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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Amazon.com, Inc.    AMZN


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Hedge funds increased exposure to growth favorites in first quarter: Goldman

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05/22/2020 | 12:08pm EDT
FILE PHOTO:  Traders work on the floor of the NYSE in New York

Hedge funds concentrated their portfolios even further into growth stocks including Amazon.com Inc and Microsoft Corp in the first quarter of 2020 as the COVID-19 pandemic pummeled U.S. markets, Goldman Sachs analysts said in a report.

The two American multinationals saw the largest increase in hedge fund holdings, according to an analysis by the bank of 822 funds with 1.8 trillion in gross equity positions.

Along with Facebook Inc, Alphabet Inc's Google and China's Alibaba, they have been hedge funds' top five long positions for seven consecutive quarters, the report said.

Goldman Sachs said the focus on growth stocks, which tend to outperform the overall market, had supported recent hedge fund performance as Wall Street witnessed one of the quickest turns to a bear market amid a near-collapse in business activity.

From peak to trough, the S&P 500 slumped more than 35% in just 23 trading sessions, with investors ditching the so-called value stocks in favor of growth stocks.

Overall, funds also rotated further toward defensive sectors such as real estate, consumer staples and utilities as opposed to cyclicals.

Among sectors, Goldman Sachs said healthcare enjoyed the most net exposure, with funds also shifting to beneficiaries of the past two months' stay-at-home orders including online retail and internet services.

(Reporting by Shreyashi Sanyal in Bengaluru; Editing by Patrick Graham and Arun Koyyur)

Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING 1.01% 201.72 Delayed Quote.-4.89%
ALPHABET INC. 0.58% 1421.37 Delayed Quote.6.12%
AMAZON.COM, INC. -0.62% 2421.86 Delayed Quote.31.88%
DJ INDUSTRIAL 2.17% 24995.11 Delayed Quote.-14.27%
FACEBOOK -1.15% 232.2 Delayed Quote.13.13%
MICROSOFT CORPORATION -1.06% 181.57 Delayed Quote.16.37%
NASDAQ 100 -0.26% 9389.976886 Delayed Quote.7.80%
NASDAQ COMP. 0.17% 9340.220457 Delayed Quote.3.92%
S&P 500 1.23% 2991.77 Delayed Quote.-7.40%
THE GOLDMAN SACHS GROUP, INC. 8.96% 196.06 Delayed Quote.-14.73%
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Financials (USD)
Sales 2020 345 B
EBIT 2020 13 196 M
Net income 2020 9 620 M
Finance 2020 45 263 M
Yield 2020 -
P/E ratio 2020 127x
P/E ratio 2021 64,9x
EV / Sales2020 3,37x
EV / Sales2021 2,79x
Capitalization 1 208 B
Duration : Period :
Amazon.com, Inc. Technical Analysis Chart | AMZN | US0231351067 | MarketScreener
Technical analysis trends AMAZON.COM, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 50
Average target price 2 678,60 $
Last Close Price 2 421,86 $
Spread / Highest target 23,9%
Spread / Average Target 10,6%
Spread / Lowest Target -10,7%
EPS Revisions
Jeffrey P. Bezos Chairman, President & Chief Executive Officer
Brian T. Olsavsky Chief Financial Officer & Senior Vice President
Patricia Q. Stonesifer Independent Director
Thomas O. Ryder Independent Director
Jonathan Jake Rubinstein Lead Independent Director
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