Key Takeaways
- Viking Global’s AMZN holdings surged from 1.2M to 3.7M shares in Q2 2026, while Bridgewater slashed its position by over half.
- Renaissance Technologies boosted its Amazon stake by 2.29M shares, representing approximately $546M in value.
- Pershing Square trimmed its holdings from 11.5M shares down to 8.6M; D1 Capital dramatically reduced from 1.81M to 628K shares.
- Q2 earnings showed Amazon generating $200.61 billion in revenue, marking a 19.6% year-over-year increase, with EPS of $5.75 crushing the $1.82 estimate.
- Goldman Sachs boosted its price target to $375, while the analyst consensus target stands at $322.56 with a “Moderate Buy” designation.
Shares of Amazon (AMZN) began Monday’s session at $262.65, trading within its 52-week range of $196.00 to $287.20. The e-commerce and cloud computing giant maintains a market capitalization of $2.83 trillion with a price-to-earnings ratio of 21.13.
Recently disclosed 13F filings for Q2 2026 paint a mixed picture of institutional sentiment toward AMZN. Major hedge funds took sharply different approaches, with some dramatically increasing exposure while others significantly reduced their stakes.
Viking Global emerged as the most aggressive buyer, expanding its position from 1.2M shares to 3.7Māmore than tripling its holdings. Duquesne delivered an even more dramatic percentage increase, surging from a modest 46K shares to 542K.
Baupost Group increased its Amazon stake from 3.12M to 3.74M shares. Appaloosa raised its position from 4.32M to 5M shares, while Altimeter Capital grew its holdings from 2.09M to 2.43M shares.
Renaissance Technologies emerged as another significant accumulator, purchasing an additional 2.29M shares worth approximately $546M. Lansdowne Partners, Discovery Capital, Corvex Management, and Glenview Capital similarly expanded their AMZN positions throughout the quarter.
Conversely, Bridgewater dramatically reduced its exposure, slashing its stake from 4.39M shares to 2.03Māa cut exceeding 50%. Pershing Square pulled back from 11.5M shares to 8.6M.
D1 Capital executed a sharp reduction from 1.81M to 628K shares. Soros Fund decreased its position from 1.95M to 1.18M shares, and Iconiq Capital drastically cut from 251K to merely 52K shares.
Tiger Global, Third Point, Meritage Group, and Scopia Capital joined the roster of funds trimming their Amazon exposure during Q2.
Quarterly Results Support Bullish Thesis
Amazon’s second-quarter performance provided substantial justification for bullish positioning. The company delivered revenue of $200.61 billion, representing a 19.6% year-over-year gain and surpassing the $197.03 billion analyst consensus.
Earnings per share of $5.75 significantly exceeded expectations of $1.82āa substantial outperformance. The company achieved a net margin of 17.44% alongside an 18.00% return on equity.
Amazon Web Services maintained its position as a critical growth engine, with market observers highlighting five consecutive quarters of accelerating expansion and a customer commitment pipeline stretching into 2028.
Wall Street Raises Price Objectives
Goldman Sachs elevated its Amazon price target to $375 from $335 on July 31st, maintaining a “buy” recommendation. Bank of America increased its target from $310 to $320, also with a “buy” stance. New Street Research lifted its target to $350.
Both Citigroup and Oppenheimer reaffirmed outperform ratings on the stock. Among 59 tracked analysts, 56 assign a “buy” rating, two recommend “hold,” and one rates it a “strong buy.” The consensus price target stands at $322.56.
Institutional ownership of Amazon stock represents 72.2% of shares outstanding. Company insiders disposed of 62,650 shares totaling $16.5 million in value during the past three months, all transactions executed through pre-established Rule 10b5-1 trading arrangements.
Analysts collectively project full-year earnings per share of $8.05.
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