Hedge Funds Pile into Amazon with New Stakes and Holdings
Asset Allocation Strategies LLC has acquired new holdings in Amazon.com, Inc. (NASDAQ:AMZN) in its most recent filing with the Securities & Exchange Commission. The firm bought 4,437 shares of the e-commerce giant's stock, valued at approximately $1,058,000.
In addition to Asset Allocation Strategies, several other hedge funds have also added to or reduced their stakes in AMZN. Bank of America Corp DE acquired a new stake in Amazon.com in the 2nd quarter worth about $22,218,775,000, and Bank of New York Mellon Corp bought a new position in Amazon.com in the second quarter valued at approximately $16,341,405,000.
Amazon's revenue for the quarter was up 19.6% on a year-over-year basis, with the company reporting $5.75 EPS for the quarter, beating analysts' consensus estimates of $1.82 by $3.93. The firm had revenue of $200.61 billion for the quarter, compared to analyst estimates of $197.03 billion.