Oppenheimer Asset Management Invests $129 Million in Amazon

Oppenheimer Asset Management Inc., a prominent institutional investor, has made a significant investment in Amazon.com, Inc. (NASDAQ:AMZN). According to the company's most recent 13F filing with the Securities & Exchange Commission, Oppenheimer bought approximately 543,209 shares of Amazon's stock, valued at around $129,468,000.

This represents one of the largest investments in Amazon by Oppenheimer Asset Management Inc., accounting for about 1.3% of their investment portfolio and making it their ninth biggest position.

Amazon has been a strong performer lately, with revenue up 19.6% year over year and EPS substantially above expectations. The company's valuation appears attractive to some investors, with a roughly 21 P/E ratio below the premium multiples historically assigned to Amazon and its peers.