PineStone Asset Management Inc. Buys 130,810 Shares of Amazon.com, Inc. $AMZN

PineStone Asset Management Inc. boosted its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 4.7% in the third quarter, Holdings Channel reports. The institutional investor owned 2,909,610 shares of the e-commerce giant’s stock after acquiring an additional 130,810 shares during the quarter. Amazon.com makes up approximately 4.8% of PineStone Asset Management Inc.’s holdings, making the stock its 6th largest position. PineStone Asset Management Inc.’s holdings in Amazon.com were worth $724,929,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. State Street Corp boosted its position in Amazon.com by 5.5% during the second quarter. State Street Corp now owns 411,848,346 shares of the e-commerce giant’s stock valued at $95,504,904,000 after purchasing an additional 21,398,025 shares during the last quarter. Bank of America Corp DE purchased a new position in Amazon.com in the second quarter valued at about $22,218,775,000. Bank of New York Mellon Corp acquired a new position in Amazon.com in the 2nd quarter worth about $16,341,405,000. Amundi increased its position in Amazon.com by 3.9% in the 2nd quarter. Amundi now owns 63,822,242 shares of the e-commerce giant’s stock worth $15,211,393,000 after purchasing an additional 2,421,739 shares during the last quarter. Finally, Legal & General Group Plc acquired a new position in Amazon.com in the 2nd quarter worth about $12,831,376,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AMZN shares. Tigress Financial reaffirmed a “buy” rating and set a $385.00 price target (up from $315.00) on shares of Amazon.com in a research note on Tuesday, October 6th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $325.00 price target (up from $315.00) on shares of Amazon.com in a research note on Friday, July 31st. Pivotal Research restated a “buy” rating and issued a $333.00 price objective (up from $320.00) on shares of Amazon.com in a report on Friday, July 31st. Mizuho set a $330.00 price objective on Amazon.com and gave the stock an “outperform” rating in a report on Friday, July 31st. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $315.00 price objective on shares of Amazon.com in a research report on Friday, July 31st. Fifty-seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $325.12.

Insider Activity

In other news, CEO Andrew R. Jassy sold 20,000 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $259.01, for a total value of $5,180,200.00. Following the completion of the sale, the chief executive officer directly owned 2,235,766 shares in the company, valued at approximately $579,085,751.66. The trade was a 0.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Shelley Reynolds sold 2,343 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $259.01, for a total transaction of $606,860.43. Following the sale, the vice president directly owned 119,780 shares of the company’s stock, valued at approximately $31,024,217.80. This represents a 1.92% decrease in their ownership of the stock. 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 have sold 71,589 shares of company stock valued at $18,580,515. Insiders own 8.90% of the company’s stock.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $253.10 on Wednesday. The stock has a market capitalization of $2.73 trillion, a P/E ratio of 20.36 and a beta of 1.45. The business has a 50-day moving average of $255.21 and a two-hundred day moving average of $243.10. Amazon.com, Inc. has a fifty-two week low of $196.00 and a fifty-two week high of $287.20.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, July 30th. The e-commerce giant reported $5.75 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $3.93. The company had revenue of $200.61 billion for the quarter, compared to analyst estimates of $197.03 billion. During the same period in the prior year, the company posted $1.68 EPS. The business’s revenue was up 19.6% on a year-over-year basis. As a group, research analysts expect that Amazon.com, Inc. will post 7.55 EPS for the current fiscal year.

Trending Headlines about Amazon.com

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

• Positive Sentiment: AWS growth is the central bullish factor. Analysts expect Amazon Web Services to benefit from strong AI-related demand, with 2027 cloud capacity reportedly largely sold out. Wall Street estimates and several analysts’ price targets imply meaningful upside if AWS growth and margins exceed expectations. Amazon Q3 Earnings Preview: AWS Growth Takes Center Stage
• Positive Sentiment: Anthropic’s IPO filing reinforces Amazon’s AI infrastructure opportunity. Anthropic disclosed approximately $110 billion in non-cancelable cloud commitments with Amazon, providing substantial long-term revenue visibility for AWS. Amazon’s equity stake in Anthropic could also benefit from a higher public valuation, although related gains may be largely non-cash. Anthropic’s IPO Filing Reveals a Massive Opportunity for AI Infrastructure Giants
• Positive Sentiment: The FCC approved Amazon Leo’s $11.57 billion acquisition of Globalstar. The approval removes a regulatory hurdle and advances Amazon’s satellite-connectivity ambitions, though the deal will require significant investment. US agency approves Amazon Leo’s acquisition of Globalstar
• Neutral Sentiment: Earnings expectations are elevated. Investors will focus on AWS revenue growth, operating margins, advertising, free cash flow and management’s capital-expenditure outlook after Thursday’s closing bell.
• Neutral Sentiment: Amazon is refining its internal AI strategy. New guidance tells engineers to measure business results rather than token usage or raw code generation, potentially improving productivity and controlling AI costs, but offering limited immediate financial impact. Amazon’s anti-tokenmaxxing memo
• Negative Sentiment: Heavy AI infrastructure spending remains the main risk. Massive data-center investment is expected to weigh on free cash flow and profitability more heavily than at some peers, while investors question whether AWS growth will justify the spending.
• Negative Sentiment: Cost pressures could affect lower-margin businesses. Rising memory prices have forced difficult pricing and profitability trade-offs for Amazon’s devices unit, while AI-related restructuring and potential technology-sector layoffs add reputational and execution concerns.

Amazon.com Company Profile

Amazon.com, Inc is a global technology and e-commerce company founded by Jeff Bezos in 1994. Originally launched as an online bookstore, the company has expanded into a broad digital marketplace offering consumer products across numerous categories, including electronics, household goods, apparel, groceries and other merchandise. Amazon also sells products under its own brands and provides logistics, fulfillment and delivery services that support its retail operations and third-party sellers.

The company’s principal businesses include online and physical retail, Amazon Web Services (AWS), digital advertising, subscription services and consumer technology.