Quantbot Takes a $14.69 Million Stake in Amazon Amidst Rising Cloud Demand
Quantbot Technologies LP has made a significant investment in Amazon.com, Inc. (NASDAQ:AMZN) by purchasing 61,627 shares of its stock during the second quarter.
The value of this new stake is approximately $14.69 million and accounts for about 0.6% of Quantbot's holdings, making it the company's eleventh largest position.
This investment comes amidst positive sentiment towards Amazon, with several analysts issuing buy ratings and setting high price targets due to accelerating demand for its cloud services and expanding same-day delivery network.