5 Stocks to Sell According to Julian Robertson’s Tiger Management

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

Number of Hedge Fund Holders: 271

Amazon.com, Inc. (NASDAQ:AMZN) is a multinational company that specializes in e-commerce, cloud computing, digital streaming and artificial intelligence. Ranked second on the list of the 10 stocks to sell according to Julian Robertson’s Tiger Management, Amazon.com, Inc. (NASDAQ:AMZN) has a market capitalization of $1.73 trillion.

By the end of the second quarter, Tiger Management had reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN) to 0, selling off all the shares it held of the company.

Amazon.com, Inc. (NASDAQ:AMZN) last released its earnings report on July 28, 2021, with reported earnings per share at $15.12, beating estimates of $12.22. The company also reported revenues of $113.08 billion, missing estimates by $2.01 billion. Earnings for the e-commerce giant are expected to grow by 29.57% in the coming year. There were 271 hedge funds in our database that held stakes in Amazon.com, Inc. (NASDAQ:AMZN) worth $60.49 billion in the second quarter of 2021, compared to 243 funds in the first quarter with total stakes amounting to approximately $50.4 billion.

Out of the hedge funds being tracked by Insider Monkey, Martyn Taylor’s Crake Asset Management is a leading shareholder in Amazon.com, Inc. (NASDAQ: AMZN) with 68,500 shares worth more than $235 billion.

In the Q2 2021 investor letter of L1 Capital, the fund mentioned Amazon.com, Inc. (NASDAQ:AMZN). Here is what the fund said:

“Amazon flipped from being the largest detractor from portfolio performance in the March 2021 quarter, to one of the leading contributors in the June 2021 quarter. We took advantage of negative near-term sentiment in the March 2021 quarter to add to our Amazon investment. We continue to view Amazon as one of the best positioned businesses globally, with its share price still not reflecting fair value.”