IFS Group Buys into Amazon with $749K Stake
IFS Group LLC has made its presence known in Amazon's financial landscape by purchasing shares of the e-commerce giant. In the first quarter, IFS Group bought a new stake in Amazon.com, Inc. (NASDAQ:AMZN), acquiring 3,595 shares valued at approximately $749,000.
This is not an isolated incident; other hedge funds have also been buying into Amazon's stock. MilWealth Group LLC boosted its holdings by 79% in the fourth quarter and now owns 179 shares worth $41,000. Lifetime Wealth Management P.C. purchased a new stake during the same period, valued at around $45,000.
Amazon has seen significant growth in recent times, with earnings per share reaching $5.75 for the second quarter, beating analysts' estimates by $3.93. The company's quarterly revenue was up 19.6% compared to the same period last year.