Jim Simons’ Quant Hedge Fund Is Selling These 5 Stocks

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

Number of Hedge Fund Holders: 242

Renaissance Technologies held 147,655 shares of Amazon.com, Inc. (NASDAQ:AMZN), the e-commerce and tech giant, in the second quarter of 2021. The hedge fund sold out of the $492 million position completely in Q3 2021. 

Publishing its Q4 results on February 3, Amazon.com, Inc. (NASDAQ:AMZN) reported earnings per share of $27.75, beating estimates by $24.09. Revenue for the period equalled $137.41 billion, missing estimates by $173.16 million. 

Citi analyst Jason Bazinet on February 9 raised the price target on Amazon.com, Inc. (NASDAQ:AMZN) to $4,115 from $4,100 and kept a Buy rating on the shares after the company’s Q4 results. The analyst continues to see “ample room for growth” in Amazon.com, Inc. (NASDAQ:AMZN)’s B2B services.

Among the hedge funds monitored by Insider Monkey in Q3 2021, 242 funds were bullish on Amazon.com, Inc. (NASDAQ:AMZN), with stakes totalling $42.5 billion. Eagle Capital Management held a significant stake in the company during the third quarter, with 701,852 shares worth $2.30 billion. 

Here is what Weitz Investment Management, Inc. has to say about Amazon.com, Inc. (NASDAQ:AMZN) in its Q4 2021 investor letter:

“Several “platform” companies thrived during COVID and have been very strong stocks. In 2021, their businesses continued to thrive, though their stock prices cooled off. Amazon continues to steamroll the competition and grow rapidly, but its stock ended the year about where it began.”

You can also take a look at 10 Energy Stocks to Buy According to Billionaire Bruce Kovner’s Caxton Associates and Top 10 Stock Picks of Mick Hellman’s HMI Capital.

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