Key Takeaways
- Viking Global expanded its Amazon holdings threefold, reaching 3.7M shares, while Bridgewater slashed its stake by over 50% in Q2 2026.
- Renaissance Technologies purchased an additional 2.29M Amazon shares valued at approximately $546M throughout the quarter.
- Pershing Square trimmed its holdings from 11.5M shares to 8.6M; D1 Capital dramatically reduced its position from 1.81M to 628K shares.
- The e-commerce giant reported Q2 revenue of $200.61 billion, representing a 19.6% year-over-year increase, with EPS of $5.75 significantly surpassing the $1.82 estimate.
- Goldman Sachs elevated its price target to $375, while the consensus target among analysts stands at $322.56 with a “Moderate Buy” recommendation.
Amazon (AMZN) stock began trading at $262.65 on Monday, positioned comfortably above its 52-week low of $196.00 while remaining under its peak of $287.20. The tech giant maintains a market capitalization of $2.83 trillion alongside a price-to-earnings ratio of 21.13.
The latest Q2 2026 13F regulatory filings painted a contrasting narrative among prominent hedge funds. While some institutional players aggressively increased their Amazon exposure, others substantially reduced or exited their positions entirely.
Viking Global emerged as the most aggressive accumulator, expanding its Amazon holdings from 1.2M shares to 3.7M sharesāmore than tripling its investment. Duquesne demonstrated an even more dramatic percentage increase, surging from a modest 46K shares to 542K.
Baupost Group increased its position from 3.12M to 3.74M shares. Appaloosa expanded its holdings from 4.32M to 5M shares, while Altimeter Capital raised its stake from 2.09M to 2.43M shares.
Renaissance Technologies emerged as another significant accumulator, purchasing 2.29M additional shares worth approximately $546M. Lansdowne Partners, Discovery Capital, Corvex Management, and Glenview Capital similarly expanded their Amazon holdings.
Conversely, Bridgewater slashed its position by more than half, reducing from 4.39M shares to 2.03M. Pershing Square decreased its holdings from 11.5M shares down to 8.6M.
D1 Capital dramatically reduced its position from 1.81M to 628K shares. Soros Fund decreased its stake from 1.95M to 1.18M shares, while Iconiq Capital made a sharp cut from 251K to merely 52K shares.
Tiger Global, Third Point, Meritage Group, and Scopia Capital similarly pared back their Amazon holdings throughout the quarter.
Robust Financial Performance Supports Bullish Sentiment
Amazon’s second-quarter financial results provided substantial ammunition for bullish investors. The company delivered revenue of $200.61 billion, marking a 19.6% year-over-year expansion and comfortably exceeding the analyst consensus of $197.03 billion.
Earnings per share reached $5.75, dramatically surpassing the $1.82 consensus estimate. This represents a substantial outperformance. The company achieved a net margin of 17.44% alongside an 18.00% return on equity.
Amazon Web Services remained a critical growth engine, with industry analysts highlighting five consecutive quarters of accelerating expansion and a customer commitment backlog extending through 2028.
Wall Street Elevates Price Projections
Goldman Sachs increased its price target to $375 on July 31st, up from its previous $335 objective, while maintaining a “buy” rating. Bank of America raised its target from $310 to $320, also with a “buy” designation. New Street Research established a $350 price target.
Citigroup and Oppenheimer both confirmed outperform ratings. Among 59 analysts providing coverage, 56 assign AMZN a “buy” rating, two recommend “hold,” and one maintains a “strong buy.” The consensus price target stands at $322.56.
Institutional ownership accounts for 72.2% of Amazon’s outstanding shares. Company insiders disposed of 62,650 shares worth $16.5 million during the past three months, all executed through pre-established Rule 10b5-1 trading arrangements.
Wall Street analysts collectively project full-year earnings per share of $8.05.
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