American Trust decreased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 27.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,541 shares of the e-commerce giant’s stock after selling 7,636 shares during the period. American Trust’s holdings in Amazon.com were worth $4,278,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the business. Red Crane Wealth Management LLC lifted its position in Amazon.com by 2.3% during the first quarter. Red Crane Wealth Management LLC now owns 1,663 shares of the e-commerce giant’s stock valued at $346,000 after purchasing an additional 38 shares during the period. Robinson Smith Wealth Advisors LLC grew its position in Amazon.com by 0.7% in the 1st 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 period. Lifelong Wealth Advisors Inc. grew its position in Amazon.com by 2.4% in the 4th 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 period. Financial Connections Group Inc. raised its stake in Amazon.com by 2.6% during the 4th quarter. Financial Connections Group Inc. now owns 1,633 shares of the e-commerce giant’s stock valued at $376,000 after buying an additional 42 shares during the last quarter. Finally, Marquette Asset Management LLC raised its stake in Amazon.com by 5.1% during the 4th quarter. Marquette Asset Management LLC now owns 886 shares of the e-commerce giant’s stock valued at $205,000 after buying an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.
Amazon.com Price Performance
AMZN stock opened at $233.66 on Friday. Amazon.com, Inc. has a one year low of $196.00 and a one year high of $278.56. The company’s fifty day moving average price is $248.90 and its 200-day moving average price is $236.35. 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 company has a market capitalization of $2.51 trillion, a PE ratio of 27.95, a price-to-earnings-growth ratio of 1.82 and a beta of 1.46.
Insider Buying and Selling at Amazon.com
In other news, CEO Matthew S. Garman sold 15,467 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 14,159 shares in the company, valued at approximately $3,729,480.60. This represents a 52.21% decrease in their position. The transaction was disclosed in a legal filing 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, SVP David Zapolsky sold 9,270 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $268.53, for a total transaction of $2,489,273.10. Following the completion of the transaction, the senior vice president directly owned 41,190 shares of the company’s stock, valued at approximately $11,060,750.70. This trade represents a 18.37% decrease in their ownership of the stock. 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. Insiders have sold a total of 140,425 shares of company stock worth $37,715,464 over the last three months. 8.90% of the stock is owned by company insiders.
Key Stories Impacting Amazon.com
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 Ratings Changes
Several equities research analysts have recently commented on the stock. Telsey Advisory Group upped their price target on shares of Amazon.com from $300.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Benchmark boosted their price objective on shares of Amazon.com from $275.00 to $370.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Truist Financial lifted their target price on Amazon.com from $310.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, May 29th. William Blair reissued an “outperform” rating on shares of Amazon.com in a report on Thursday, April 9th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Amazon.com in a research report on Thursday, June 18th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $312.91.
Check Out Our Latest Stock Analysis on AMZN
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.
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