M.D. Sass Doubles Down on Amazon
M.D. Sass LLC significantly increased its stake in Amazon.com, Inc. (NASDAQ:AMZN) during the first quarter, according to a recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired an additional 96,499 shares of the e-commerce giant's stock, bringing its total holdings to 263,973 shares. This represents a 57.6% increase in M.D. Sass LLC's stake in Amazon.com.
Amazon.com makes up approximately 4.2% of M.D. Sass LLC's portfolio, making it the company's 12th biggest holding. The firm's holdings in Amazon.com were worth $54,978,000 as of its most recent SEC filing.
This is not the only significant investment in Amazon.com from large investors during the first quarter. Brighton Jones LLC increased its stake in the e-commerce giant by 10.9% and Revolve Wealth Partners LLC boosted its position by 4.1%. Bank Pictet & Cie Europe AG also grew its holdings in Amazon.com by 2.8%, while Highview Capital Management LLC DE increased its stake by 5.5%.
Despite the significant increase in M.D. Sass LLC's stake, other large investors have sold shares of Amazon.com recently. Jeff Bezos plans to sell roughly 15 million shares valued near $4 billion, and Amazon CEO Douglas Herrington sold 1,000 shares under a pre-arranged Rule 10b5-1 plan.