5 Best Stocks To Invest In Right Now According to Hedge Funds

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1. 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. A giant in the world of e-commerce, the company tops our list of the 15 best stocks to invest in right now.

On October 5, JPMorgan analyst Doug Anmuth reiterated an Overweight rating on Amazon.com, Inc. (NASDAQ:AMZN) alongside a $4,100 price target on its shares.

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. Of the hedge funds being tracked by Insider Monkey, Ken Fisher’s Fisher Asset Management is among the leading shareholders in Amazon.com, Inc. (NASDAQ:AMZN), with over 1.87 million shares worth $6.45 billion.

In its Q2 2021 investor letter, L1 Capital, an investment management firm, 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.”

You can also take a peek at 8 Best Stocks to Buy According to Billionaire Nicholas J. Pritzker and 10 Best Stocks to Buy According to Billionaire Daniel Sundheim.

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