14,174 Amazon.com, Inc. $AMZN Shares Sold by Provident Investment Management Inc.

Provident Investment Management Inc. cut its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 6.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 191,141 shares of the e-commerce giant’s stock after selling 14,174 shares during the period. Amazon.com accounts for 4.8% of Provident Investment Management Inc.’s portfolio, making the stock its 6th largest holding. Provident Investment Management Inc.’s holdings in Amazon.com were worth $47,623,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of AMZN. TOP Private Wealth LLC. bought a new stake in Amazon.com in the second quarter valued at approximately $29,000. Bard Associates Inc. acquired a new stake in shares of Amazon.com in the second quarter valued at approximately $32,000. Longfellow Investment Management Co. LLC bought a new position in shares of Amazon.com during the 2nd quarter worth approximately $33,000. Atomic Invest LLC boosted its stake in shares of Amazon.com by 41.2% during the 2nd quarter. Atomic Invest LLC now owns 168 shares of the e-commerce giant’s stock worth $40,000 after acquiring an additional 49 shares during the period. Finally, Strategic Wealth Advisors LLC acquired a new position in shares of Amazon.com during the 2nd quarter worth approximately $68,000. 72.20% of the stock is owned by institutional investors.

Insider Activity

In other Amazon.com news, SVP David Zapolsky sold 9,258 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $259.77, for a total transaction of $2,404,950.66. Following the transaction, the senior vice president owned 41,190 shares in the company, valued at $10,699,926.30. This trade represents a 18.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas Herrington sold 6,362 shares of Amazon.com stock in a transaction on Friday, August 21st. The shares were sold at an average price of $259.01, for a total value of $1,647,821.62. Following the completion of the transaction, the chief executive officer directly owned 476,681 shares of the company’s stock, valued at $123,465,145.81. This represents a 1.32% 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. Over the last 90 days, insiders have sold 71,589 shares of company stock worth $18,545,595. 8.90% of the stock is currently owned by insiders.

Amazon.com News Roundup

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

• Positive Sentiment: AWS growth and backlog support the AI investment case. AWS revenue grew 39.3% in the latest quarter, its fastest pace in nearly five years, while its reported backlog reached $578 billion. That contracted demand may help justify Amazon’s substantial infrastructure investment. Article: Andy Jassy Just Delivered Great News for Amazon Stock Investors
• Positive Sentiment: Anthropic’s planned IPO could highlight the value of Amazon’s stake and cloud relationship. Reports describe Amazon as a major investor and cloud provider to Anthropic; the proposed offering could put a substantial valuation on its stake, while Anthropic’s infrastructure commitments could also generate AWS business. Any stake valuation remains a paper estimate until shares trade. Article: Amazon and Google Will See Big Paydays from Anthropic IPO
• Positive Sentiment: UK approval expands Amazon’s drone-delivery opportunity. Regulatory clearance allows Amazon to extend eligible deliveries in Darlington to about 8,000 customers, providing a potential route to faster service and more efficient fulfillment. Article: UK aviation regulator clears Amazon for expanded drone delivery
• Neutral Sentiment: Ring’s new home-security devices and Amazon’s holiday promotions add product and seasonal-sales visibility, but their financial contribution is not yet clear. Article: Amazon’s Ring launches flying camera, autonomous security robot
• Negative Sentiment: AI infrastructure spending remains a key risk. Amazon’s large capital-spending plans could pressure cash flow if cloud and AI demand do not translate into returns quickly enough; data-center power, permitting and cost concerns add uncertainty. Article: Amazon Faces a $1.2 Trillion AI Spending Question
• Negative Sentiment: Amazon agreed to pay $3 million to Arizona Prime members to resolve allegations related to its subscription-cancellation process, a modest financial cost but a potential reputational and regulatory concern. Article: Amazon agrees to pay $3M to Arizona Prime members

Amazon.com Stock Up 1.5%

Shares of AMZN opened at $270.87 on Wednesday. Amazon.com, Inc. has a 12 month low of $196.00 and a 12 month high of $287.20. The firm’s 50 day moving average is $254.19 and its 200-day moving average is $243.93. The stock has a market capitalization of $2.93 trillion, a PE ratio of 21.90, a P/E/G ratio of 2.03 and a beta of 1.49. The company has a current ratio of 0.99, a quick ratio of 0.82 and a debt-to-equity ratio of 0.28.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, October 29th. The e-commerce giant reported $1.89 earnings per share for the quarter, missing analysts’ consensus estimates of $1.97 by ($0.08). The business had revenue of $201.94 billion during the quarter, compared to analyst estimates of $202.22 billion. Amazon.com had a net margin of 16.90% and a return on equity of 15.72%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.95 earnings per share. Equities research analysts forecast that Amazon.com, Inc. will post 7.80 EPS for the current year.

Wall Street Analysts Forecast Growth

AMZN has been the topic of a number of research analyst reports. Royal Bank Of Canada restated an “outperform” rating and issued a $330.00 price target on shares of Amazon.com in a research note on Friday, October 30th. DA Davidson set a $250.00 price objective on shares of Amazon.com and gave the stock a “neutral” rating in a research report on Friday, October 30th. Citizens Jmp decreased their price objective on shares of Amazon.com from $315.00 to $275.00 and set a “market outperform” rating on the stock in a report on Friday, October 30th. UBS Group reissued a “buy” rating and issued a $348.00 price objective (up from $318.00) on shares of Amazon.com in a research report on Monday, October 26th. Finally, Roth Capital restated a “buy” rating and set a $325.00 target price on shares of Amazon.com in a research note on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, fifty-five have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Amazon.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $321.74.

Amazon.com Company Profile

Amazon.com, Inc. is a technology and e-commerce company founded by Jeff Bezos in 1994 as an online bookstore. It has since grown into a global business serving consumers, sellers, developers, enterprises and content creators. Amazon operates online stores and marketplaces, where it sells products directly and enables third-party sellers to reach customers. Its other businesses include Amazon Web Services, which provides cloud computing and related services; digital advertising; Prime memberships; and entertainment offerings such as streaming video and music.