Amazon.com Stake Boosted by Sound Income Strategies LLC Amid Strong Demand

Sound Income Strategies LLC, an institutional investor, increased its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 3.8% during the second quarter. The firm acquired 2,389 additional shares of the e-commerce giant's stock, bringing its total holdings to 65,290 shares worth $15,561,000 as of its most recent SEC filing.

Amazon.com has been a subject of interest among institutional investors and hedge funds. Trust Asset Management LLC boosted its holdings in Amazon by 3.3% during the same quarter, while MilWealth Group LLC increased its stake by 79.0% during the fourth quarter.

Wall Street analysts have also been weighing in on AMZN shares. Citizens Jmp reaffirmed a 'market outperform' rating and set a $315 price target, while Raymond James Financial restated an 'outperform' rating with a higher price target of $390. The average analyst rating for Amazon.com is currently 'Moderate Buy', with an average price target of $322.39.