Cullinan Associates Inc. Sells 12,960 Shares of Amazon.com, Inc. $AMZN

Cullinan Associates Inc. cut its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 9.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,753 shares of the e-commerce giant’s stock after selling 12,960 shares during the period. Amazon.com comprises approximately 2.0% of Cullinan Associates Inc.’s portfolio, making the stock its 11th biggest holding. Cullinan Associates Inc.’s holdings in Amazon.com were worth $24,524,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Brighton Jones LLC grew its position in Amazon.com by 10.9% during the fourth quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant’s stock valued at $885,478,000 after buying an additional 397,007 shares during the period. Revolve Wealth Partners LLC raised its position in 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 worth $5,495,000 after acquiring an additional 986 shares during the period. Bank Pictet & Cie Europe AG raised its position in 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 period. Highview Capital Management LLC DE boosted its stake in 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 valued at $6,357,000 after acquiring an additional 1,518 shares during the last quarter. Finally, Liberty Square Wealth Partners LLC purchased a new position in Amazon.com in the fourth quarter valued at about $2,153,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about 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

Wall Street Analyst Weigh In

AMZN has been the subject of several research reports. Oppenheimer increased their price objective on Amazon.com from $275.00 to $320.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. China Renaissance upped their price target on Amazon.com from $300.00 to $326.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. BNP Paribas Exane increased their price target on Amazon.com from $320.00 to $345.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Mizuho increased their price target on Amazon.com from $315.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Finally, HSBC lifted their price objective on Amazon.com from $280.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $312.91.

Insider Activity at Amazon.com

In other news, VP Shelley Reynolds sold 2,363 shares of Amazon.com 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 directly owned 119,780 shares in the company, valued at approximately $31,427,876.40. This trade represents a 1.93% decrease in their position. The sale was disclosed in a 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 business’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 transaction, the senior vice president directly owned 41,190 shares in the company, valued at approximately $11,060,750.70. The trade was a 18.37% 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 valued at $37,715,464 in the last quarter. 8.90% of the stock is currently owned by company insiders.

Amazon.com Trading Down 4.6%

Shares of AMZN opened at $233.66 on Friday. The firm has a market cap of $2.51 trillion, a price-to-earnings ratio of 27.95, a PEG ratio of 1.82 and a beta of 1.46. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.18. Amazon.com, Inc. has a fifty-two week low of $196.00 and a fifty-two week high of $278.56. The firm has a 50 day moving average price of $248.90 and a 200-day moving average price of $236.35.

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