Fairtree Asset Management Invests Heavily in Amazon.com Inc
Fairtree Asset Management Pty Ltd invested $13.15 million in Amazon.com Inc (NASDAQ: AMZN) during the second quarter, according to a recent disclosure with the Securities and Exchange Commission.
The fund acquired 55,160 shares of Amazon's stock, valued at approximately $13,147,000. This investment makes up about 5.0% of Fairtree Asset Management Pty Ltd's portfolio, making it the company's third-largest holding.
Amazon.com reported a revenue of $200.61 billion during the quarter, exceeding analysts' consensus estimate of $197.03 billion by 2.6%. The e-commerce giant's net margin was 17.44% and its return on equity was 18.00%, up from 19.6% year-over-year.
A number of equities analysts have issued reports on AMZN shares, with Truist Financial increasing its price objective to $350.00 and giving the stock a 'buy' rating.