5 Stocks to Buy According to Matthew Hulsizer’s PEAK6 Capital Management

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

PEAK6 Capital Management’s Stake Value: $57,176,000
Percentage of PEAK6 Capital Management’s Portfolio: 0.12%
Number of Hedge Fund Holders: 271

Amazon.com, Inc. (NASDAQ:AMZN) is an e-commerce, cloud computing, digital streaming, and artificial intelligence-focused American multinational technology firm. Matthew Hulsizer initiated a new stake in Amazon.com, Inc. (NASDAQ:AMZN) in the first quarter of 2022 by purchasing 17,539 shares worth $57.18 million.

Morgan Stanley analyst Brian Nowak cut his price objective on Amazon.com, Inc. (NASDAQ:AMZN) from $3,800 to $3,500 on June 1 and reiterated an Overweight rating on the stock. Nowak notified investors that he reduced projections for online ad and e-commerce firms due to a more conservative base case he picked to account for heightened macro and micro uncertainty.

As per Insider Monkey’s Q1 2022 database, 271 hedge funds held stakes worth $48.03 billion in Amazon.com, Inc. (NASDAQ:AMZN). In comparison, 279 hedge funds held positions in the company in the previous quarter, with stakes valued at over $49.16 billion. In addition, Fisher Asset Management was one of the leading shareholders of Amazon.com, Inc. (NASDAQ:AMZN) in Q1 2022, owning stakes worth over $7.70 billion.

Baron Funds, an investment firm, in its Q1 2022 investor letter, mentioned Amazon.com, Inc. (NASDAQ:AMZN). Here’s what the fund said:

“Jeff Bezos sums up the current market behavior well in his 2000 shareholder letter where he quoted Benjamin Graham’s famous statement that, in the short term, a stock market is a voting machine, while in the long term, it is a weighing machine, saying that Amazon (NASDAQ:AMZN) is a “company that wants to be weighed, and over time we will be – over the long term, all companies are. In the meantime, we have our heads down working to build a heavier and heavier company.”

We have a lot of conviction that our businesses are doing the same – working to build heavier and heavier companies.”