Gables Capital Management Invests $5.50 Million in Amazon

Gables Capital Management Inc., an institutional investor, has made a new investment in Amazon.com, Inc. (NASDAQ:AMZN) worth $5.50 million. The company purchased 23,086 shares of Amazon's stock in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission.

This new stake in Amazon accounts for approximately 2.0% of Gables Capital Management Inc.'s portfolio, making it the 12th largest holding. The e-commerce giant has seen significant growth in its stock price, with shares opening at $256.78 on Monday.

Other institutional investors have also made adjustments to their holdings in Amazon. Northstar Financial Companies Inc. acquired a new stake in Amazon during the second quarter valued at approximately $3.38 million. Gryphon Financial Partners LLC grew its holdings in shares of Amazon by 7.5% during the first quarter.