Growth Stock Portfolio: 5 Stock Picks By Hedge Funds

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

Number of Hedge Fund Holders: 252

P/E Ratio as of November 3: 84.70

Amazon.com, Inc. (NASDAQ:AMZN) is an American multinational technology conglomerate specializing in e-commerce, cloud computing, AI, advertising, and digital streaming. Amazon.com, Inc. (NASDAQ:AMZN) is one of the top picks of hedge funds for a growth stock portfolio. Insider Monkey’s data shows that 252 funds were bullish on Amazon.com, Inc. (NASDAQ:AMZN) at the end of Q2 2022, compared to 271 in the prior quarter. 

Tigress Financial analyst Ivan Feinseth on November 2 reiterated a Buy rating on Amazon.com, Inc. (NASDAQ:AMZN) but lowered the price target on the shares to $192 from $232. The analyst said that the updated price target factors in a re-rating of valuation and growth rate adjustments. He views the recent pullback in Amazon.com, Inc. (NASDAQ:AMZN) stock as a “major” buying opportunity.

According to Insider Monkey’s database, Ken Fisher’s Fisher Asset Management held a significant position in Amazon.com, Inc. (NASDAQ:AMZN) during the second quarter of 2022, comprising 48.6 million shares worth $5.16 billion. 

Polen Capital made the following comment about Amazon.com, Inc. (NASDAQ:AMZN) in its Q3 2022 investor letter:

“At an individual company level, the top three absolute contributors were Amazon.com, Inc. (NASDAQ:AMZN), ADP, and Autodesk. Amazon reported better-than-expected earnings during the quarter driven by robust earnings and margins in AWS, its cloud division. The company also posted positive numbers for advertising in the face of a tough environment for the sector.”

Follow Amazon Com Inc (NASDAQ:AMZN)

You can also take a look at 15 Countries That Consume The Most Alcohol and 10 Best Rebound Stocks To Buy Now.

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