Resolute Advisors Cuts Amazon Stake Amid Earnings Surge
A leading institutional investor, Resolute Advisors LLC, has reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 50.3% during the second quarter.
The company's most recent 13F filing with the Securities & Exchange Commission revealed that Resolute Advisors sold 3,167 shares of AMZN stock, leaving it with 3,132 shares at the end of the period.
This move comes as Amazon.com continues to post strong quarterly earnings and revenue growth, including a $5.75 EPS for the quarter, topping analysts' consensus estimates by $3.93.