Amazon.com, Inc. $AMZN Shares Acquired by Summit Asset Management LLC

Summit Asset Management LLC lifted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 14.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,740 shares of the e-commerce giant’s stock after acquiring an additional 5,143 shares during the period. Amazon.com accounts for about 1.2% of Summit Asset Management LLC’s holdings, making the stock its 21st biggest position. Summit Asset Management LLC’s holdings in Amazon.com were worth $8,693,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AMZN. MilWealth Group LLC increased its stake in Amazon.com by 79.0% in the fourth quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant’s stock valued at $41,000 after purchasing an additional 79 shares during the period. Lifetime Wealth Management P.C. acquired a new stake in shares of Amazon.com during the fourth quarter worth about $45,000. Elkhorn Partners Limited Partnership boosted its stake in shares of Amazon.com by 900.0% during the fourth quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant’s stock worth $46,000 after buying an additional 180 shares during the period. Fairway Wealth LLC grew its holdings in shares of Amazon.com by 95.6% during the fourth quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant’s stock worth $51,000 after buying an additional 108 shares during the last quarter. Finally, Prudent Man Investment Management Inc. grew its holdings in shares of Amazon.com by 87.7% during the fourth quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant’s stock worth $53,000 after buying an additional 107 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Key Amazon.com News

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

• Positive Sentiment: AWS growth is strengthening the AI investment case. Second-quarter revenue rose 19.6% to $200.6 billion, while AWS revenue increased 37% and operating income rose sharply. Investors are increasingly confident that Amazon’s infrastructure spending is translating into cloud demand, margins and future revenue visibility. Amazon AWS growth article
• Positive Sentiment: Analysts remain constructive. Multiple firms have raised price targets, with reported targets generally above the current share price. A large AWS backlog and accelerating AI-related demand are supporting the bullish outlook. Amazon analyst targets and AWS backlog
• Positive Sentiment: AI monetization is broadening. Amazon’s investment in Anthropic and its OpenAI partnership could increase demand for AWS chips and infrastructure. Personalized recommendations and AI features in Prime Video may also improve engagement and create additional monetization opportunities. Amazon Prime Video AI article
• Neutral Sentiment: Recent momentum may be vulnerable to profit-taking. Short covering and strong post-earnings buying helped drive the recent rally, but some analysts have downgraded Amazon to more moderate recommendations as valuation and expectations rise. Amazon rating downgrade
• Negative Sentiment: Bezos’ planned sale is the main near-term overhang. The proposed disposal, valued at roughly $4 billion to $4.7 billion, increases potential supply and has been interpreted as a sentiment “buzzkill” immediately after the stock’s record high. Jeff Bezos Amazon share sale
• Negative Sentiment: Risks from spending and regulation remain. Amazon faces very large AI capital commitments, negative free cash flow and future data-center lease obligations. New Jersey also sued over alleged delivery-network wage suppression, while a court allowed Perplexity’s AI shopping tools to continue operating on Amazon’s platform, potentially increasing competitive and security concerns. Big Tech AI data-center lease obligations

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $277.42 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 1.03 and a debt-to-equity ratio of 0.23. The company has a market cap of $2.99 trillion, a P/E ratio of 22.32, a PEG ratio of 1.81 and a beta of 1.45. Amazon.com, Inc. has a 52 week low of $196.00 and a 52 week high of $287.20. The company has a 50-day moving average price of $246.29 and a 200 day moving average price of $236.73.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, July 30th. The e-commerce giant reported $5.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $3.93. Amazon.com had a return on equity of 18.00% and a net margin of 17.44%.The company had revenue of $200.61 billion for the quarter, compared to analyst estimates of $197.03 billion. During the same quarter in the previous year, the company earned $1.68 EPS. The firm’s revenue for the quarter was up 19.6% compared to the same quarter last year. Research analysts predict that Amazon.com, Inc. will post 8.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AMZN shares. Phillip Securities cut Amazon.com from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday. The Goldman Sachs Group reaffirmed a “buy” rating and set a $375.00 price objective (up from $335.00) on shares of Amazon.com in a research report on Friday. Moffett Nathanson lifted their target price on Amazon.com from $283.00 to $288.00 and gave the company a “buy” rating in a research note on Tuesday, April 7th. Piper Sandler reissued an “overweight” rating and issued a $320.00 target price (up from $315.00) on shares of Amazon.com in a report on Friday. Finally, UBS Group set a $318.00 price target on Amazon.com and gave the stock a “buy” rating in a research note on Friday. Fifty-six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $322.56.

Insiders Place Their Bets

In other Amazon.com news, CEO Andrew R. Jassy sold 20,000 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $263.42, for a total value of $5,268,400.00. Following the completion of the transaction, the chief executive officer owned 2,205,766 shares in the company, valued at approximately $581,042,879.72. This represents a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 value of $2,489,273.10. Following the completion of the sale, 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 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. Over the last ninety days, insiders sold 76,867 shares of company stock worth $20,253,702. Corporate insiders own 8.90% of the company’s stock.

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.