In its latest SEC filing, Steinberganna Wealth Management disclosed the acquisition of 6,893 shares of Amazon.com, Inc. during the third quarter, representing a new 0.7% allocation in its portfolio and ranking as its 28th largest holding. The investment, valued at approximately $1.51 million, underscores the boutique firm’s strategic entry into the e-commerce and cloud computing leader after previously having no exposure to the stock.

Several large asset managers reshaped their Amazon.com holdings in the second quarter. Vanguard Group increased its position by 2.1%, adding 17.45 million shares to reach 849.72 million shares; State Street boosted its stake by 1.4% with an incremental 5.16 million shares for a total of 374.10 million; Geode Capital Management added 3.72 million shares (a 1.7% gain) to own 216.72 million; and Kingstone Capital Partners Texas executed an extraordinary 542,734% increase, purchasing 132.62 million shares to hold 132.64 million in total. Meanwhile, Norway’s central bank initiated a new position valued at $27.44 billion, contributing to an overall 72.2% institutional ownership rate.

During November, two senior insiders reduced their Amazon.com holdings. Director Daniel P. Huttenlocher sold 1,237 shares for roughly $280,317, trimming his direct ownership to 26,148 shares (down 4.52%). CEO Andrew R. Jassy divested 19,872 shares for about $4.31 million, reducing his stake to 2.21 million shares (a 0.89% decrease). Combined insider disposals over the past three months totaled 79,734 shares worth $18.53 million, representing 9.7% of total insider ownership.

Amazon.com’s third-quarter results, released October 30th, delivered $1.95 EPS versus consensus of $1.57, with revenues of $180.17 billion topping estimates of $177.53 billion and reflecting 13.4% year-over-year growth. Net margin stood at 11.06% and return on equity at 23.62%. Following these metrics, five research firms raised their price targets between late October and early January, with consensus moving to a Moderate Buy and an average target of 295.42, reflecting confidence in the company’s cloud and retail expansion.