Oak Ridge Investments Cuts Exposure to Amazon.com Amid Ongoing Growth

Oak Ridge Investments LLC decreased its position in Amazon.com by 70.6% during the second quarter, according to a recent disclosure with the Securities and Exchange Commission.

The fund owned 102,773 shares of Amazon's stock after selling 246,679 shares during the period. This makes Amazon its 14th biggest holding, accounting for approximately 1.4% of Oak Ridge Investments LLC's portfolio, which was worth $24,495,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of Amazon.com. Red Crane Wealth Management LLC increased its holdings in Amazon by 2.3% in the first quarter. Robinson Smith Wealth Advisors LLC lifted its holdings in Amazon by 0.7% during the first quarter. Sfam LLC boosted its position in Amazon by 3.4% during the first quarter.

The e-commerce giant reported $5.75 earnings per share for the quarter, beating analysts' expectations of $1.82 by $3.93. Revenue was up 19.6% compared to the same period last year. Amazon's CEO Andrew Jassy sold 20,000 shares of the firm's stock in a transaction on August 21st.