Stocks
Wedgewood Boosts Amazon Stake Amid Bullish Outlook
Wedgewood Partners Inc., a hedge fund managed by David Rolfe, has significantly increased its stake in Amazon.com, Inc. (AMZN) by acquiring 35,533 additional shares.
This move comes as Spark's AI Analyst, TipRanks' analyst, views AMZN as an 'Outperform' stock due to the company's improving profitability and returns, as well as strong trend strength versus major moving averages.
The Outperform rating is tempered by negative TTM free cash flow and management's large capital expenditure plan that can impact cash generation and margins in the near term. The valuation of AMZN appears fair at a price-to-earnings ratio of 21.6.