Amazon.Com (AMZN) Reported Strong Results In Q1

Investment management company Vulcan Value Partners recently released its first quarter 2024 investor letter. A copy of the letter can be downloaded here. The firm is happy with the first quarter’s outcomes. All of the strategic composites generated positive returns, and many of them outperformed their respective benchmarks. In the quarter, the fund’s Large Cap Composite returned 12.0% net of fees and expenses, the Small Cap Composite returned 0.2% net, the Focus Composite returned 12.7% net, the Focus Plus composite returned 12.9%, and the All-Cap Composite returned 6.6% net. You can check the top 5 holdings of the fund to know its best picks in 2023.

Vulcan Value Partners featured stocks like Amazon.com, Inc. (NASDAQ:AMZN) in its Q1 2024 investor letter. Headquartered in Seattle, Washington, Amazon.com, Inc. (NASDAQ:AMZN) provides consumer products and subscriptions. On May 9, 2024, Amazon.com, Inc. (NASDAQ:AMZN) stock closed at $189.50 per share. One-month return of Amazon.com, Inc. (NASDAQ:AMZN) was 1.81%, and its shares gained 71.87% of their value over the last 52 weeks. Amazon.com, Inc. (NASDAQ:AMZN) has a market capitalization of $1.972 trillion.

Vulcan Value Partners stated the following regarding Amazon.com, Inc. (NASDAQ:AMZN) in its first quarter 2024 investor letter:

Amazon.com, Inc. (NASDAQ:AMZN) is a dominant, world class company with powerful secular tailwinds in place including its ecommerce penetration, digital advertising growth, and the cloud transition. Amazon reported strong results during the quarter. Losses in the Core Retail business significantly narrowed. Amazon reduced its cost to serve on a per unit basis for the first time since 2018 as the company’s recent regionalization efforts continue to bear fruit.”

A customer entering an internet retail store, illustrating the convenience of online shopping.

Amazon.com, Inc. (NASDAQ:AMZN) is in second position on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Amazon.com, Inc. (NASDAQ:AMZN) was held by 293 hedge fund portfolios, up from 286 in the previous quarter, according to our database.

We previously discussed Amazon.com, Inc. (NASDAQ:AMZN) in another article, where we shared the list of best gig economy stocks to buy. Investment management firms like Ithaka Group, Polen Capital, and Alphyn Capital Management expressed their confidence in Amazon.com, Inc. (NASDAQ:AMZN) in their respective Q1 2024 investor letters. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.