12,418 Amazon.com, Inc. $AMZN Shares Sold by Apollon Wealth Management LLC

Key Points

• Apollon Wealth Management cut its Amazon stake by 1.8%, selling 12,418 shares; it retained 672,542 shares valued at about $167.6 million, its sixth-largest portfolio holding.
• Analyst sentiment remains broadly positive: MarketBeat reports a “Moderate Buy” consensus and a $321.74 average price target, based on 2 Strong Buy, 55 Buy and 3 Hold ratings.
• Amazon’s latest quarter came in slightly below expectations, with EPS of $1.89 versus $1.97 forecast and revenue of $201.94 billion versus $202.22 billion expected; revenue was up 12.1% year over year.

Apollon Wealth Management LLC reduced its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 1.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 672,542 shares of the e-commerce giant's stock after selling 12,418 shares during the period. Amazon.com accounts for 1.9% of Apollon Wealth Management LLC's investment portfolio, making the stock its 6th biggest holding. Apollon Wealth Management LLC's holdings in Amazon.com were worth $167,564,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Bank of America Corp DE bought a new stake in shares of Amazon.com in the second quarter valued at approximately $22,218,775,000. Bank of New York Mellon Corp bought a new position in Amazon.com during the second quarter worth $16,341,405,000. Legal & General Group Plc bought a new position in Amazon.com during the second quarter worth $12,831,376,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Amazon.com during the second quarter worth $6,631,466,000. Finally, Jupiter Topco LLC acquired a new position in Amazon.com during the 2nd quarter valued at $5,910,083,000. Institutional investors own 72.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AMZN shares. Telsey Advisory Group reaffirmed an "outperform" rating and set a $335.00 price objective on shares of Amazon.com in a research report on Friday, October 30th. UBS Group restated a "buy" rating and set a $348.00 price target (up from $318.00) on shares of Amazon.com in a research note on Monday, October 26th. Cantor Fitzgerald cut their price target on Amazon.com from $310.00 to $280.00 and set an "overweight" rating for the company in a report on Friday, October 30th. Wolfe Research reaffirmed an "outperform" rating and issued a $315.00 price target on shares of Amazon.com in a report on Friday, July 31st. Finally, Barclays reiterated an "overweight" rating and issued a $365.00 price objective (up from $330.00) on shares of Amazon.com in a research report on Friday, July 31st. Two investment 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.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $321.74.

Insider Activity at Amazon.com

In other news, CEO Matthew S. Garman sold 14,541 shares of the firm's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $259.06, for a total value of $3,766,991.46. Following the transaction, the chief executive officer owned 17,794 shares of the company's stock, valued at approximately $4,609,713.64. This trade represents a 44.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew Jassy sold 20,000 shares of the 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 transaction, the chief executive officer directly owned 2,235,766 shares in the company, valued at approximately $579,085,751.66. This trade represents a 0.89% 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. In the last quarter, insiders sold 71,589 shares of company stock worth $18,545,595. Insiders own 8.90% of the company's stock.

Amazon.com Stock Performance

Amazon.com stock opened at $266.17 on Thursday. The stock has a 50-day simple moving average of $254.41 and a 200 day simple moving average of $244.06. The stock has a market capitalization of $2.88 trillion, a price-to-earnings ratio of 21.52, a P/E/G ratio of 2.06 and a beta of 1.49. The company has a quick ratio of 0.82, a current ratio of 0.99 and a debt-to-equity ratio of 0.28. Amazon.com, Inc. has a 12-month low of $196.00 and a 12-month high of $287.20.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The e-commerce giant reported $1.89 EPS for the quarter, missing analysts' consensus estimates of $1.97 by ($0.08). The company had revenue of $201.94 billion for the quarter, compared to the consensus estimate of $202.22 billion. Amazon.com had a return on equity of 15.72% and a net margin of 16.90%. The firm's revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.95 EPS. On average, research analysts anticipate that Amazon.com, Inc. will post 7.80 earnings per share for the current fiscal year.

Key Stories Impacting Amazon.com

These are some of the AMZN stories that stood out recently:

• Positive Sentiment: AWS growth and backlog support the investment case. AWS grew 39.3% in the latest quarter, its fastest pace in nearly five years, and has a reported $578 billion backlog. That demand could help justify Amazon’s major AI infrastructure buildout. AWS growth and backlog article
• Positive Sentiment: Anthropic could add strategic and financial upside. Amazon is a major Anthropic investor and cloud provider; an anticipated IPO could raise the estimated value of its stake substantially, while Anthropic’s infrastructure commitments may generate AWS business. Any IPO valuation gain remains prospective, not cash already realized. Anthropic IPO article
• Positive Sentiment: Amazon received a Stock Grader upgrade. Its rating moved from Weak to Neutral, with return on equity and analyst earnings revisions identified as strengths, although several growth and cash-flow measures remained weak. Stock Grader article

Amazon.com 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.

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