Union Bancaire Privee UBP SA Trims Position in Amazon.com, Inc. $AMZN

Union Bancaire Privee UBP SA lowered its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 9.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,343,186 shares of the e-commerce giant’s stock after selling 141,400 shares during the period. Amazon.com makes up approximately 4.7% of Union Bancaire Privee UBP SA’s portfolio, making the stock its 5th biggest holding. Union Bancaire Privee UBP SA’s holdings in Amazon.com were worth $279,745,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Amazon.com in the fourth quarter worth approximately $32,868,735,000. Auto Owners Insurance Co raised its holdings in Amazon.com by 27,376.7% during the 4th quarter. Auto Owners Insurance Co now owns 98,448,885 shares of the e-commerce giant’s stock valued at $2,272,397,000 after buying an additional 98,090,585 shares during the last quarter. J. Stern & Co. LLP boosted its position in Amazon.com by 20,598.0% during the 4th quarter. J. Stern & Co. LLP now owns 87,982,814 shares of the e-commerce giant’s stock valued at $20,308,193,000 after buying an additional 87,557,736 shares during the period. Nuveen LLC purchased a new stake in Amazon.com during the 1st quarter valued at $11,674,091,000. Finally, Cardano Risk Management B.V. grew its holdings in Amazon.com by 879.4% in the 4th quarter. Cardano Risk Management B.V. now owns 27,862,400 shares of the e-commerce giant’s stock worth $6,431,199,000 after acquiring an additional 25,017,588 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $330.00 price objective (up from $280.00) on shares of Amazon.com in a research note on Thursday, April 30th. TD Cowen reiterated a “buy” rating and issued a $350.00 price objective on shares of Amazon.com in a research report on Tuesday, May 12th. Piper Sandler set a $330.00 target price on Amazon.com in a research note on Thursday, June 11th. BNP Paribas Exane upped their target price on Amazon.com from $320.00 to $345.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $325.00 price target (up from $275.00) on shares of Amazon.com in a report on Thursday, April 30th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $312.79.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $242.67 on Friday. Amazon.com, Inc. has a one year low of $196.00 and a one year high of $278.56. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01. The company’s 50-day simple moving average is $254.57 and its 200 day simple moving average is $234.57. The firm has a market capitalization of $2.61 trillion, a P/E ratio of 29.03, a PEG ratio of 1.81 and a beta of 1.46.

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

Insider Buying and Selling

In related news, SVP David Zapolsky sold 9,270 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was 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 owned 41,190 shares of the company’s stock, valued at $11,060,750.70. This trade represents a 18.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew R. Jassy sold 20,000 shares of Amazon.com stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $263.42, for a total value of $5,268,400.00. Following the transaction, the chief executive officer owned 2,205,766 shares of the company’s stock, valued at $581,042,879.72. The trade was a 0.90% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 195,774 shares of company stock worth $51,643,704 over the last three months. Corporate insiders own 8.90% of the company’s stock.

Key Amazon.com News

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, opening a new growth opportunity in satellite internet. Reuters: Amazon to start initial Leo internet service this year as network nears 400 satellites
• Positive Sentiment: Amazon is expanding its AI strategy with custom device chips and broader AWS AI capabilities, which could support future margins and growth. CNBC: Amazon is designing its own AI chips for Echo, Fire TV and future devices
• Positive Sentiment: Prime Day-related reports pointed to strong online shopping demand, reinforcing confidence in Amazon’s retail momentum heading into earnings. Yahoo Finance/Reuters: Online Spending Rises 5.3% on First Day of Amazon’s Prime Day

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.