William Blair Bets Big on Amazon with $473 Million Investment

William Blair Investment Management LLC has acquired a new stake in Amazon.com, Inc. shares worth approximately $473.6 million. The fund bought 1,987,085 shares of AMZN stock in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). This investment makes up about 1.4% of William Blair Investment Management LLC's portfolio, making Amazon.com its eighth-largest position.

The move comes as Amazon continues to face regulatory scrutiny over its marketplace rules that may restrict sellers from offering lower prices elsewhere. Additionally, investors remain concerned that the company's planned $220 billion in capital expenditures for 2026 could keep free cash flow negative. However, analysts point to accelerating AWS demand and a large cloud backlog, supporting expectations that AI-related infrastructure spending can translate into future sales.

Notably, Amazon CEO Matthew S. Garman sold 14,541 shares of the company's stock in August, while Senior Vice President David Zapolsky also sold 9,258 shares during the same period. Despite this insider selling, Amazon's stock has a consensus rating of 'Moderate Buy' and a price target of $321.19 from analysts.