5 Blue Chip Stocks to Buy Now According to Billionaire D. E. Shaw

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

D E Shaw’s stake value: $569 million

Percentage of D E Shaw’s Portfolio: 0.66%

Number of Hedge Fund Holders: 252

With $386 billion in net sales and an expected $578 billion in physical/digital online gross product volume in 2021, Amazon.com, Inc. (NASDAQ:AMZN) is a significant online retailer and one of the highest-grossing e-commerce aggregators. Retail sales account for over 80% of total revenue, followed by Amazon Web Services’ cloud computing, storage, database, and other products (10%-15%). During Q2 2022, D E Shaw boosted its stake in the company by 1204%. The fund’s total stake in the company amounted to roughly $569 million, which represented 0.66% of its 13F portfolio.

Tom Forte, analyst at DA Davidson maintains his buy stance of Amazon.com, Inc. (NASDAQ:AMZN) with a price target of $151, after the company recently disclosed the buyout of Cloostermans, a warehouse automation firm. The analyst noted that Amazon.com, Inc. (NASDAQ:AMZN) is making a “concerted effort” into the robotics / automation business with this purchase, as well as with the iRobot (IRBT) acquisition announced last month.

At the end of Q2 2022, 252 hedge funds tracked by Insider Monkey owned stakes in Amazon.com, Inc. (NASDAQ:AMZN). Fisher Asset Management was the stock’s leading stakeholder in Q2, owning Amazon.com, Inc. (NASDAQ:AMZN) shares worth over $5.1 billion. The fund’s position in the stock increased by 1959% from Q1 2022.