Top 5 Stock Picks of Claar Advisors

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

Claar Advisors LLC’s Stake Value: $17.6 million
Percentage of Claar Advisors LLC’s 13F Portfolio: 6.9%
No. of Hedge Fund Holders: 252

Amazon.com, Inc. (NASDAQ:AMZN) is a leading online retailer and one of the highest-grossing e-commerce aggregators. In each of its segments, the company serves its primary customer sets, which consist of consumers, sellers, developers, enterprises, and content creators.

In the second quarter of 2022, the company’s net sales increased 7% to $121.2 billion, compared with $113.1 billion in the second quarter of 2021. In Q3 2022, the company expects its sales to come between $125.0 billion- $130.0 billion, or to grow between 13% and 17% year-over-year.

MKM Partners covered Amazon.com, Inc. (NASDAQ:AMZN) and reduced their price objective on the company’s stock from $180.00 to $165.00 on 25^th July.

CFO Brian T. Olsavsky sold off 761 shares of the company’s stock on 23^rd May. This was done at an average price of $2,169.22, for a total consideration of $1,650,776.42. As a result of the sale, CFO now owns 2,375 shares in Amazon.com, Inc. (NASDAQ:AMZN), valued at around $5,151,897.50.

Insider Monkey was able to spot 252 hedge funds that were long Amazon.com, Inc. (NASDAQ:AMZN) at the end of Q2 2022. The collective stakes of these hedge funds were $30.07 billion, compared to $48.02 billion a quarter ago with 271 positions.

Alger Capital, an investment management company, mentioned Amazon.com, Inc. (NASDAQ:AMZN) in its second quarter investor letter. Here is what the fund said:

“Amazon.com, Inc. (NASDAQ:AMZN) detracted from portfolio performance in part due to poor operating profit and concerns about future margins. The company disclosed that its first quarter retail revenues increased 3% relative to Q1 2021 due to increased online shopping last year during the COVID-19 pandemic restrictions fueled by direct-to-consumer fiscal stimulus payments. This growth met an estimate from a consensus of analysts at financial services firms, according to FactSet. For the first quarter, however, amazon.com reported $3.7 billion in operating profit versus $5.3 billion anticipated by a consensus estimate. This substantial miss was driven by increased fuel and international shipping expenses, increased staffing due to hiring for employees who were sick with covid-19 and fulfillment center capacity buildout that is now becoming better utilized. These factors resulted in shares of amazon.com underperforming during the second quarter.”