Amazon.com, Inc. $AMZN Holdings Reduced by Altar Rock LLC

Key Points

• Altar Rock LLC cut its Amazon stake by 59.8% in the second quarter, selling 6,699 shares and retaining 4,500 shares valued at approximately $1.07 million.
• Other institutional investors increased or initiated positions, and institutions and hedge funds collectively own 72.2% of Amazon’s stock.
• Amazon reported strong quarterly results, with revenue up 19.6% year over year and EPS significantly exceeding estimates. Analysts remain bullish, assigning the stock a “Moderate Buy” consensus rating and an average price target of $322.86, while citing AWS and AI growth as key catalysts.

Altar Rock LLC cut its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 59.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,500 shares of the e-commerce giant's stock after selling 6,699 shares during the period. Amazon.com makes up approximately 1.5% of Altar Rock LLC's holdings, making the stock its 18th biggest position. Altar Rock LLC's holdings in Amazon.com were worth $1,073,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of AMZN. Premier Financial Group bought a new stake in Amazon.com in the second quarter valued at about $315,000. Security National Bank of Sioux City Iowa IA boosted its holdings in Amazon.com by 44.9% during the second quarter. Security National Bank of Sioux City Iowa IA now owns 12,849 shares of the e-commerce giant's stock valued at $3,062,000 after purchasing an additional 3,980 shares in the last quarter. Wellington Altus USA Inc. boosted its holdings in Amazon.com by 2.3% during the second quarter. Wellington Altus USA Inc. now owns 7,569 shares of the e-commerce giant's stock valued at $1,804,000 after purchasing an additional 171 shares in the last quarter. Reynders McVeigh Capital Management LLC grew its stake in shares of Amazon.com by 0.6% in the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 166,954 shares of the e-commerce giant's stock valued at $39,792,000 after purchasing an additional 1,003 shares during the period. Finally, Bullseye Investment Management LLC bought a new stake in shares of Amazon.com in the 2nd quarter valued at approximately $2,688,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com News Roundup

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

• Positive Sentiment: AI and AWS optimism: AWS CEO Matt Garman said AI spending is not yet in a bubble, citing diversified customers and attractive returns. Analysts also point to AWS’s accelerating growth, custom-chip demand from major AI companies, and Amazon’s planned infrastructure investments as potential long-term catalysts. AWS CEO discusses AI spending
• Positive Sentiment: Analysts see upside: Needham described Amazon as undervalued, citing AI adoption, expanding margins, and cloud leadership. Technical analysts said a double-bottom breakout could open a path toward $320, with resistance near $267.56 and $287.20. Amazon valuation and AI outlook
• Positive Sentiment: Cost-cutting supports margins: Amazon is eliminating fewer than 1,000 positions, primarily in Stores, customer service, marketplace support, and engineering. The cuts may improve efficiency as the company shifts resources toward AI, although they also signal ongoing restructuring. Amazon job cuts
• Neutral Sentiment: Data-center transparency: Amazon said it will stop using nondisclosure agreements in negotiations with local governments over data centers, potentially easing opposition to AI infrastructure while exposing the company to greater public scrutiny. Amazon drops data-center NDAs
• Negative Sentiment: Regulatory and reputational risk: An investigation alleges Amazon pressured sellers to raise prices at competing retailers, potentially increasing antitrust scrutiny. Investigation into Amazon pricing practices
• Negative Sentiment: Heavy AI spending remains a concern: Amazon’s large capital commitments, including planned GPU deployments, could pressure free cash flow if AI demand or returns disappoint. Blocking third-party AI shopping agents may also create an opening for competitors.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $262.43 on Friday. The firm has a fifty day moving average of $258.83 and a two-hundred day moving average of $249.88. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.87 and a current ratio of 1.03. The stock has a market capitalization of $2.83 trillion, a price-to-earnings ratio of 21.11, a PEG ratio of 1.96 and a beta of 1.45. Amazon.com, Inc. has a 52 week low of $196.00 and a 52 week high of $287.20.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The e-commerce giant reported $5.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $3.93. The business had revenue of $200.61 billion for the quarter, compared to analyst estimates of $197.03 billion. Amazon.com had a return on equity of 18.00% and a net margin of 17.44%. The firm's revenue was up 19.6% on a year-over-year basis. During the same period last year, the company earned $1.68 EPS. As a group, equities research analysts predict that Amazon.com, Inc. will post 8.03 EPS for the current year.

Analysts Set New Price Targets

AMZN has been the subject of several analyst reports. Telsey Advisory Group set a $335.00 target price on Amazon.com and gave the stock an "outperform" rating in a research report on Friday, July 31st. Barclays reiterated an "overweight" rating and issued a $365.00 price target (up from $330.00) on shares of Amazon.com in a research report on Friday, July 31st. Susquehanna reiterated a "positive" rating on shares of Amazon.com in a research note on Tuesday. JPMorgan Chase & Co. lifted their price objective on Amazon.com from $330.00 to $365.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Finally, Oppenheimer restated an "outperform" rating on shares of Amazon.com in a research note on Friday, July 31st. Fifty-six analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $322.86.

Insider Activity

In other Amazon.com news, SVP David Zapolsky sold 9,258 shares of the company's stock in a transaction that occurred on 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 represents a 18.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew S. Garman sold 14,541 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $259.06, for a total transaction of $3,766,991.46. Following the completion of the sale, the chief executive officer owned 17,794 shares in the company, valued at approximately $4,609,713.64. This trade represents a 44.97% 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. In the last 90 days, insiders have sold 71,589 shares of company stock valued at $18,580,515. 8.90% of the stock is currently owned by company insiders.

About Amazon.com

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.

Want to see what other hedge funds are holding AMZN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amazon.com, Inc. (NASDAQ:AMZN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.