Amazon Attracts New Investor as Earnings Continue to Impress
Arrowroot Family Office LLC, a private investment firm, has made a new investment in Amazon.com, Inc. (NASDAQ:AMZN). In its most recent Form 13F filing with the Securities & Exchange Commission, Arrowroot reported acquiring 7,098 shares of Amazon's stock in the second quarter, valued at approximately $1,692,000.
This is not an isolated instance of investment in Amazon; other hedge funds and institutional investors have also increased their stakes in the company. Norges Bank acquired a new position in Amazon during the fourth quarter worth $32,868,735,000. Auto Owners Insurance Co grew its holdings in shares of Amazon by 27,376.7% during the fourth quarter, now owning 98,448,885 shares valued at $2,272,397,000.
Amazon's financials have been impressive, with the company reporting $5.75 earnings per share for the most recent quarter, surpassing analysts' consensus estimates of $1.82 by $3.93. The e-commerce giant's revenue was up 19.6% compared to the same quarter last year.