Lombard Odier Cuts Amazon Stake by Nearly 60% Amid Market Shifts
Lombard Odier Asset Management Europe Ltd reduced its stake in Amazon.com by nearly 60% during the first quarter, according to a recent disclosure. The firm owned approximately 96,983 shares of Amazon's stock after selling 142,841 shares. This represents around 1.1% of Lombard Odier's portfolio and makes it the company's 21st largest holding.
The value of its Amazon holdings was $20,199,000 at the end of the quarter. Other institutional investors have also made significant changes to their stakes in Amazon during this period. Norges Bank purchased a new stake valued at approximately $32,868,735,000, while Auto Owners Insurance Co raised its position by 27,376.7% and now owns 98,448,885 shares.
J. Stern & Co. LLP also increased its holdings in Amazon by 20,598.0%, bringing its total to 87,982,814 shares. These changes reflect a significant shift in investor sentiment towards the e-commerce giant, which has seen its stock price fluctuate over the past year.