193,725 Shares in Amazon.com, Inc. $AMZN Bought by Mill Capital Management LLC

Key Points

• Mill Capital Management bought 193,725 Amazon shares during the second quarter, valued at approximately $46.2 million. The position represents about 3.1% of the firm’s portfolio and is its ninth-largest holding.
• Institutional investors own 72.2% of Amazon, with several major funds—including Norges Bank, Nuveen and Cardano Risk Management—recently establishing or significantly increasing positions.
• Amazon reported strong quarterly results, including 19.6% year-over-year revenue growth and earnings well above estimates. Analysts maintain a “Moderate Buy” consensus with an average price target of $323.26, though heavy AI infrastructure spending, policy concerns and recent Amazon Air crash-related risks remain overhangs.

Mill Capital Management LLC bought a new stake in Amazon.com, Inc. (NASDAQ:AMZN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 193,725 shares of the e-commerce giant's stock, valued at approximately $46,172,000. Amazon.com comprises approximately 3.1% of Mill Capital Management LLC's investment portfolio, making the stock its 9th largest holding.

A number of other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in shares of Amazon.com during the 4th quarter worth approximately $32,868,735,000. Auto Owners Insurance Co increased its position in Amazon.com by 27,376.7% during the fourth quarter. Auto Owners Insurance Co now owns 98,448,885 shares of the e-commerce giant's stock worth $2,272,397,000 after buying an additional 98,090,585 shares in the last quarter. J. Stern & Co. LLP increased its position in Amazon.com by 20,598.0% during the fourth quarter. J. Stern & Co. LLP now owns 87,982,814 shares of the e-commerce giant's stock worth $20,308,193,000 after buying an additional 87,557,736 shares in the last quarter. Nuveen LLC acquired a new position in shares of Amazon.com in the first quarter worth $11,674,091,000. Finally, Cardano Risk Management B.V. raised its holdings in shares of Amazon.com by 879.4% in the fourth 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. Hedge funds and other institutional investors own 72.20% of the company's stock.

Amazon.com News Roundup

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

• Positive Sentiment: AWS demand remains a major bullish factor. Anthropic reportedly committed to spend more than $100 billion on AWS over 10 years, potentially representing about one-fifth of Amazon’s contracted cloud backlog. Amazon also recently reported strong quarterly growth, with revenue up 19.6% year over year and EPS substantially above expectations. Anthropic AWS contract article
• Positive Sentiment: Valuation appears more attractive to some investors. Commentary highlighted Amazon’s roughly 21 P/E ratio, below the premium multiples historically assigned to the company and below some large retail peers. However, the appeal is tempered by Amazon’s aggressive AI infrastructure spending. Amazon valuation article
• Neutral Sentiment: AI investment and policy risks remain in focus. Amazon is reportedly on track for approximately $220 billion in capital expenditures this year, up from $132 billion in 2025, raising questions about free cash flow and returns. Separately, proposed restrictions on advanced AI and the Pentagon’s continued concerns about Anthropic could affect AWS-related opportunities, although the near-term financial impact is uncertain. AI policy article
• Negative Sentiment: The Miami crash is the dominant near-term overhang. An Amazon-branded Boeing 767-300 operated by contractor 21 Air overran the runway by about 1,300 feet, struck vehicles and airport equipment, and came to rest near a Tesla vehicle facility. Five people died and others were injured. The FAA and NTSB are investigating aircraft speed, runway safeguards and operational oversight; potential liability, reputational damage and tighter scrutiny of Amazon Air could weigh on sentiment, although the affected aircraft represents only a small portion of Amazon’s roughly 250-flight air network. NTSB Miami crash update

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AMZN shares. Pivotal Research reaffirmed a "buy" rating and set a $333.00 price objective (up from $320.00) on shares of Amazon.com in a research note on Friday, July 31st. Cantor Fitzgerald restated an "overweight" rating and issued a $320.00 target price (down from $330.00) on shares of Amazon.com in a report on Friday, July 31st. Barclays reaffirmed an "overweight" rating and set a $365.00 price target (up from $330.00) on shares of Amazon.com in a research note on Friday, July 31st. Wells Fargo & Company reissued an "overweight" rating and set a $338.00 price objective (up from $328.00) on shares of Amazon.com in a research note on Thursday. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Amazon.com in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, fifty-six have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $323.26.

Insiders Place Their Bets

In other news, CEO Andrew R. Jassy sold 20,000 shares of the company's stock in a transaction dated Friday, August 21st. The stock was 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 owned 2,235,766 shares of the company's stock, valued at $579,085,751.66. This represents a 0.89% decrease in their ownership of the stock. The sale 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, SVP David Zapolsky sold 9,258 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $259.77, for a total value of $2,404,950.66. Following the completion of the sale, the senior vice president owned 41,190 shares of the company's stock, valued at approximately $10,699,926.30. This trade represents a 18.35% 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 90 days, insiders have sold 71,589 shares of company stock worth $18,568,785. 8.90% of the stock is owned by company insiders.

Amazon.com Price Performance

AMZN stock opened at $258.51 on Tuesday. The company has a market cap of $2.79 trillion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 1.99 and a beta of 1.44. The company has a current ratio of 1.03, a quick ratio of 0.87 and a debt-to-equity ratio of 0.23. The stock has a 50-day moving average price of $254.51 and a two-hundred day moving average price of $243.04. 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 released its quarterly earnings data on Thursday, July 30th. The e-commerce giant reported $5.75 earnings per share for the quarter, beating the consensus estimate of $1.82 by $3.93. Amazon.com had a return on equity of 18.00% and a net margin of 17.44%.The business had revenue of $200.61 billion for the quarter, compared to analyst estimates of $197.03 billion. During the same period in the previous year, the company posted $1.68 EPS. The company's revenue was up 19.6% compared to the same quarter last year. As a group, research analysts predict that Amazon.com, Inc. will post 8.05 EPS for the current year.

About Amazon.com

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.

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