Equitable Holdings Pours $180M into Amazon as Institutional Investors Flock
Equitable Holdings Inc., a financial services company, has made a new investment in Amazon.com, Inc. (NASDAQ:AMZN) worth $180.82 million. The purchase of 758,685 shares was disclosed in Equitable's most recent 13F filing with the Securities and Exchange Commission (SEC). This represents about 1.1% of Equitable Holdings' holdings and makes it the company's 19th largest position.
The investment is part of a larger trend of institutional investors buying into Amazon stock. Other notable investors include Bard Associates Inc., Longfellow Investment Management Co. LLC, Lifetime Wealth Management P.C., Prudent Man Investment Management Inc., and Strategic Wealth Advisors LLC.
Amazon's e-commerce business continues to grow, with its recent quarterly earnings exceeding analyst estimates. The company's AWS cloud computing division is also a significant contributor to its revenue growth. However, some investors are concerned about the potential risks associated with Amazon's increasing focus on artificial intelligence (AI) spending, which may outpace monetization.