4,546 Amazon.com, Inc. $AMZN Shares Sold by SkyOak Wealth LLC

Key Points

• SkyOak Wealth reduced its Amazon position by 12.4%, selling 4,546 shares during the second quarter and retaining 32,066 shares valued at approximately $7.64 million. Institutional investors collectively own 72.2% of Amazon’s stock.
• Analysts remain broadly bullish: 56 research firms rate Amazon a Buy, three rate it a Hold, and the consensus price target is $321.63, compared with an opening price of $249.15.
• Amazon’s latest quarterly results exceeded expectations, with earnings of $5.75 per share versus a $1.82 consensus estimate and revenue of $200.61 billion, up 19.6% year over year. Insiders sold 70,589 shares worth approximately $18.3 million during the latest quarter.

SkyOak Wealth LLC lowered its position in Amazon.com, Inc. (NASDAQ:AMZN) by 12.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 32,066 shares of the e-commerce giant's stock after selling 4,546 shares during the period. Amazon.com accounts for approximately 1.3% of SkyOak Wealth LLC's portfolio, making the stock its 24th largest position. SkyOak Wealth LLC's holdings in Amazon.com were worth $7,643,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Silvant Capital Management LLC bought a new stake in Amazon.com in the second quarter worth approximately $60,065,000. Public Employees Retirement System of Ohio bought a new position in shares of Amazon.com during the 2nd quarter worth approximately $909,868,000. Northstar Financial Companies Inc. bought a new position in shares of Amazon.com during the 2nd quarter worth approximately $3,376,000. Gryphon Financial Partners LLC grew its position in shares of Amazon.com by 7.5% during the 1st quarter. Gryphon Financial Partners LLC now owns 73,085 shares of the e-commerce giant's stock worth $15,221,000 after buying an additional 5,125 shares during the period. Finally, First Citizens Bank & Trust Co. grew its position in shares of Amazon.com by 1.7% during the 1st quarter. First Citizens Bank & Trust Co. now owns 303,862 shares of the e-commerce giant's stock worth $63,285,000 after buying an additional 5,104 shares during the period. 72.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Needham & Company LLC reiterated a "buy" rating and set a $300.00 target price on shares of Amazon.com in a research report on Friday, July 31st. JPMorgan Chase & Co. raised their price target on shares of Amazon.com from $330.00 to $365.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. Citizens Jmp reaffirmed a "market outperform" rating and issued a $315.00 price target on shares of Amazon.com in a research note on Friday, July 31st. Wolfe Research reaffirmed an "outperform" rating and issued a $315.00 price target on shares of Amazon.com in a research note on Friday, July 31st. Finally, Sanford C. Bernstein reiterated an "outperform" rating and set a $320.00 price objective (up from $315.00) on shares of Amazon.com in a report on Friday, July 31st. Fifty-six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $321.63.

Amazon.com Stock Performance

NASDAQ AMZN opened at $249.15 on Thursday. The company has a market cap of $2.69 trillion, a P/E ratio of 20.04, a PEG ratio of 1.91 and a beta of 1.44. The company has a fifty day simple moving average of $256.38 and a 200 day simple moving average of $247.94. The company has a current ratio of 1.03, a quick ratio of 0.87 and a debt-to-equity ratio of 0.23. 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, topping the consensus estimate of $1.82 by $3.93. Amazon.com had a net margin of 17.44% and a return on equity of 18.00%. The firm had revenue of $200.61 billion for the quarter, compared to the consensus estimate of $197.03 billion. During the same quarter in the prior year, the company posted $1.68 earnings per share. The business's revenue was up 19.6% on a year-over-year basis. Sell-side analysts predict that Amazon.com, Inc. will post 8.01 earnings per share for the current fiscal year.

Insider Activity at Amazon.com

In related news, VP Shelley Reynolds sold 2,343 shares of the company's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $259.01, for a total value of $606,860.43. Following the sale, the vice president owned 119,780 shares in the company, valued at $31,024,217.80. This represents a 1.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP David Zapolsky sold 9,258 shares of the firm's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $259.77, for a total transaction of $2,404,950.66. Following the completion of the transaction, the senior vice president directly owned 41,190 shares in the company, valued at approximately $10,699,926.30. The trade was 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. Insiders sold a total of 70,589 shares of company stock valued at $18,329,015 over the last quarter. 8.90% of the stock is currently owned by company insiders.

Key Stories Impacting Amazon.com

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

• Positive Sentiment: Rosenblatt raised its price target to $360 from $335 and maintained a Buy rating, implying roughly 46% upside. The firm said concerns that Meta’s Muse and OpenAI’s Dots could displace Amazon’s retail and advertising businesses are overstated. How Amazon’s stock can fight off the AI threat and soar 46%
• Positive Sentiment: AWS agreed to a multiyear Synopsys deal worth more than $1 billion to license chip-design technology. The agreement should support Amazon’s Trainium and Graviton custom-chip efforts, potentially reducing its reliance on Nvidia processors and improving AWS economics over time. Synopsys, Amazon Web Services sign chip design licensing deal
• Positive Sentiment: Amazon signed a 20-year nuclear power agreement with Constellation Energy supporting expansion of Maryland’s Calvert Cliffs plant. The deal could help secure reliable, low-carbon electricity for Amazon’s growing data-center and AI infrastructure needs. Constellation, Amazon sign 20-year power deal
• Positive Sentiment: New consumer products and services provided additional support. Amazon launched a faster Fire TV Stick 4K with expanded Alexa+ functionality and introduced shipping tools intended to lower delivery costs for sellers of bulky products. These initiatives could support device engagement, retail activity, and marketplace participation. Amazon stock rallies on new Alexa and Fire TV abilities

Amazon.com Company Profile

Amazon.com, Inc is a global technology and commerce company that operates online marketplaces, physical stores, and a broad portfolio of digital and cloud-based services. The company offers consumer products across categories such as electronics, household goods, apparel, groceries, and entertainment, while also providing third-party sellers with tools for listing, selling, and fulfilling orders.

Amazon's major businesses include Amazon Web Services (AWS), which provides cloud computing, storage, database, analytics, and artificial intelligence services; Prime, a membership program that includes shipping, streaming, and other benefits; and digital entertainment services such as Prime Video, Amazon Music, Kindle, and Audible.

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