Patron Partners Acquires $6.7M Stake in Amazon.com
Patron Partners LLC has acquired a new position in Amazon.com, Inc. (NASDAQ:AMZN) shares in the second quarter, according to its recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 28,088 shares of AMZN's stock, valued at approximately $6,694,000. This represents about 2.6% of Patron Partners LLC's investment portfolio, making it the company's 7th biggest position.
Other institutional investors and hedge funds have also modified their holdings of AMZN in the second quarter. OneAscent Wealth Management LLC bought a new position worth around $902,000, while OneAscent Family Office LLC and OneAscent Financial Services LLC acquired stakes valued at about $2,441,000 and $10,190,000, respectively.
Amazon.com's stock has been trading up 2.1% since the start of the day, opening at $251.19 on Friday. The e-commerce giant reported earnings per share (EPS) of $5.75 for the quarter, beating analyst estimates by $3.93. The company's revenue was up 19.6% compared to the same quarter last year.