Amazon.com, Inc. $AMZN Shares Sold by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. cut its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 16.3% in the fourth quarter, HoldingsChannel reports. The fund owned 17,746,116 shares of the e-commerce giant’s stock after selling 3,445,272 shares during the quarter. Amazon.com accounts for 2.6% of T. Rowe Price Investment Management Inc.’s portfolio, making the stock its 5th biggest holding. T. Rowe Price Investment Management Inc.’s holdings in Amazon.com were worth $4,096,159,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. WealthPoint Financial LLC purchased a new position in Amazon.com in the fourth quarter valued at about $456,000. Van Diest Capital LLC bought a new position in Amazon.com during the fourth quarter valued at approximately $1,898,000. Compound Planning Inc. lifted its stake in Amazon.com by 31.6% in the fourth quarter. Compound Planning Inc. now owns 233,958 shares of the e-commerce giant’s stock valued at $54,002,000 after acquiring an additional 56,233 shares during the last quarter. Claris Financial LLC acquired a new stake in Amazon.com in the fourth quarter valued at approximately $2,579,000. Finally, TMB Capital Partners LLC bought a new stake in Amazon.com in the fourth quarter worth approximately $2,662,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Trading Up 2.9%

Amazon.com stock opened at $244.39 on Friday. Amazon.com, Inc. has a 52 week low of $196.00 and a 52 week high of $278.56. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.18. The firm has a market capitalization of $2.63 trillion, a PE ratio of 29.23, a PEG ratio of 1.78 and a beta of 1.44. The business’s 50-day simple moving average is $256.04 and its 200-day simple moving average is $234.05.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share for the quarter, beating the consensus estimate of $1.63 by $1.15. The firm had revenue of $181.52 billion during the quarter, compared to the consensus estimate of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.59 EPS. Equities research analysts forecast that Amazon.com, Inc. will post 7.71 earnings per share for the current year.

More Amazon.com News

Here are the key news stories impacting Amazon.com this week:

• Positive Sentiment: Amazon is exploring selling Trainium AI chips to external data-center customers, which could open a new revenue stream and strengthen its position in AI infrastructure. Amazon CEO Jassy says company could sell AI chips, raising stakes for Nvidia, AMD
• Positive Sentiment: Amazon’s planned $10 billion Missouri data center buildout underscores rising AI infrastructure demand and suggests stronger AWS growth ahead. Should Amazon’s US$10 Billion Missouri AI Bet and Trainium Chip Sales Shift AMZN’s Cloud Narrative?
• Positive Sentiment: Bank of America reiterated a Buy rating and a $310 price target, framing Alexa+ and Prime Day as potential catalysts for adoption and sales growth. Amazon’s Alexa AI Could Be The Real Prime Day Winner: Analyst
• Positive Sentiment: Prime Day is expected to generate nearly $22 billion in gross merchandise value, offering a near-term retail lift and a showcase for Amazon’s AI shopping tools. Amazon Prime Day expected to generate nearly $22B in sales
• Positive Sentiment: Alexa+ is expanding internationally, including full rollout in Canada and availability in Brazil, which supports Amazon’s consumer AI monetization story. Here’s Why Amazon.com, Inc. (AMZN) is a Top Growth Stock to Buy According to Ray Dalio’s Bridgewater
• Positive Sentiment: Amazon’s AWS unit won new business as Zelis selected AWS to automate healthcare pricing and payments, showing continued enterprise cloud momentum. Zelis Picks AWS to Automate Healthcare Pricing and Payments

Insider Buying and Selling

In related news, CEO Matthew S. Garman sold 15,467 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $263.40, for a total transaction of $4,074,007.80. Following the completion of the transaction, the chief executive officer directly owned 14,159 shares in the company, valued at $3,729,480.60. This represents a 52.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Shelley Reynolds sold 2,363 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $262.38, for a total transaction of $620,003.94. Following the completion of the sale, the vice president directly owned 119,780 shares of the company’s stock, valued at approximately $31,427,876.40. This trade represents a 1.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 195,774 shares of company stock valued at $51,614,434 in the last ninety days. Company insiders own 8.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Pivotal Research restated a “buy” rating and set a $320.00 price target (up from $300.00) on shares of Amazon.com in a report on Thursday, April 30th. Barclays reissued an “overweight” rating on shares of Amazon.com in a research report on Tuesday, June 9th. Weiss Ratings raised Amazon.com from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. BNP Paribas Exane upped their price target on Amazon.com from $320.00 to $345.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Finally, Scotiabank reissued an “outperform” rating and set a $325.00 price objective (up from $275.00) on shares of Amazon.com in a report on Thursday, April 30th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $312.78.

Amazon.com Company Profile

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.