Amazon.com, Inc. $AMZN Stock Holdings Decreased by Northeast Investment Management

Northeast Investment Management lowered its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 1.3% during the first quarter, HoldingsChannel reports. The firm owned 525,799 shares of the e-commerce giant’s stock after selling 7,149 shares during the quarter. Amazon.com comprises approximately 4.5% of Northeast Investment Management’s portfolio, making the stock its 4th biggest holding. Northeast Investment Management’s holdings in Amazon.com were worth $109,508,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. raised its position in Amazon.com by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant’s stock worth $158,348,557,000 after buying an additional 8,913,959 shares during the last quarter. State Street Corp boosted its holdings in shares of Amazon.com by 1.8% in the fourth quarter. State Street Corp now owns 388,653,121 shares of the e-commerce giant’s stock valued at $89,708,913,000 after acquiring an additional 6,971,680 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Amazon.com by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 225,120,994 shares of the e-commerce giant’s stock valued at $51,753,622,000 after acquiring an additional 2,479,324 shares in the last quarter. Norges Bank acquired a new position in shares of Amazon.com during the fourth quarter worth about $32,868,735,000. Finally, Auto Owners Insurance Co increased its stake in shares of Amazon.com by 27,376.7% during the fourth quarter. Auto Owners Insurance Co now owns 98,448,885 shares of the e-commerce giant’s stock worth $2,272,397,000 after acquiring an additional 98,090,585 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $242.67 on Friday. The business’s 50 day simple moving average is $254.82 and its 200-day simple moving average is $234.51. The firm has a market capitalization of $2.61 trillion, a price-to-earnings ratio of 29.03, a price-to-earnings-growth ratio of 1.80 and a beta of 1.46. 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, Inc. has a 12 month low of $196.00 and a 12 month high of $278.56.

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

Wall Street Analyst Weigh In

AMZN has been the subject of a number of recent analyst reports. Monness Crespi & Hardt raised their price objective on shares of Amazon.com from $280.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Bank of America boosted their target price on Amazon.com from $298.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. New Street Research increased their target price on Amazon.com from $280.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Wolfe Research reissued an “outperform” rating and issued a $320.00 price target (up from $245.00) on shares of Amazon.com in a report on Thursday, April 30th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $325.00 price target (up from $275.00) on shares of Amazon.com in a research note on Thursday, April 30th. Fifty-seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $312.79.

Key Stories Impacting Amazon.com

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

• Positive Sentiment: Amazon said its Leo satellite network has enough satellites to begin initial broadband service this year, creating a new growth avenue in space-based internet. Reuters: Amazon to start initial Leo internet service this year as network nears 400 satellites
• Positive Sentiment: Amazon is deepening its AI strategy by developing custom chips for consumer devices and expanding AWS AI engineering support, which could strengthen margins and enterprise adoption. CNBC: Amazon is designing its own AI chips for Echo, Fire TV and future devices
• Positive Sentiment: Prime Day sales reportedly rose to a record $26.4 billion, signaling strong e-commerce demand and improving sentiment ahead of quarterly results. Yahoo Finance/Reuters: Online Spending Rises 5.3% on First Day of Amazon’s Prime Day

Insider Buying and Selling

In other news, SVP David Zapolsky sold 9,270 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $268.53, for a total value of $2,489,273.10. Following the completion of the transaction, the senior vice president owned 41,190 shares in the company, valued at $11,060,750.70. This trade represents a 18.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 1,000 shares of Amazon.com stock in a transaction 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 transaction, the chief executive officer directly owned 484,527 shares of the company’s stock, valued at $116,175,038.79. This trade represents a 0.21% decrease in their position. 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 195,774 shares of company stock valued at $51,643,704 in the last three months. 8.90% of the stock is owned by insiders.

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.