Allstate Corp Grows Holdings in Amazon.com, Inc. $AMZN

Key Points

• Allstate Corp more than doubled its Amazon stake in the fourth quarter, increasing holdings by 110.9% to 731,875 shares worth about $168.9 million. Amazon now represents 2.3% of Allstate’s portfolio and is its 10th-largest position.
• Several other institutions also added modestly to their Amazon positions, and 72.2% of Amazon stock is owned by institutional investors. Company insiders own 8.9% of shares.
• Amazon shares were down slightly, while the company recently posted strong quarterly results with EPS of $2.78 and revenue of $181.52 billion, both ahead of expectations. Analysts remain largely bullish, with 57 Buy ratings and a consensus target price of $312.52.

Allstate Corp lifted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 110.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 731,875 shares of the e-commerce giant's stock after buying an additional 384,848 shares during the quarter. Amazon.com comprises 2.3% of Allstate Corp's portfolio, making the stock its 10th largest position. Allstate Corp's holdings in Amazon.com were worth $168,931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Lifelong Wealth Advisors Inc. boosted its position in shares of Amazon.com by 2.4% in the 4th quarter. Lifelong Wealth Advisors Inc. now owns 1,740 shares of the e-commerce giant's stock worth $402,000 after purchasing an additional 41 shares in the last quarter. Financial Connections Group Inc. grew its stake in shares of Amazon.com by 2.6% in the 4th quarter. Financial Connections Group Inc. now owns 1,633 shares of the e-commerce giant's stock worth $376,000 after buying an additional 42 shares during the last quarter. Marquette Asset Management LLC increased its position in Amazon.com by 5.1% during the 4th quarter. Marquette Asset Management LLC now owns 886 shares of the e-commerce giant's stock valued at $205,000 after buying an additional 43 shares in the last quarter. Western Financial Corp CA increased its position in Amazon.com by 1.5% during the 4th quarter. Western Financial Corp CA now owns 3,076 shares of the e-commerce giant's stock valued at $710,000 after buying an additional 44 shares in the last quarter. Finally, Navalign LLC raised its stake in Amazon.com by 0.3% during the fourth quarter. Navalign LLC now owns 13,349 shares of the e-commerce giant's stock valued at $3,081,000 after buying an additional 44 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Douglas J. Herrington sold 27,500 shares of the business's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $275.00, for a total value of $7,562,500.00. Following the sale, the chief executive officer directly owned 471,361 shares in the company, valued at approximately $129,624,275. The trade was a 5.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew S. Garman sold 15,467 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $263.40, for a total value of $4,074,007.80. Following the transaction, the chief executive officer directly owned 14,159 shares of the company's stock, valued at approximately $3,729,480.60. The trade was a 52.21% 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. Insiders sold a total of 195,774 shares of company stock valued at $51,614,434 in the last 90 days. 8.90% of the stock is currently owned by company insiders.

Amazon.com Trading Down 0.3%

Amazon.com stock opened at $245.22 on Tuesday. The firm has a market capitalization of $2.64 trillion, a price-to-earnings ratio of 29.33, a P/E/G ratio of 1.84 and a beta of 1.45. Amazon.com, Inc. has a 12-month low of $196.00 and a 12-month high of $278.56. The firm has a 50 day moving average of $250.62 and a 200 day moving average of $233.14. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.63 by $1.15. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The firm had revenue of $181.52 billion during the quarter, compared to analysts' expectations of $177.28 billion. During the same period in the prior year, the company posted $1.59 earnings per share. The company's revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, research analysts predict that Amazon.com, Inc. will post 7.71 earnings per share for the current year.

Trending Headlines about Amazon.com

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

• Positive Sentiment: Amazon signed a multibillion-dollar deal with Corning to supply optical fiber, cable, and connectivity products for its rapidly expanding U.S. AI data centers, reinforcing demand tied to AWS and the company’s infrastructure buildout. Amazon, Corning sign multi-billion-dollar deal to boost fiber optics manufacturing in US
• Positive Sentiment: The FCC gave Amazon Leo more flexibility on its satellite deployment timeline, easing execution pressure as Amazon races to build a Starlink competitor and expand its satellite internet ambitions. FCC gives Amazon Leo more leeway on its satellite deployment schedule
• Positive Sentiment: Amazon rolled out an Alexa AI shopping feature that lets U.S. customers create custom designs for print-on-demand products, adding another AI-driven consumer use case and potential commerce revenue stream. Amazon Deploys Alexa AI to Disrupt Print-on-Demand Market
• Positive Sentiment: Several articles highlighted Amazon as a favored AI and megacap stock, with investor commentary pointing to strong long-term fundamentals and continued cloud-led growth. Is Amazon Stock a Buy Right Now?
• Neutral Sentiment: Amazon’s Twitch CEO argued that live streaming offers more human connection than traditional social media; interesting for the platform, but not likely a major stock mover on its own. Twitch CEO: Social media has become ‘anti-social’ and can’t match the shared, human connection of live streaming
• Negative Sentiment: A report from Paubox claimed Amazon SES could expose protected health information in plaintext if encryption fails, which could raise reputational and compliance concerns if the issue gains traction. Amazon Says SES Requires TLS 1.2. Paubox Testing Shows It Doesn't.
• Negative Sentiment: The company continues to spend heavily on AI, data centers, satellites, and logistics, which supports long-term growth but can weigh on near-term sentiment if investors focus on capital intensity and returns. Amazon’s (AMZN) AI Spending Boom Is Creating a New Investor Debate

Wall Street Analyst Weigh In

AMZN has been the topic of several recent analyst reports. Wells Fargo & Company set a $312.00 price objective on shares of Amazon.com and gave the company an "overweight" rating in a research report on Wednesday, May 20th. Pivotal Research reiterated a "buy" rating and set a $320.00 target price (up from $300.00) on shares of Amazon.com in a research note on Thursday, April 30th. Daiwa Securities Group lowered their target price on shares of Amazon.com from $300.00 to $280.00 and set a "buy" rating on the stock in a research note on Wednesday, February 11th. Scotiabank restated an "outperform" rating and set a $325.00 price objective (up from $275.00) on shares of Amazon.com in a research report on Thursday, April 30th. Finally, Raymond James Financial restated an "outperform" rating and issued a $280.00 target price on shares of Amazon.com in a report on Friday, May 1st. Fifty-seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Amazon.com currently has a consensus rating of "Moderate Buy" and an average target price of $312.52.

Amazon.com Company Profile

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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