Amazon Stake Increased by 10.3% as Earnings Boost Stock Price

Financial news source MarketBeat reported that Flputnam Investment Management Co. increased its stake in Amazon.com, Inc. by 10.3% during Q2. The fund's holdings in Amazon now account for 1.9% of its investment portfolio and are valued at $162,341,000.

In the same period, other institutional investors also bought or sold shares of AMZN. MilWealth Group LLC raised its stake by 79.0%, while Elkhorn Partners Limited Partnership increased its holding by 900.0% in Q4.

Despite this growth, Amazon's stock has been affected by negative sentiment surrounding AI spending and price-fixing allegations. However, the company's strong earnings report for Q2, which exceeded analysts' expectations with $5.75 EPS, helped boost the stock price.