Renaissance Technologies, one of the most successful hedge funds globally, is a leading authority in stock investing and trading. 

‍

‍

With annualized returns over the past 20 years exceeding 30%, Renaissance's portfolio moves are a goal postfor those seeking the best stocks and top stock picks for 2024.

‍

‍

In a strategic adjustment, Renaissance Technologies decreased its holdings in Amazon.com Inc (AMZN) by 546,428 shares, a -13% reduction, lowering the total shares from 4,296,466 in Q4 2023 to 3,750,038 in Q1 2024. 

‍

‍

Despite the decrease in the number of shares, the value of the holdings increased by 4%, from $652,806,000 to $676,432,000. 

‍

‍

This increase in value despite fewer shares indicates a strong performance in Amazon’s stock price, reflecting the hedge fund's effective strategy in maintaining and enhancing the value of its investment in the e-commerce giant.

‍

What were Amazon's Last Earnings in the Earnings Report?

‍

Amazon.com, Inc. reported its first-quarter financial results for 2024, showcasing substantial growth and continued profitability. Here are the key highlights from their Q1 2024 earnings report:

‍

Revenue: Amazon's revenue for Q1 2024 reached $143.31 billion, a 12.53% increase year-over-year. This growth was driven by strong performance across various segments of the company.

‍

Net Income and EPS: The company reported net income of $10.43 billion, representing a significant increase of 228.85% year-over-year. Diluted earnings per share (EPS) came in at $0.98, marking a 216.13% rise compared to the previous year.

‍