4. Amazon.com, Inc. (NASDAQ:AMZN)
Millennium Management’s Stake Value: $981,970,000
Percentage of Millennium Management’s 13F Portfolio: 0.49%
Number of Hedge Fund Holders: 279
Amazon.com, Inc. (NASDAQ:AMZN) is one of the top favorite stocks of Izzy Englander. The billionaire increased his Amazon.com, Inc. (NASDAQ:AMZN) stake in Q4 2021 by 78%, holding 294,502 shares worth approximately $982 million. The stock has consistently featured on Izzy Englander’s Millennium Management portfolio since Q3 2017, but the billionaire first invested in the shares back in the last quarter of 2010.
Amazon.com, Inc. (NASDAQ:AMZN) reported its fourth quarter results on February 3, posting earnings per share of $27.65, topping analysts’ predictions by $24.09. Revenue over the period jumped 9.44% year-over-year to $137.41 billion, but still fell short of analysts’ predictions by $173.16 million.
On March 25, Evercore ISI analyst Mark Mahaney maintained an Outperform recommendation on Amazon.com, Inc. (NASDAQ:AMZN) and a $4,300 price target, while “modestly” elevating his FY23 and FY24 EPS estimates above the Street consensus. He calls Amazon.com, Inc. (NASDAQ:AMZN) his top mega cap internet idea.
According to Insider Monkey’s Q4 data, 279 hedge funds were bullish on Amazon.com, Inc. (NASDAQ:AMZN), compared to 242 funds in the prior quarter. Boykin Curry’s Eagle Capital Management is a significant stakeholder of the company, with 677,828 shares worth $2.26 billion.
Here is what Mercator International Opportunity Fund has to say about Amazon.com, Inc. (NASDAQ:AMZN) in its Q4 2021 investor letter:
“Transformative technologies often generate euphoria. People are excited by the big new thing that is changing the world. We saw this pattern with the boom of westward canal transportation at the dawn of the nineteenth century. Railway stocks similarly attracted large numbers of eager investors a few decades later. Then came the electrification of America, the telephone, and the automobile industry, to name just a few transformative technologies.
The initial euphoric phase always ends with a reality check. Valuations come back to earth. At the end of the cycle, only a few companies remain standing. A shakeout has a way of clarifying the field of opportunities.
For example, readers may recall that when the internet bubble burst two decades ago, Amazon.com, Inc. (NASDAQ:AMZN) stock suffered greatly but pet.com was gone. For those investors who had stayed on the sidelines, this was an excellent time to buy Amazon. The company’s business model had shown its merits and competition was rapidly shrinking. The stock price was now also much more attractive.”
