5 Best E-Commerce Stocks to Invest In

Page 5 of 5

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

Number of Hedge Fund Holders: 278

Amazon.com, Inc. (NASDAQ:AMZN) tops the list of the best ecommerce stocks to buy according to hedge funds, which is unsurprising. Amazon.com, Inc. (NASDAQ:AMZN) recently reported Q3 results, beating estimates for EPS and revenue. However, Amazon.com, Inc. (NASDAQ:AMZN)’s Cloud business missed estimates for the quarter. Still, CEO Andy Jassy reaffirmed that he sees huge growth for AWS in the coming days.

A total of 278 hedge funds tracked by Insider Monkey had stakes in Amazon.com, Inc. (NASDAQ:AMZN) as of the end of the June quarter. The biggest stake in Amazon.com, Inc. (NASDAQ:AMZN) is owned by Natixis Global Asset Management’s Harris Associates which had a $2 billion stake in the company.

White Falcon Capital Management made the following comment about Amazon.com, Inc. (NASDAQ:AMZN) in its Q3 2023 investor letter:

“There are comparable narratives involving NU Holdings, Amazon.com, Inc. (NASDAQ:AMZN), and Teck Resources, to name a few holdings from the White Falcon portfolio. Amazon constructed its logistics network and cloud computing infrastructure using yesterday’s currency, but it is poised to capitalize on this network with the inflated dollars of tomorrow. In essence, we believe we hold wonderful businesses with growing revenue streams and potential for operating leverage – all at reasonable valuations.”

You can also take a peek at 11 Undervalued Mid Cap Stocks To Buy According to Analysts and 12 Most Important Holidays in the US.

Page 5 of 5