{"id":11252,"date":"2023-08-12T06:49:25","date_gmt":"2023-08-12T06:49:25","guid":{"rendered":"https:\/\/isafespend.com\/investing\/prominent-investors-rekindle-affection-for-amazon-in-q2-as-stock-price-jumps\/"},"modified":"2023-08-12T06:49:25","modified_gmt":"2023-08-12T06:49:25","slug":"prominent-investors-rekindle-affection-for-amazon-in-q2-as-stock-price-jumps","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=11252","title":{"rendered":"Prominent investors rekindle affection for Amazon in Q2 as stock price jumps"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: An Amazon Prime truck is pictured as it crosses the George Washington Bridge on Interstate Route 95 during Amazon’s two-day “Prime Early Access Sale” shopping event for Amazon members in New York City, New York, U.S., October 11, 2022. REUTERS<\/span>
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By Svea Herbst-Bayliss<\/p>\n

NEW YORK (Reuters) – Several prominent investors including hedge fund Baupost Group and mutual fund giant Fidelity bought or increased their holdings in retailer Amazon.com (NASDAQ:) during the second quarter as its stock surge helped fuel Wall Street’s rally.<\/p>\n

Baupost Group owned 963,946 shares in Amazon on June 30, according to a regulatory filing made late on Friday. Soros Fund Management owned 769,061 Amazon shares at the end of the second quarter, representing an increase of more than 8% in its holdings. And Senator Investment Group boosted its ownership by 35% to hold 440,000 shares at the end of the quarter, their filing showed.<\/p>\n

Amazon’s stock price boomed during the pandemic when homebound shoppers relied on the retailer for toilet paper, groceries and much more. Then the share price tumbled 50% last year as many technology companies announced cuts and their stock prices skidded lower.<\/p>\n

Since January, Amazon’s stock price has surged 61% and it is one of a small number of stocks powering the ‘s 17% gain this year after a 20% drop last year.<\/p>\n

Friday’s filings are made by money managers to detail how much they owned in U.S. companies at the end of the second quarter. They are made public with a 45 day lag and while they are backward looking many investors scour them for trends.<\/p>\n

Mutual fund giant Fidelity, long a big owner of Amazon, increased its holdings by 1% to own 280,451,570 shares at the end of the second quarter, their filing showed. The filing did not break down which funds bought the shares.<\/p>\n

Investor GQG Partners LLC reported making a new investment and owning 15,476,122 shares at the end of the quarter.<\/p>\n

Asset managers must make their so-called 13-F filings with the Securities and Exchange Commission by the end of business on August 14 and the bulk of filings will become public on Monday.<\/p>\n

What investors who bought Amazon during the second quarter did not know yet was how well the company fared during those three months. It reported an 11% gain in second quarter revenue and topped analysts’ expectations when it reported earnings earlier this month. Management also pointed to a strong third quarter and the stock price rose on the earnings report. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: An Amazon Prime truck is pictured as it crosses the George Washington Bridge on Interstate Route 95 during Amazon’s two-day “Prime Early Access Sale” shopping event for Amazon members in New York City, New York, U.S., October 11, 2022. REUTERS By Svea Herbst-Bayliss NEW YORK (Reuters) – Several prominent investors including<\/p>\n","protected":false},"author":1,"featured_media":11253,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[32],"class_list":{"0":"post-11252","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing","8":"tag-featured"},"yoast_head":"\nProminent investors rekindle affection for Amazon in Q2 as stock price jumps | iSafeSpend<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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