Meritage Group LP Drops $367M on Amazon Stock Amid Institutional Buying Spree

Meritage Group LP has significantly invested in Amazon.com, Inc. (NASDAQ:AMZN), purchasing 1,542,397 shares valued at approximately $367,615,000 during the 2nd quarter.

This investment makes up 14.2% of Meritage Group LP's portfolio and is its second-largest position.

Amazon.com has seen significant institutional investments in recent quarters, with Bank of New York Mellon Corp acquiring a new position worth approximately $16,341,405,000.

The e-commerce giant reported a 19.6% increase in revenue during the last quarter and beat earnings expectations, with analysts predicting an annualized revenue run rate of $169 billion for its AWS segment.