Institutional Investors Flock to Amazon Despite Price Pressures

Kelly Lawrence W & Associates Inc. CA has acquired a new position in Amazon.com, Inc., purchasing 52,710 shares valued at approximately $12,563,000 during the second quarter.

This marks about 2.7% of Kelly Lawrence W & Associates Inc. CA's portfolio, making it their 12th largest holding. Other institutional investors have also modified their holdings in Amazon.com, with Sone Capital Management LLC purchasing a new stake worth $27,118,000 and Trajan Wealth LLC buying a new position valued at $75,253,000.

Amazon has reported strong earnings, beating consensus estimates by $3.93 per share for the quarter. The company's revenue was up 19.6% compared to the same period last year, with analysts forecasting an 8.01 EPS for the current fiscal year.