Amazon.com, Inc. $AMZN Holdings Reduced by Cohen Klingenstein LLC

Cohen Klingenstein LLC lowered its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 3.4% in the 1st quarter, Holdings Channel reports. The firm owned 521,124 shares of the e-commerce giant’s stock after selling 18,451 shares during the period. Amazon.com accounts for 3.5% of Cohen Klingenstein LLC’s portfolio, making the stock its 7th biggest holding. Cohen Klingenstein LLC’s holdings in Amazon.com were worth $108,534,000 at the end of the most recent reporting period.

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

Amazon.com News Summary

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

• Positive Sentiment: Prime Day has kicked off earlier than usual and is expected to generate record online spending, with estimates above $26 billion across retailers; that could lift Amazon’s retail revenue and merchant activity. Amazon Prime Day expected to drive record $26B in online spending
• Positive Sentiment: Amazon is leaning hard into AI commerce during Prime Day, including Alexa for Shopping and new agentic ads that can place purchases automatically, which could improve engagement and show off Amazon’s AI monetization strategy. Amazon ads can make purchases for you
• Positive Sentiment: Multiple analyst-style commentaries remain bullish, citing AWS reacceleration, advertising growth, Prime subscriptions, and the possibility that Amazon’s AI chips could become an additional business line. Amazon: You Aren’t Bullish Enough
• Positive Sentiment: A new AWS partnership with ArcelorMittal and another AWS deal with PennyMac highlight continued enterprise adoption of Amazon’s cloud and AI tools. Amazon teams with ArcelorMittal to bring AI into steel plants
• Neutral Sentiment: Prime Day is also being viewed as a consumer spending litmus test, with more focus on basics and household goods than discretionary splurges, so results will be important for sentiment but not clearly a direct positive or negative. Amazon Prime Day to gauge US consumer strain
• Negative Sentiment: AMZN has been caught in a broader selloff in big tech as investors worry about heavy AI capital spending and uncertain near-term returns, which has weighed on the stock despite strong fundamentals. Alphabet sinks, Amazon slides amid AI capex anxiety
• Negative Sentiment: Amazon also faces fresh labor and regulatory overhangs, including an order to bargain with Teamsters at a California fulfillment center and renewed FTC-related concern. Amazon told to negotiate with Teamsters

Insider Activity

In other news, CEO Andrew R. Jassy sold 31,352 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $275.00, for a total transaction of $8,621,800.00. Following the sale, the chief executive officer directly owned 2,175,766 shares in the company, valued at $598,335,650. This trade represents a 1.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 27,500 shares of Amazon.com stock in a transaction on Monday, May 4th. The shares were sold at an average price of $275.00, for a total transaction of $7,562,500.00. Following the transaction, the chief executive officer owned 471,361 shares in the company, valued at approximately $129,624,275. This trade represents a 5.51% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 195,774 shares of company stock worth $51,614,434 over the last ninety days. Company insiders own 8.90% of the company’s stock.

Wall Street Analysts Forecast Growth

AMZN has been the subject of several research analyst reports. Phillip Securities raised Amazon.com from a “moderate buy” rating to a “buy” rating and set a $280.00 price objective for the company in a report on Wednesday, May 13th. New Street Research raised their target price on Amazon.com from $280.00 to $350.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Mizuho boosted their price target on Amazon.com from $315.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Rosenblatt Securities upped their price target on shares of Amazon.com from $296.00 to $332.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, China Renaissance increased 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. Fifty-seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $312.78.

Amazon.com Stock Up 0.6%

NASDAQ AMZN opened at $234.11 on Wednesday. The stock’s 50-day moving average price is $256.40 and its 200-day moving average price is $234.12. The company has a quick ratio of 1.01, a current ratio of 1.18 and a debt-to-equity ratio of 0.27. Amazon.com, Inc. has a 52 week low of $196.00 and a 52 week high of $278.56. The company has a market capitalization of $2.52 trillion, a P/E ratio of 28.00, a price-to-earnings-growth ratio of 1.74 and a beta of 1.45.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $1.15. The company 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 was up 16.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.59 EPS. On average, equities research analysts predict that Amazon.com, Inc. will post 7.71 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.