Wall Street analysts boosted their price targets for
Amazon.com and Alphabet after strong quarterly earnings. Amazon
is the second most widely-held stock among hedge funds,
according to Goldman Sachs Group. It’s also the
second biggest short in the Standard & Poor’s
500 index, according to financial analytics firm S3 Partners.
David Einhorn’s Greenlight Capital, for example,
has a short bet against the e-commerce behemoth, whose shares
surged Friday, October 27.
UBS Group lifted its price target on Amazon to $1250, from
$1200, citing the surprise revenue growth that the company
reported October 26. The bank also said it is "deleting" its
fears about the company’s near-term margins. "For
investors, we continue to reiterate our stance that Amazon is a
core holding to gain exposure to secular growth trends in
e-commerce, cloud computing, media consumption, digital
advertising and AI (artificial intelligence) voice assistants,"
UBS said in a note. Credit Suisse, meanwhile, raised its price
target to $1385, from $1350, partly due to margin-related
factors. Shares of Amazon jumped more than 13 percent on
October 27 to close at $1100.95.
As for Alphabet, UBS raised its price target on the Google
parent’s "C" shares to $1165, from $1080, saying
the company’s quarterly results beat expectations
"across the board." The "C" shares of Alphabet, the third most
popular stock among hedge funds, jumped 4.8 percent on October
27 to close at $1019.27.
Shares of Microsoft Corp., the fourth most popular stock
held by hedge funds, surged 6.4 percent to close at $83.81 on
October 27, the day after the software giant released earnings
results that beat expectations for the first quarter of fiscal
reported that revenue at Microsoft’s
cloud business exceeded its own goal.
Steven Cohen’s family office, Point72 Asset
Management, said in a regulatory
filing that it owned 1.7 million shares of Oncosec Medical,
or 5.7 percent of the biotech company, as recently as October
25. At the end of the second quarter, Point72 did not own any
shares of the company, which is seeking new technologies to
stimulate the body’s immune system to attack
cancer. The firm’s holdings at the end of the
third quarter have not yet been disclosed.
O. Andreas Halvorsen’s Viking Global Investors
said in a
filing that it owned about 17.8 million shares of Parsley
Energy, or 7.2 percent of the company. The Tiger Cub did not
own any shares of Parsley in June, the latest period for which
U.S. stock holdings have been required to be disclosed.