Osterweis Capital Invests Heavily in Amazon Amid Strong Earnings
Osterweis Capital Management Inc., a prominent institutional investor, has made a significant new investment in Amazon.com, Inc. (NASDAQ:AMZN) during the second quarter.
The company purchased 252,721 shares of Amazon's stock, valued at approximately $60,234,000, making up about 2.8% of its investment portfolio and ranking as the fifth largest position.
This acquisition is part of a broader trend where various hedge funds and institutional investors have adjusted their stakes in AMZN. Auto Owners Insurance Co., for instance, boosted its position by an enormous 27,376.7% in the fourth quarter and now owns 98,448,885 shares valued at $2,272,397,000.
Amazon.com's recent quarterly earnings report showed a revenue of $200.61 billion, up 19.6% year-over-year, beating analysts' expectations. The company reported earnings per share (EPS) of $5.75 for the quarter, surpassing estimates by $3.93.