Stocks
Gabelli Cuts Stake in Amazon Amid Rising Revenue
Gabelli Funds LLC recently reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN), selling 18,634 shares of the e-commerce giant's stock during the first quarter.
The firm now owns 614,887 shares of Amazon.com, making up about 0.9% of its holdings and ranking as its 13th largest position.
The value of Gabelli Funds LLC's holding in Amazon.com was approximately $128,063,000 at the end of the most recent quarter.
Norges Bank, on the other hand, purchased a new stake in shares of Amazon.com valued at about $32,868,735,000 during the fourth quarter. Other institutional investors like Auto Owners Insurance Co. and J. Stern & Co. LLP also significantly increased their holdings in Amazon.com during the same period.