Mark Cuban Stock Portfolio: 5 Stocks To Buy Now

Page 5 of 5

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

Number of Hedge Fund Holders: 252    

Amazon.com, Inc. (NASDAQ:AMZN) engages in the retail sale of consumer products and subscriptions in North America and internationally. On November 29, Amazon unveiled several updates at its annual AWS re: Invent cloud computing conference, including new data and security services, new AWS-designed chips and more. Cuban started buying the stock in 2019 when it was trading at around half the price it is at presently. Cuban said he bought $1 billion in the stock during the time. The bet appears to have paid off handsomely. 

On November 22, Piper Sandler analyst Thomas Champion maintained an Overweight rating on Amazon.com, Inc. (NASDAQ:AMZN) stock and lowered the price target to $119 from $125, highlighting the company’s third-quarter results with a focus on Web Services.   

At the end of the third quarter of 2022, 252 hedge funds in the database of Insider Monkey held stakes worth $30 billion in Amazon.com, Inc. (NASDAQ:AMZN), compared to 271 in the preceding quarter worth $48 billion.

In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Amazon.com, Inc. (NASDAQ:AMZN) was one of them. Here is what the fund said:

“Amazon.com, Inc. (NASDAQ:AMZN) is the world’s largest retailer and cloud services, provider. Shares of Amazon declined 35% in the quarter due to weaker-than-expected profits resulting from the overcapacity of resources coming out of COVID. We expect Amazon to grow its retail capacity in the quarters to come, which would enable it to improve profitability accordingly. Amazon remains one of our largest holdings due to its durable competitive advantages with a leading position in multiple trillion-dollar markets with a long runway for growth (…read more)

You can also take a peek at 11 Best Micro-cap Dividend Stocks To Buy and 15 Best E-Commerce Stocks To Buy.

Page 5 of 5