2 billion. 

Here is what Oakmark Fund has to say about Amazon.com, Inc. (NASDAQ:AMZN) in its Q1 2022 investor letter:

“Amazon is the leading e-commerce and cloud-computing provider in the world. In e-commerce, two-thirds of U.S. households are Amazon Prime subscribers, and over half of all online product searches now start on Amazon. We believe the company’s strong customer loyalty and massive infrastructure are significant barriers to entry in a growing e-commerce market. Separately, Amazon Web Services (AWS) controls nearly half of the market in cloud computing. We believe AWS has become utility-like in nature and scale, and we expect healthy growth moving forward as IT workloads continue moving to the cloud. More recently, concerns about rising investment spending have weighed on the stock-as they have in times past-providing us another opportunity to purchase shares at an attractive multiple of normalized earnings and a discount to its peer-weighted enterprise value-to-sales multiple.”