Palisade Capital Management LP Places $24 Million Bet on Amazon.com
Palisade Capital Management LP has taken a significant position in Amazon.com, Inc. (NASDAQ:AMZN) by purchasing 102,045 shares of the e-commerce giant's stock in the second quarter.
The value of these shares amounts to approximately $24.32 million, making it the fund's 19th biggest holding, comprising about 1.1% of its total holdings.
This purchase is part of a series of investments made by institutional investors and hedge funds in Amazon.com, with some notable examples including Bank of New York Mellon Corp, which bought a new stake valued at around $16.34 billion, and Auto Owners Insurance Co, which raised its stake by 27,376.7% in the fourth quarter.