5 Technology Stock Picks of John Kim’s Night Owl Capital

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

Night Owl Capital’s Stake Value: $50.18 million

Percentage of Night Owl Capital’s 13F Portfolio: 8.8%

Number of Hedge Fund Holders: 242

On December 2, UBS analyst Kunal Madhukar initiated coverage of Amazon.com, Inc. (NASDAQ:AMZN) with a Buy rating and a price target of $4,700.

Among the 867 hedge funds tracked by Insider Monkey, 242 funds held stakes in Amazon.com, Inc. (NASDAQ:AMZN) worth $42.55 billion in the third quarter.

According to the database of Insider Monkey, Washington-based Fisher Asset Management is the leading shareholder in Amazon.com, Inc. (NASDAQ:AMZN) with 1.93 million shares worth $6.34 billion, representing 3.94% of the portfolio.

Amazon.com, Inc. (NASDAQ:AMZN) was mentioned in the third quarter 2021 investor letter of Davis Funds. Here is what it said:

“E-commerce, online search and advertising, social media and software are another component of the portfolio that have proven, attractive businesses. The online portion of the Fund is currently dominated by such market leaders as Amazon.com. We are attracted to these names based on the size and rapid expansion of their market opportunities globally, their ability to generate and grow new revenue sources through constant innovation, ample operating leverage as they continue to scale and capable, focused, highly competitive leadership teams. If purchased at sensible prices, these types of businesses in our experience can contribute meaningfully to long-term results.”