Petra Financial Advisors Invests $524K in Amazon.com Amid Strong Q2 Growth

Petra Financial Advisors Inc., an institutional investor, recently invested $524,000 in Amazon.com, Inc. (NASDAQ:AMZN) by buying 2,200 shares of its stock.

This investment is part of a larger trend where various hedge funds and other institutional investors have increased their holdings in AMZN. In the second quarter, Petra Financial Advisors Inc. purchased a new stake in Amazon.com, according to its most recent filing with the Securities & Exchange Commission.

Norges Bank purchased a new position in Amazon.com worth approximately $32,868,735,000 in the fourth quarter. Auto Owners Insurance Co. grew its position in shares of Amazon.com by 27,376.7% in the fourth quarter, owning 98,448,885 shares valued at $2,272,397,000.

The e-commerce giant has a market capitalization of $2.79 trillion and a price-to-earnings ratio of 20.80. Amazon.com reported strong quarterly growth, with revenue up 19.6% year over year and EPS substantially above expectations.