Amazon Sees Big Bets from Institutional Investors

Evolve Private Wealth LLC made headlines this quarter by acquiring a new stake in Amazon.com, Inc. (NASDAQ:AMZN) valued at approximately $17,251,000. The institutional investor purchased 72,380 shares of the e-commerce giant's stock, which comprises about 1.1% of Evolve Private Wealth LLC's holdings.

The company is not alone in its investment in Amazon.com. Several other hedge funds and institutional investors have also added to or reduced their stakes in the company this quarter.

Some analysts remain bullish on Amazon.com, with Wolfe Research reiterating an 'outperform' rating and setting a price target of $315.00 per share. However, others have expressed concerns about the company's planned capital expenditures, which could keep free cash flow negative.