Top 5 Stocks to Invest in Based on Traci Lerner’s Chescapmanager LLC’s Portfolio

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

Chescapmanager LLC Stake Value: $37.8 million
Percentage of Chescapmanager LLC’ 13F Portfolio: 4.15%
No. of Hedge Fund Holders: 271

Jeff Bezos incorporated the company as Cadabra in 1994 but changed the name to Amazon for the website launch in 1995. Amazon.com, Inc. (NASDAQ: AMZN) is a leading cloud services provider and the world’s largest online retailer. Initially a book seller, the company has evolved to sell a wide range of consumer items, digital media, and its own technological devices. The company stands 4th on our list of top stocks to buy according to Traci Lerner’s Chescapmanager LLC.

On September 14, investment advisory Evercore ISI maintained an Outperform rating on Amazon.com, Inc. (NASDAQ: AMZN) stock and increased the price target to $4,700 from $4,200, appreciating the company’s long-term growth outlook.

Our data shows that Crake Asset Management is one of the biggest stakeholders of Amazon.com, Inc. (NASDAQ: AMZN), with 68,500 shares worth $235.7 billion.

At the end of the second quarter of 2021, 271 hedge funds in the database of Insider Monkey held stakes worth $60.5 billion in Amazon.com, Inc. (NASDAQ: AMZN), up from 243 the preceding quarter worth $50.4 billion.

Here is what L1 Capital has to say about Amazon.com, Inc. in its Q2 2021 investor letter:

“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.”