Centaurus Financial Acquires New Stake in Amazon Worth $46 Million

Centaurus Financial Inc., a financial institution, recently acquired a new stake in Amazon.com, Inc. (NASDAQ:AMZN) during the second quarter. The firm purchased 193,412 shares of Amazon's stock, worth approximately $46,098,000. This investment accounts for about 1.8% of Centaurus Financial Inc.'s investment portfolio and makes it the company's 9th largest holding.

Other institutional investors also increased their stakes in Amazon.com during the second quarter. Auto Owners Insurance Co. boosted its stake by 27,376.7%, while Bank of America Corp DE and Bank of New York Mellon Corp acquired new positions worth $22,218,775,000 and $16,341,405,000 respectively.

Amazon's stock price has been affected by various factors in the past few weeks. The company reported strong earnings per share (EPS) of $5.75 for the quarter, beating analysts' estimates. However, some investors are concerned about AI spending outpacing monetization and its potential impact on Amazon's valuation.