Stocks
Rakuten Securities Acquires New Stake in Amazon
Rakuten Securities Inc., an investment firm, has taken a new position in Amazon.com, Inc. (NASDAQ:AMZN), acquiring approximately $2.875 million worth of shares.
The purchase included 12,062 shares of Amazon's stock, which now comprises about 0.7% of Rakuten Securities' portfolio.
This move follows other recent investments by institutional investors in the e-commerce giant, with Red Crane Wealth Management LLC and Robinson Smith Wealth Advisors LLC increasing their stakes in the company during the first quarter.
Amazon's stock has seen various analyst ratings and price targets, including a $320.00 target from Cantor Fitzgerald and a 'buy' rating from Bank of America, as well as a $350.00 target from TD Cowen.