Altshuler Shaham Ltd Sells 1,161,486 Shares of Amazon.com, Inc. $AMZN

Key Points

• Altshuler Shaham cut its Amazon position by 49.6% in the first quarter, selling 1,161,486 shares while retaining 1,178,341 shares valued at approximately $245.4 million. Amazon remains the fund’s sixth-largest holding and represents 3.9% of its portfolio.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $322.56; several firms recently raised targets to $345.00.
• Amazon reported strong quarterly results, including $5.75 in EPS and $200.61 billion in revenue, while shares traded near their 52-week high and the company reached a roughly $3 trillion market capitalization.

Altshuler Shaham Ltd lowered its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 49.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,178,341 shares of the e-commerce giant's stock after selling 1,161,486 shares during the quarter. Amazon.com accounts for 3.9% of Altshuler Shaham Ltd's investment portfolio, making the stock its 6th largest holding. Altshuler Shaham Ltd's holdings in Amazon.com were worth $245,413,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. MilWealth Group LLC grew its stake in shares of Amazon.com by 79.0% during the 4th quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant's stock worth $41,000 after purchasing an additional 79 shares during the period. Lifetime Wealth Management P.C. acquired a new stake in shares of Amazon.com in the fourth quarter valued at about $45,000. Elkhorn Partners Limited Partnership boosted its holdings in Amazon.com by 900.0% during the fourth quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant's stock worth $46,000 after buying an additional 180 shares in the last quarter. Fairway Wealth LLC boosted its holdings in Amazon.com by 95.6% during the fourth quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant's stock worth $51,000 after buying an additional 108 shares in the last quarter. Finally, Prudent Man Investment Management Inc. grew its position in Amazon.com by 87.7% during the fourth quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant's stock worth $53,000 after buying an additional 107 shares during the period. Institutional investors and hedge funds own 72.20% of the company's stock.

Analysts Set New Price Targets

AMZN has been the subject of a number of research analyst reports. Jefferies Financial Group reaffirmed a "buy" rating on shares of Amazon.com in a report on Thursday, June 18th. Rosenblatt Securities boosted their price target on Amazon.com from $332.00 to $345.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Stifel Nicolaus set a $319.00 price target on Amazon.com and gave the stock a "buy" rating in a report on Thursday, April 30th. Telsey Advisory Group set a $335.00 price objective on Amazon.com and gave the company an "outperform" rating in a research note on Friday, July 31st. Finally, BNP Paribas Exane lifted their price objective on Amazon.com from $320.00 to $345.00 and gave the stock an "outperform" rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, fifty-six have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $322.56.

Amazon.com News Roundup

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

• Positive Sentiment: Amazon’s recent earnings breakout is attracting continued investor interest. Renewed AWS growth and accelerating AI demand could support earnings momentum and a post-earnings drift higher. Amazon: A Post-Earnings Drift Candidate
• Positive Sentiment: Analysts and market commentators point to accelerating cloud revenue as a potential long-term driver that could help Amazon grow beyond its recently achieved $3 trillion market capitalization. Amazon Just Joined the $3 Trillion Club
• Positive Sentiment: A reported institutional and retail “Power Inflow” alert provided a short-term bullish trading signal, helping reinforce buying momentum in AMZN. Amazon Shares Up After Key Trading Signal
• Positive Sentiment: Amazon’s Zoox robotaxi subsidiary began paid rides in Las Vegas after receiving a federal commercial exemption, marking a meaningful commercialization milestone for the company’s autonomous-vehicle investment. Zoox to Begin Paid Rides
• Positive Sentiment: Amazon Pharmacy is offering eligible Medicare patients access to certain weight-loss drugs for $50 per month, potentially expanding customer engagement and the company’s healthcare presence. Amazon Pharmacy Rolls Out Low-Cost Weight-Loss Drugs

Insider Buying and Selling

In other Amazon.com news, CEO Douglas J. Herrington sold 6,370 shares of Amazon.com stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $262.39, for a total value of $1,671,424.30. Following the completion of the sale, the chief executive officer directly owned 486,527 shares of the company's stock, valued at approximately $127,659,819.53. The trade was a 1.29% decrease in their position. The transaction was disclosed in a legal 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 on Thursday, May 21st. The stock was 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 in the company, valued at approximately $3,729,480.60. This represents a 52.21% 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 77,867 shares of company stock worth $20,532,092 in the last 90 days. 8.90% of the stock is currently owned by corporate insiders.

Amazon.com Trading Up 1.3%

Shares of Amazon.com stock opened at $278.09 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.03 and a quick ratio of 0.87. Amazon.com, Inc. has a 1 year low of $196.00 and a 1 year high of $287.20. The company has a market capitalization of $3.00 trillion, a P/E ratio of 22.37, a P/E/G ratio of 1.83 and a beta of 1.45. The business has a 50 day moving average price of $246.69 and a 200 day moving average price of $237.78.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its earnings results 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. Amazon.com had a return on equity of 18.00% and a net margin of 17.44%.The firm had revenue of $200.61 billion for the quarter, compared to analysts' expectations of $197.03 billion. During the same quarter in the prior year, the firm earned $1.68 EPS. Amazon.com's quarterly revenue was up 19.6% on a year-over-year basis. Sell-side analysts anticipate that Amazon.com, Inc. will post 8.05 EPS for the current fiscal 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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