Amazon.com, Inc. $AMZN is Citizens Financial Group Inc. RI’s 10th Largest Position

Citizens Financial Group Inc. RI trimmed its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 1.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 669,306 shares of the e-commerce giant’s stock after selling 10,761 shares during the period. Amazon.com accounts for about 1.9% of Citizens Financial Group Inc. RI’s holdings, making the stock its 10th biggest holding. Citizens Financial Group Inc. RI’s holdings in Amazon.com were worth $139,396,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Red Crane Wealth Management LLC boosted its position in shares of Amazon.com by 2.3% during the 1st quarter. Red Crane Wealth Management LLC now owns 1,663 shares of the e-commerce giant’s stock valued at $346,000 after acquiring an additional 38 shares during the last quarter. Robinson Smith Wealth Advisors LLC increased its position in Amazon.com by 0.7% during the first quarter. Robinson Smith Wealth Advisors LLC now owns 5,509 shares of the e-commerce giant’s stock worth $1,147,000 after purchasing an additional 40 shares during the last quarter. Lifelong Wealth Advisors Inc. increased its position in Amazon.com by 2.4% during the fourth quarter. Lifelong Wealth Advisors Inc. now owns 1,740 shares of the e-commerce giant’s stock worth $402,000 after purchasing an additional 41 shares during the last quarter. Financial Connections Group Inc. raised its stake in Amazon.com by 2.6% during the fourth quarter. Financial Connections Group Inc. now owns 1,633 shares of the e-commerce giant’s stock worth $376,000 after purchasing an additional 42 shares during the period. Finally, Marquette Asset Management LLC boosted its holdings in Amazon.com by 5.1% in the 4th quarter. Marquette Asset Management LLC now owns 886 shares of the e-commerce giant’s stock valued at $205,000 after purchasing an additional 43 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com News Roundup

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

• Positive Sentiment: Analysts continue to see Amazon as a leading AI beneficiary, with AWS growth expected to stay strong into earnings. Amazon Viewed as Leading AI Beneficiary, AWS Acceleration Supports Buy Rating with Price Target Unchanged at $310
• Positive Sentiment: India loosened e-commerce investment rules for exports, which could help Amazon expand cross-border sales. India relaxes e-commerce investment rules for exports in win for Amazon
• Positive Sentiment: Amazon is adding games to Prime Video and integrating Luna, supporting its bundled services strategy. Amazon is bringing games to Prime Video
• Neutral Sentiment: Amazon reorganized its artificial general intelligence team, with layoffs framed as a reset to focus on higher-priority AI initiatives. Amazon cuts some jobs in its artificial general intelligence unit
• Negative Sentiment: A U.S. Senate panel is probing whether Amazon allowed Chinese influence to affect marketplace decisions, raising regulatory risk. Amazon Faces Senate Probe Over Alleged China Influence
• Negative Sentiment: Investors are questioning whether Amazon’s aggressive AI capex plans could pressure margins and earnings near term. Magnificent 7 Loses $767 Billion as AI Skeptics Dump Tech Stocks

Analyst Upgrades and Downgrades

AMZN has been the subject of several analyst reports. Wedbush reiterated an “outperform” rating and issued a $293.00 price objective on shares of Amazon.com in a research report on Thursday. Piper Sandler set a $330.00 target price on Amazon.com in a research report on Thursday, June 11th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $315.00 price target (up from $300.00) on shares of Amazon.com in a research note on Thursday, April 30th. Telsey Advisory Group increased their price target on Amazon.com from $300.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Finally, Weiss Ratings raised Amazon.com from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. Fifty-seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Amazon.com presently has an average rating of “Moderate Buy” and a consensus target price of $312.91.

Insider Transactions at Amazon.com

In related news, CEO Andrew R. Jassy sold 31,352 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $275.00, for a total transaction of $8,621,800.00. Following the transaction, the chief executive officer owned 2,175,766 shares of the company’s stock, valued at $598,335,650. This represents a 1.42% 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, CEO Matthew S. Garman sold 15,467 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $263.40, for a total transaction of $4,074,007.80. Following the transaction, the chief executive officer directly owned 14,159 shares in the company, valued at approximately $3,729,480.60. This trade represents a 52.21% 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 a total of 140,425 shares of company stock worth $37,715,464 over the last quarter. 8.90% of the stock is currently owned by corporate insiders.

Amazon.com Trading Down 4.6%

NASDAQ:AMZN opened at $233.66 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 stock has a 50-day simple moving average of $248.90 and a 200-day simple moving average of $236.35. The stock has a market cap of $2.51 trillion, a P/E ratio of 27.95, a P/E/G ratio of 1.82 and a beta of 1.46. Amazon.com, Inc. has a 1 year low of $196.00 and a 1 year high of $278.56.

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, topping 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 return on equity of 19.92% and a net margin of 12.22%.The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.59 earnings per share. As a group, analysts anticipate that Amazon.com, Inc. will post 7.75 earnings per share for the current fiscal year.

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.