Amazon.com, Inc. $AMZN Holdings Lifted by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management increased its Amazon stake by 17.5% in the third quarter, bringing its holdings to 321,217 shares valued at approximately $80.5 million. Institutional investors collectively own 72.2% of Amazon’s stock.
• Analysts remain broadly bullish, with 56 Buy ratings and three Holds producing a consensus “Moderate Buy” rating and a $322.53 price target. Amazon also exceeded quarterly expectations, reporting $5.75 in EPS and $200.61 billion in revenue.
• Amazon shares opened at $250, down 1.9%, while executives sold stock under pre-arranged trading plans. Investors are focused on the upcoming October 29 earnings report, particularly AWS growth, AI spending, capital expenditures and free cash flow.

NorthCrest Asset Manangement LLC grew its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 17.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 321,217 shares of the e-commerce giant's stock after buying an additional 47,748 shares during the quarter. Amazon.com accounts for about 1.9% of NorthCrest Asset Manangement LLC's investment portfolio, making the stock its 9th biggest holding. NorthCrest Asset Manangement LLC's holdings in Amazon.com were worth $80,499,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in AMZN. State Street Corp increased its holdings in Amazon.com by 5.5% during the 2nd quarter. State Street Corp now owns 411,848,346 shares of the e-commerce giant's stock worth $95,504,904,000 after purchasing an additional 21,398,025 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Amazon.com in the 2nd quarter valued at about $22,218,775,000. Bank of New York Mellon Corp bought a new stake in shares of Amazon.com in the second quarter valued at about $16,341,405,000. Amundi lifted its holdings in shares of Amazon.com by 3.9% in the second quarter. Amundi now owns 63,822,242 shares of the e-commerce giant's stock valued at $15,211,393,000 after purchasing an additional 2,421,739 shares in the last quarter. Finally, Legal & General Group Plc bought a new stake in shares of Amazon.com in the second quarter valued at about $12,831,376,000. Institutional investors own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Royal Bank Of Canada upped their price objective on Amazon.com from $320.00 to $330.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. DA Davidson reissued a "neutral" rating and issued a $250.00 target price on shares of Amazon.com in a research report on Friday, July 31st. Oppenheimer restated an "outperform" rating on shares of Amazon.com in a research note on Friday, July 31st. Benchmark boosted their target price on Amazon.com from $370.00 to $400.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $360.00 price target (up from $355.00) on shares of Amazon.com in a research report on Tuesday, July 28th. Fifty-six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $322.53.

Amazon.com Trading Down 1.9%

Shares of NASDAQ:AMZN opened at $250.00 on Friday. The company's 50-day moving average price is $256.75 and its two-hundred day moving average price is $251.57. 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 one year low of $196.00 and a one year high of $287.20. The stock has a market capitalization of $2.70 trillion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 1.93 and a beta of 1.45.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The e-commerce giant reported $5.75 EPS for the quarter, topping analysts' consensus estimates of $1.82 by $3.93. The company had revenue of $200.61 billion during the quarter, compared to the consensus estimate of $197.03 billion. Amazon.com had a net margin of 17.44% and a return on equity of 18.00%. The company's quarterly revenue was up 19.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.68 EPS. On average, equities analysts forecast that Amazon.com, Inc. will post 8.02 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP David Zapolsky sold 9,258 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was 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 of the company's stock, valued at approximately $10,699,926.30. This represents a 18.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew R. Jassy sold 20,000 shares of the firm's stock in a transaction that occurred 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 owned 2,235,766 shares of the company's stock, valued at approximately $579,085,751.66. This represents a 0.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 71,589 shares of company stock valued at $18,580,515 in the last quarter. 8.90% of the stock is currently owned by corporate insiders.

Amazon.com News Summary

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

• Positive Sentiment: AWS remains the central growth and profit driver. Amazon’s cloud business grew at its fastest pace in 18 quarters during the second quarter, and investors will focus closely on whether that momentum continued. Strong AWS growth could support a higher valuation. Amazon earnings outlook
• Positive Sentiment: Analysts continue to view Amazon as a major beneficiary of AI adoption through AWS, custom chips and related products. The company’s AI initiatives could improve future cash flow, while strong holiday e-commerce demand and a growing advertising business provide additional support. Amazon AI cash flow outlook
• Positive Sentiment: Amazon’s acquisition of Bee is expanding its consumer AI strategy. New Bee Frontier and Bee Eclipse devices, along with a paid software tier, give the company new opportunities in hardware, subscriptions and AI-assisted shopping. Amazon Bee AI devices
• Neutral Sentiment: Amazon has scheduled its third-quarter results and conference call for Oct. 29. The report is likely to be the next major catalyst, particularly for AWS growth, capital expenditures, operating margins and management’s AI investment outlook. Amazon earnings announcement
• Negative Sentiment: Broad technology stocks are under pressure as inflation concerns increase expectations for higher interest rates, prompting investors to favor value and dividend-paying sectors. That market-wide rotation is weighing on mega-cap technology names, including AMZN. Technology sector decline
• Negative Sentiment: Investors remain concerned that Amazon’s roughly $220 billion AI commitment and rising capital expenditures may pressure near-term free cash flow. Capacity constraints and potentially falling AI-compute pricing add to doubts about the return on that spending.
• Negative Sentiment: Elon Musk’s proposal for an “X Shop” or “Grokazon” introduces a potential long-term competitive risk after Amazon blocked some AI shopping agents. The issue could encourage rivals to challenge Amazon’s position in agent-driven commerce. Potential Amazon rival

Amazon.com Profile

Amazon.com, Inc is a global technology and e-commerce company founded by Jeff Bezos in 1994. Originally launched as an online bookstore, the company has expanded into a broad digital marketplace offering consumer products across numerous categories, including electronics, household goods, apparel, groceries and other merchandise. Amazon also sells products under its own brands and provides logistics, fulfillment and delivery services that support its retail operations and third-party sellers.

The company's principal businesses include online and physical retail, Amazon Web Services (AWS), digital advertising, subscription services and consumer technology.

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