Mitch Rubin’s RiverPark Advisors Portfolio: Top 5 Stock Picks

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

RiverPark Advisors’ Stake Value: $28,908,000

Percentage of RiverPark Advisors’ 13F Portfolio: 271

Number of Hedge Fund Holders: 3.68%

Amazon.com, Inc. (NASDAQ:AMZN) is another top stock pick of RiverPark Advisors, with the investment firm owning 8,403 shares in the US tech giant, worth $28.9 million, representing 3.68% of the firm’s investment portfolio as of June this year. Amazon.com, Inc. (NASDAQ:AMZN) is a force to be reckoned with in the ecommerce, cloud computing, online streaming, and artificial intelligence sectors. 

Amazon.com, Inc. (NASDAQ:AMZN) announced Q3 earnings, and EPS for the quarter came in at $6.12, missing estimates by -$2.78. Revenue for the quarter was valued at $110.81 billion, missing estimates by -$784.89 million. 

Tigress Financial analyst Ivan Feinseth raised the price target on Amazon.com, Inc. (NASDAQ:AMZN) from $4,370 to $4,460, keeping a Buy rating on the stock. He believes that Amazon.com, Inc. (NASDAQ:AMZN) can tackle the supply chain hindrances and benefit from the overwhelming 2021 holiday season, and achieve strong sales in 2022 as well. 

As of the second quarter of 2021, 271 hedge funds tracked by Insider Monkey reported owning stakes in Amazon.com, Inc. (NASDAQ:AMZN), up from 243 in the preceding quarter. 

Here is what Polen Capital has to say about Amazon.com, Inc. (NASDAQ:AMZN) in its Q3 2021 investor letter:

“Amazon has also lagged as its revenue growth is slowing on the very difficult comparisons from last year when this behemoth was growing revenue by over 40%. We still expect exceptional long-term growth and significant margin expansion as the fastest growing (and now large) segments of Amazon are also generating the highest margins.”