AMI Asset Management Corp Sells 10,051 Shares of Amazon.com, Inc. $AMZN

AMI Asset Management Corp lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 338,247 shares of the e-commerce giant’s stock after selling 10,051 shares during the period. Amazon.com comprises about 4.5% of AMI Asset Management Corp’s investment portfolio, making the stock its 6th biggest position. AMI Asset Management Corp’s holdings in Amazon.com were worth $70,447,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of AMZN. Norges Bank purchased a new stake in Amazon.com in the 4th quarter worth approximately $32,868,735,000. Auto Owners Insurance Co increased its holdings in shares of Amazon.com by 27,376.7% during the 4th quarter. Auto Owners Insurance Co now owns 98,448,885 shares of the e-commerce giant’s stock valued at $2,272,397,000 after purchasing an additional 98,090,585 shares in the last quarter. J. Stern & Co. LLP increased its holdings in shares of Amazon.com by 20,598.0% during the 4th quarter. J. Stern & Co. LLP now owns 87,982,814 shares of the e-commerce giant’s stock valued at $20,308,193,000 after purchasing an additional 87,557,736 shares in the last quarter. Nuveen LLC acquired a new position in shares of Amazon.com in the 1st quarter valued at $11,674,091,000. Finally, Cardano Risk Management B.V. lifted its stake in shares of Amazon.com by 879.4% in the 4th quarter. Cardano Risk Management B.V. now owns 27,862,400 shares of the e-commerce giant’s stock valued at $6,431,199,000 after purchasing an additional 25,017,588 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Trending Headlines about Amazon.com

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

• Positive Sentiment: Needham reiterated a Buy rating and $300 price target on Amazon, signaling continued optimism ahead of earnings. Wall Street analyst updates Amazon stock price target
• Positive Sentiment: TD Cowen said Amazon’s accelerating AWS cloud business should help deliver strong second-quarter results, reinforcing the core growth story. Amazon’s accelerating cloud business to deliver strong Q2—TD Cowen
• Positive Sentiment: Amazon is expanding its AI and infrastructure footprint, including reports that it has enough satellites in orbit to begin rolling out Amazon Leo broadband and is deepening AWS security offerings in Europe. Amazon.com (AMZN) A Top AI Stock on Wall Street Radar Pursuing Broadband Service Opportunities
• Neutral Sentiment: Amazon’s exposure to Anthropic and broader AI infrastructure spending continues to be viewed as a long-term growth lever, but it also highlights how much the stock is being tied to the success of the AI boom. Want Anthropic Exposure Before the IPO? These 2 AI Giants Are Already There
• Negative Sentiment: The new bond sale and broader AI capex push are raising concerns about leverage, future borrowing costs, and the timeline for returns, especially as some investors question whether the AI spend is becoming excessive. Amazon’s $25 billion ‘surprise’ bond sale dangled extra yield…
• Negative Sentiment: Reports of insider selling and a cooler tone in tech sentiment are adding to the pressure on the shares near term. Amazon (AMZN) Stock Rises as It Taps Debt Market for $25 Billion AI Push

Amazon.com Stock Down 1.0%

AMZN stock opened at $243.62 on Thursday. The stock has a market capitalization of $2.62 trillion, a P/E ratio of 29.14, a P/E/G ratio of 1.83 and a beta of 1.46. The firm has a 50-day simple moving average of $253.64 and a 200-day simple moving average of $235.10. 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.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share for the quarter, topping 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 net margin of 12.22% and a return on equity of 19.92%. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.59 EPS. Equities analysts forecast that Amazon.com, Inc. will post 7.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the stock. DZ Bank raised their price target on shares of Amazon.com from $295.00 to $320.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Evercore upped their price objective on shares of Amazon.com from $285.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Maxim Group increased their target price on shares of Amazon.com from $290.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. KeyCorp raised their target price on Amazon.com from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Finally, Stifel Nicolaus set a $319.00 price target on Amazon.com and gave the company a “buy” rating in a research note on Thursday, April 30th. Fifty-seven 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, the company has an average rating of “Moderate Buy” and a consensus target price of $312.62.

Insider Activity at Amazon.com

In other news, CEO Douglas J. Herrington sold 1,000 shares of Amazon.com stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $239.77, for a total value of $239,770.00. Following the sale, the chief executive officer directly owned 484,527 shares of the company’s stock, valued at $116,175,038.79. The trade was a 0.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $262.38, for a total value of $620,003.94. Following the sale, the vice president owned 119,780 shares of the company’s stock, valued at $31,427,876.40. The trade was a 1.93% decrease in their ownership of the stock. 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 $51,643,704 in the last quarter. Corporate insiders own 8.90% of the company’s stock.

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.