Amazon.com, Inc. $AMZN Shares Bought by Summit Asset Management LLC

Summit Asset Management LLC lifted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 14.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,740 shares of the e-commerce giant’s stock after acquiring an additional 5,143 shares during the quarter. Amazon.com accounts for about 1.2% of Summit Asset Management LLC’s holdings, making the stock its 21st biggest position. Summit Asset Management LLC’s holdings in Amazon.com were worth $8,693,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. MilWealth Group LLC increased its position in shares of Amazon.com by 79.0% in the fourth quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant’s stock valued at $41,000 after buying an additional 79 shares in the last quarter. Lifetime Wealth Management P.C. purchased a new stake in shares of Amazon.com in the 4th quarter worth about $45,000. Elkhorn Partners Limited Partnership boosted its position in shares of Amazon.com by 900.0% in the 4th quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant’s stock worth $46,000 after buying an additional 180 shares in the last quarter. Fairway Wealth LLC grew its stake in Amazon.com by 95.6% in the 4th quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant’s stock valued at $51,000 after acquiring an additional 108 shares during the last quarter. Finally, Prudent Man Investment Management Inc. grew its stake in Amazon.com by 87.7% in the 4th quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant’s stock valued at $53,000 after acquiring an additional 107 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 6,370 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $262.39, for a total value of $1,671,424.30. Following the completion of the sale, the chief executive officer directly owned 486,527 shares in the company, valued at approximately $127,659,819.53. The trade was a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew R. Jassy sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $263.42, for a total transaction of $5,268,400.00. Following the transaction, the chief executive officer directly owned 2,205,766 shares of the company’s stock, valued at $581,042,879.72. This trade represents a 0.90% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 76,867 shares of company stock worth $20,253,702. Corporate insiders own 8.90% of the company’s stock.

Amazon.com News Roundup

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

• Positive Sentiment: AWS growth is strengthening the AI investment case. Second-quarter revenue rose 19.6% to $200.6 billion, while AWS revenue increased 37% and operating income rose sharply. Investors are increasingly confident that Amazon’s infrastructure spending is translating into cloud demand, margins and future revenue visibility. Amazon AWS growth article
• Positive Sentiment: Analysts remain constructive. Multiple firms have raised price targets, with reported targets generally above the current share price. A large AWS backlog and accelerating AI-related demand are supporting the bullish outlook. Amazon analyst targets and AWS backlog
• Positive Sentiment: AI monetization is broadening. Amazon’s investment in Anthropic and its OpenAI partnership could increase demand for AWS chips and infrastructure. Personalized recommendations and AI features in Prime Video may also improve engagement and create additional monetization opportunities. Amazon Prime Video AI article
• Neutral Sentiment: Recent momentum may be vulnerable to profit-taking. Short covering and strong post-earnings buying helped drive the recent rally, but some analysts have downgraded Amazon to more moderate recommendations as valuation and expectations rise. Amazon rating downgrade
• Negative Sentiment: Bezos’ planned sale is the main near-term overhang. The proposed disposal, valued at roughly $4 billion to $4.7 billion, increases potential supply and has been interpreted as a sentiment “buzzkill” immediately after the stock’s record high. Jeff Bezos Amazon share sale
• Negative Sentiment: Risks from spending and regulation remain. Amazon faces very large AI capital commitments, negative free cash flow and future data-center lease obligations. New Jersey also sued over alleged delivery-network wage suppression, while a court allowed Perplexity’s AI shopping tools to continue operating on Amazon’s platform, potentially increasing competitive and security concerns. Big Tech AI data-center lease obligations

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $320.00 target price (down from $330.00) on shares of Amazon.com in a research report on Friday. Scotiabank reiterated an “outperform” rating and issued a $325.00 price target (up from $275.00) on shares of Amazon.com in a research report on Thursday, April 30th. China Renaissance raised their price objective on shares of Amazon.com from $300.00 to $326.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. BNP Paribas Exane lifted their price objective on Amazon.com from $320.00 to $345.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Finally, William Blair reaffirmed an “outperform” rating on shares of Amazon.com in a research note on Thursday, April 9th. Fifty-six research 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $322.56.

Amazon.com Stock Performance

Amazon.com stock opened at $277.42 on Wednesday. The firm has a market capitalization of $2.99 trillion, a P/E ratio of 22.32, a PEG ratio of 1.81 and a beta of 1.45. The stock has a fifty day moving average price of $246.29 and a 200 day moving average price of $236.73. Amazon.com, Inc. has a 52 week low of $196.00 and a 52 week high of $287.20. The company has a current ratio of 1.03, a quick ratio of 0.87 and a debt-to-equity ratio of 0.23.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, July 30th. The e-commerce giant reported $5.75 earnings per share for the quarter, topping the consensus estimate of $1.82 by $3.93. Amazon.com had a return on equity of 18.00% and a net margin of 17.44%.The firm had revenue of $200.61 billion for the quarter, compared to the consensus estimate of $197.03 billion. During the same period in the prior year, the business posted $1.68 earnings per share. The firm’s revenue for the quarter was up 19.6% compared to the same quarter last year. Equities research analysts anticipate that Amazon.com, Inc. will post 8.39 earnings per share for the current year.

Amazon.com 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.