Clear Harbor Pours $26 Million into Amazon Stock

Clear Harbor Asset Management LLC has taken a new position in Amazon.com, Inc. (NASDAQ:AMZN), purchasing 110,031 shares valued at approximately $26,225,000 during the second quarter.

This represents about 1.6% of Clear Harbor's holdings and makes AMZN its 14th biggest position among all the company's investments.

Several other institutional investors also bought Amazon.com shares in the first quarter, with Red Crane Wealth Management LLC increasing its stake by 2.3%, Robinson Smith Wealth Advisors LLC growing its position by 0.7%, Sfam LLC raising its stake by 3.4%, Measured Risk Portfolios Inc. expanding its holding by 3.4%, and CoreFirst Bank & Trust lifting its position by 1.1%.

Analysts have been optimistic about Amazon's prospects, with Wells Fargo & Company reiterating an 'overweight' rating and setting a $338 price target for the stock.