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Parallel Advisors Boosts Amazon Stake Amid E-Commerce Growth

Guavy AI Editorial Team
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AMZN
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Parallel Advisors LLC increased its stake in Amazon.com (NASDAQ:AMZN) by 2.2% during the first quarter, according to a recent SEC filing. The company now owns approximately 1.5% of Parallel Advisors' holdings, making it their 10th largest holding.

The institutional investor bought an additional 8,783 shares during the quarter, bringing its total holdings in Amazon.com to 409,554 shares worth $85,298,000 as of its most recent filing with the SEC.

Amazon's e-commerce business continues to grow, with a 19.6% increase in revenue compared to the same period last year. The company reported earnings per share of $5.75 for the quarter, exceeding analysts' estimates by $3.93.

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