Auto Owners Insurance Co Purchases 98,090,585 Shares of Amazon.com, Inc. $AMZN

Auto Owners Insurance Co boosted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 27,376.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,448,885 shares of the e-commerce giant’s stock after acquiring an additional 98,090,585 shares during the period. Amazon.com accounts for 0.5% of Auto Owners Insurance Co’s investment portfolio, making the stock its 22nd biggest holding. Auto Owners Insurance Co’s holdings in Amazon.com were worth $2,272,397,000 at the end of the most recent reporting period.

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

Insider Activity

In other Amazon.com news, SVP David Zapolsky sold 9,270 shares of the company’s stock in a transaction dated 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 sale, the senior vice president directly owned 41,190 shares of the company’s stock, valued at approximately $11,060,750.70. This represents a 18.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $262.38, for a total value of $620,003.94. Following the sale, the vice president directly owned 119,780 shares of the company’s stock, valued at $31,427,876.40. This represents a 1.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 195,774 shares of company stock valued at $51,614,434. Corporate insiders own 8.90% of the company’s stock.

Amazon.com Price Performance

Shares of AMZN stock opened at $232.79 on Tuesday. The stock’s fifty day simple moving average is $256.49 and its 200 day simple moving average is $234.11. Amazon.com, Inc. has a one year low of $196.00 and a one year high of $278.56. The firm has a market cap of $2.50 trillion, a price-to-earnings ratio of 27.85, a P/E/G ratio of 1.83 and a beta of 1.45. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01.

Amazon.com (NASDAQ:AMZN) last posted its 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 business 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%. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.59 EPS. On average, analysts expect that Amazon.com, Inc. will post 7.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. China Renaissance upped their target price on shares of Amazon.com from $300.00 to $326.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Needham & Company LLC raised their price target on shares of Amazon.com from $265.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Oppenheimer raised their price objective on Amazon.com from $275.00 to $320.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Arete Research boosted their price objective on Amazon.com from $301.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Finally, New Street Research upped their target price on Amazon.com from $280.00 to $350.00 and gave the company a “buy” rating in a research note 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $312.78.

Trending Headlines about Amazon.com

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

• Positive Sentiment: Prime Day is about to begin, and analysts expect record online spending, which could give Amazon a short-term sales boost and improve sentiment around retail demand. Reuters: Amazon Prime Day to gauge US consumer strain as focus shifts to basics
• Positive Sentiment: Amazon is expanding its AI strategy with new shopping tools, Alexa+ testing in India, and continued AWS adoption, reinforcing the bull case that AI and cloud growth can drive future earnings. TechCrunch: Amazon is testing Alexa+ in India with Hindi support
• Positive Sentiment: Appaloosa’s latest filing showed David Tepper nearly doubled Amazon holdings, a sentiment signal that some large investors still see upside in AMZN. 247WallSt: David Tepper Trimmed Nvidia and AMD, but Doubled Down on This AI Stock
• Neutral Sentiment: Several articles argued Amazon remains a high-quality long-term stock and may be undervalued after its recent pullback, but these are mostly opinion pieces rather than fresh company-specific catalysts. Yahoo Finance: Amazon (AMZN): The Best High Quality Stock to Buy for the Long Term
• Neutral Sentiment: Amazon MGM Studios backed away from a Sam Altman/OpenAI film, which looks more like a content-strategy decision than a meaningful stock driver. GeekWire: Amazon MGM Studios drops film about Sam Altman months after tech giant’s OpenAI deal
• Negative Sentiment: Investors are still worried about heavy AI infrastructure spending across hyperscalers, and AMZN has been trading with that group as the market questions near-term returns on capex. 247WallSt: Alphabet Sinks 6%, Amazon Slides 4% Amid AI CapEx Anxiety Across the Hyperscalers
• Negative Sentiment: One concern heading into Prime Day is that nearly everyone who wants Prime already has it, limiting membership-growth upside from the event. Business Insider: Amazon’s Prime Day has a problem: Almost everyone has Prime already

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.