Amazon.com, Inc. $AMZN Stock Holdings Decreased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 9,534,830 shares of the e-commerce giant’s stock after selling 298,314 shares during the period. Amazon.com comprises 2.1% of Pictet Asset Management Holding SA’s portfolio, making the stock its 6th biggest position. Pictet Asset Management Holding SA owned about 0.09% of Amazon.com worth $1,985,101,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of AMZN. Brighton Jones LLC grew its holdings in shares of Amazon.com by 10.9% in the fourth quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant’s stock worth $885,478,000 after purchasing an additional 397,007 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in Amazon.com by 4.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant’s stock valued at $5,495,000 after buying an additional 986 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in Amazon.com by 2.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant’s stock valued at $442,481,000 after buying an additional 54,987 shares in the last quarter. Highview Capital Management LLC DE boosted its position in Amazon.com by 5.5% in the 4th quarter. Highview Capital Management LLC DE now owns 28,975 shares of the e-commerce giant’s stock valued at $6,357,000 after buying an additional 1,518 shares during the period. Finally, Liberty Square Wealth Partners LLC purchased a new stake in Amazon.com in the 4th quarter valued at about $2,153,000. Institutional investors own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Barclays reaffirmed an “overweight” rating on shares of Amazon.com in a research report on Tuesday, June 9th. Monness Crespi & Hardt increased their price objective on Amazon.com from $280.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. China Renaissance increased their price objective on Amazon.com from $300.00 to $326.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $315.00 target price (up from $300.00) on shares of Amazon.com in a research report on Thursday, April 30th. Finally, New Street Research upped their target price on Amazon.com from $280.00 to $350.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Fifty-seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $312.79.

Amazon.com News Summary

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

• Positive Sentiment: Amazon said its Leo satellite network has enough satellites to begin initial broadband service this year, opening a new growth opportunity in satellite internet. Reuters: Amazon to start initial Leo internet service this year as network nears 400 satellites
• Positive Sentiment: Amazon is expanding its AI strategy with custom device chips and broader AWS AI capabilities, which could support future margins and growth. CNBC: Amazon is designing its own AI chips for Echo, Fire TV and future devices
• Positive Sentiment: Prime Day-related reports pointed to strong online shopping demand, reinforcing confidence in Amazon’s retail momentum heading into earnings. Yahoo Finance/Reuters: Online Spending Rises 5.3% on First Day of Amazon’s Prime Day

Insider Buying and Selling

In related news, SVP David Zapolsky sold 9,270 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $268.53, for a total transaction of $2,489,273.10. Following the completion of the sale, the senior vice president directly owned 41,190 shares in the company, valued at $11,060,750.70. This represents a 18.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew R. Jassy sold 31,352 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $275.00, for a total value of $8,621,800.00. Following the sale, the chief executive officer directly owned 2,175,766 shares in the company, valued at approximately $598,335,650. The trade was a 1.42% decrease in their position. 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. Over the last 90 days, insiders have sold 195,774 shares of company stock valued at $51,643,704. 8.90% of the stock is owned by insiders.

Amazon.com Price Performance

NASDAQ AMZN opened at $242.67 on Friday. 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’s 50 day moving average price is $254.57 and its 200-day moving average price is $234.57. Amazon.com, Inc. has a 52-week low of $196.00 and a 52-week high of $278.56. The company has a market cap of $2.61 trillion, a PE ratio of 29.03, a P/E/G ratio of 1.81 and a beta of 1.46.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $1.15. The company had revenue of $181.52 billion for the quarter, compared to analyst estimates of $177.28 billion. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. Amazon.com’s revenue was up 16.6% compared to the same quarter last year. During the same period last year, the company posted $1.59 earnings per share. Sell-side analysts forecast that Amazon.com, Inc. will post 7.75 EPS for the current fiscal year.

About Amazon.com

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.